Adjudication of penalties procedure centralises appointment, notice, hearing and penalty factors with appeal rights to Regional Director. Adjudication of penalties appoints officers not below Registrar as adjudicating officers, requires written show-cause notices with minimum response periods and possible extensions, mandates hearings with reasonable opportunity to be heard, grants powers to summon witnesses and compel documents, and directs consideration of disproportionate gain, investor or creditor loss, and repetitiveness in determining penalty quantum. Orders must be dated, signed and communicated; proceedings are exempt from CPC, Evidence Act and CrPC, and penalties accrue to the Consolidated Fund of India.
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.
Adjudication of penalties procedure centralises appointment, notice, hearing and penalty factors with appeal rights to Regional Director.
Adjudication of penalties appoints officers not below Registrar as adjudicating officers, requires written show-cause notices with minimum response periods and possible extensions, mandates hearings with reasonable opportunity to be heard, grants powers to summon witnesses and compel documents, and directs consideration of disproportionate gain, investor or creditor loss, and repetitiveness in determining penalty quantum. Orders must be dated, signed and communicated; proceedings are exempt from CPC, Evidence Act and CrPC, and penalties accrue to the Consolidated Fund of India.
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