Supreme Court of India

Kavi Arora v. Securities & Exchange Board of India

Neutral citation
Reported as [2022] 19 S.C.R. 323
Bench Indira Banerjee and A. S. Bopanna JJ.
Decided 14 September 2022

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

In view of the foregoing reasons, the Special Leave petition is dismissed.

Judgment, page 20

From the headnote

Securities and Exchange Board of India Act, 1992 – s.15HA – Securities and Exchange Board of India (Procedure fo r Holding Inquiry and Imposing Penalties by Adjudicating Officer) R ules, 1995 – rr.3, 4 – Show Cause Notice was issued by Respondent -SEBI to the Petitioner, who was MD and CEO of one Religare Finvest Limited (RFL) [subsidiary of Religare Enterprises Ltd. (REL )], alleging diversion of funds from RFL through several layers of conduit e ntities for the ultimate benefit of promoters of REL and RFL – Wri t petition filed by the Petitioner seeking directions against S EBI, to furnish

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