Board power to direct intermediaries enables refunds, trading suspensions and market-access restrictions to protect investors. SEBI may direct intermediaries or other market participants to refund money or securities to investors, restrict their access to the capital market or association with market activities, and instruct recognised stock exchanges to refuse or suspend trading in securities or units of mutual funds or collective investment schemes; the Board may issue any other direction it deems fit. The Board must give a reasonable opportunity of being heard before issuing directions, but may issue interim directions immediately and provide a hearing thereafter without undue delay.
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.
Board power to direct intermediaries enables refunds, trading suspensions and market-access restrictions to protect investors.
SEBI may direct intermediaries or other market participants to refund money or securities to investors, restrict their access to the capital market or association with market activities, and instruct recognised stock exchanges to refuse or suspend trading in securities or units of mutual funds or collective investment schemes; the Board may issue any other direction it deems fit. The Board must give a reasonable opportunity of being heard before issuing directions, but may issue interim directions immediately and provide a hearing thereafter without undue delay.
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