Disgorgement power: directions may require restitution of wrongful gains or averted losses from contraventions under Depositories Act. The amendment adds an Explanation to section 19 of the Depositories Act, declaring that the power to issue directions includes authority to require disgorgement from any person who made a profit or averted a loss by transactions or activities in contravention of the Act or its regulations, in an amount equivalent to the wrongful gain or loss averted.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Disgorgement power: directions may require restitution of wrongful gains or averted losses from contraventions under Depositories Act.
The amendment adds an Explanation to section 19 of the Depositories Act, declaring that the power to issue directions includes authority to require disgorgement from any person who made a profit or averted a loss by transactions or activities in contravention of the Act or its regulations, in an amount equivalent to the wrongful gain or loss averted.
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