SEBI can delegate quasi-judicial functions to its member, officer: Kerala High Court

The Court observed that in light of the colossal amount of work before statutory bodies, extreme aversion to delegation of powers is no longer practical.
Kerala High Court and SEBI
Kerala High Court and SEBI

The Kerala High Court recently held that under Section 19 of the Securities and Exchange Board of India Act (SEBI Act), all powers and functions including the quasi-judicial powers of the SEBI Board (except the rule-making power under Section 29) can be delegated to any member, officer, or any other person [BRD Securities Ltd v Union of India & Anr.].

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