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          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. Here it shows just a few of many results. To view list of all cases mentioning this section, Visit here

          Provisions expressly mentioned in the judgment/order text.

          <h1>New Section 28B in SEBI Act Holds Legal Representatives Liable for Deceased's Debts, Limited to Estate Value</h1> Clause 187 of the Finance Bill, 2018 introduces section 28B to the Securities and Exchange Board of India Act, 1992, detailing the continuance of proceedings upon a person's death. It mandates that a deceased person's legal representative is liable for sums the deceased would have owed, provided penalties were imposed prior to death. Proceedings for disgorgement, refund, or recovery, excluding penalties, can continue or be initiated against the legal representative. The liability of the legal representative is limited to the estate's value, and they are personally liable if they improperly dispose of estate assets. The term 'legal representative' includes those managing the deceased's estate.

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