Supreme Court of India

Adjudicating Officer, Securities and Exchange Board of India v. Bhavesh Pabari

Neutral citation

Reported as [2019] 18 S.C.R. 898

Bench Ranjan Gogoi, Deepak Gupta and Sanjiv Khanna JJ.

Decided 28 February 2019

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

4 Supreme Court benches have cited this judgment.

What the Court ordered

For the aforesaid reasons, we do not find any infirmity wit h the concurrent findings or with the quantum of penalty imposed and the same is upheld.

Judgment, page 23

From the headnote

Securities and Exchange Board of India Act, 1992 – s.15 -J, Cl. (a), (b) & (c) – Whether conditions stipulated in Cla uses (a), (b) and (c) of s.15-J are exhaustive to govern the disc retion in the Adjudicating Officer to decide on the quantum of pe nalty or the said conditions are merely illustrative – Held: Provisio ns of Clauses (a), (b) and (c) of s.15-J are illustrative in nature and have to be taken into account whenever such circumstances exist – But this is not to say that there can be no other circumstance(s) beyond tho se enumerated in Clauses (a), (b) and (c) of s.15-J that the Ad

Authorities it was built on

1972 State of Bihar v. Deokaran Nenshi cited by 15
2008 Union of India & Ors. v. Tarsem Singh cited by 10
2016 Securities and Exchange Board of India v. Kishore R. Ajmera cited by 10
2016 Siddharth Chaturvedi v. Securities and Exchange Board of India cited by 1

Where later benches applied it

2022 Dkg Buildcon Private Ltd v. The Adjudicating & Enquiry Officer, S.E.B.I. relied on
2023 M/s North Eastern Chemicals Industries (p) Ltd. & Anr v. M/s Ashok Paper Mill (assam) Ltd. & Anr. mentioned
2022 Securities and Exchange Board of India v. Sunil Krishna Khaitan and Others mentioned
2022 Mbl and Company Limited v. Securities and Exchange Board of India mentioned

Of those, 1 relied on · 3 mentioned

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