Powers of adjudicating officer of SEBI in levying penalty

Last updated: 12 January 2023
Quick Summary
The Supreme Court clarified the powers of SEBI's Adjudicating Officer in determining penalties. It ruled that the factors listed in Section 15J of the SEBI Act are illustrative, not exhaustive, meaning officers can consider circumstances beyond those specified when deciding the penalty amount. Furthermore, the court held that Section 15J's provisions were not eclipsed by penalty sections (15A-15HA), ensuring officers retain discretion in levying penalties, even for defaults occurring between October 2002 and September 2014.

Court :
Supreme Court of India

Brief :
PENALTIES AND ADJUDICATION PENALTY FOR FAILURE TO FURNISH INFORMATION, RETURN, ETC. SECTION 15A

Citation :
Civil Appeal No(s).11311 of 2013

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