Only ‘Disciplinary Action Committee’ is empowered to impose a penalty under SEBI Act and Rules and Bye Laws: SAT

COMPANY LAW/SEBI : Where penalty was imposed on appellants by Sr. Manager, Inspection amp; Audit for incorrect reporting on collection of margin from clients to Stock Exchange and appellants contended that impugned order passed by Sr. Manager, Inspection amp; Audit was without any authority of law as said person does not have power to adjudicate or impose a penalty under SEBI Act, Rules and Bye-laws of Exchange etc.COMPANY LAW/SEBI : Where penalty was imposed on appellants by Sr. Manager, Inspection amp; Audit for incorrect reporting on collection of margin from clients to Stock Exchange and appellants contended that impugned order passed by Sr. Manager, Inspection amp; Audit was without any authority of law as said person does not have power to adjudicate or impose a penalty under SEBI Act, Rules and Bye-laws of Exchange etc.www.taxmann.com Latest Case LawsRead More

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