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Supreme Court of India

Prakash Gupta v. Securities and Exchange Board of India

Neutral citation
Reported as [2021] 4 S.C.R. 862
Bench Dr. Dhananjaya Y Chandrachud and M. R. Shah JJ.
Decided 23 July 2021

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.

What the Court ordered

For the above reasons, we affirm the judgment of the High Court of Delhi, however, for the reasons which have been indicated in this judgment.

Judgment, page 71

From the headnote

Securities and Exchange Board of India Act, 1992: ss. 24 and 24A – Compounding of offence under – On facts, allegations against appellant-director of a company of pric e rigging and insider trading in the scrip of the Company – Pro secution of the appellant u/s. 24(1) – Appellant sought the compounding of the offence u/s. 24A – Rejection of, by the trial judge upholding the objection of the Securities and Exchange Board of I ndia (SEBI) that the offence could not be compounded without it s consent – Upheld by the High Court holding that the trial has reached the stage of final arguments and

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