SC Remands Case for Fresh Review on Merits After SAT Dismissal Over Served Punishment; Stigma Argument Considered. The SC set aside SAT's order and remitted the case for de novo consideration on merits. The appellant's appeal against SEBI's suspension was initially ...
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SC Remands Case for Fresh Review on Merits After SAT Dismissal Over Served Punishment; Stigma Argument Considered.
The SC set aside SAT's order and remitted the case for de novo consideration on merits. The appellant's appeal against SEBI's suspension was initially dismissed by SAT, citing the punishment was already served. However, the SC recognized the appellant's argument regarding the stigma from SEBI's order, necessitating a merits-based decision.
The Supreme Court set aside the impugned order of the Securities Appellate Tribunal and remitted the case for de novo consideration in accordance with law on merits. The appellant's appeal against the order of suspension by the Securities and Exchange Board of India was dismissed by SAT only on the ground that the appellant had suffered the punishment. The Court found merit in the appellant's contention that the appeal should be decided on merits due to the stigma imposed by SEBI's order.
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