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Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
The High Court set aside the impugned order and treated it as a Show Cause Notice due to discrepancies between the Show Cause Notice and the assessment order, thereby violating principles of natural justice by denying the petitioner an opportunity to present their case. The petitioner was granted four weeks to file objections with supporting documents, which the respondent must consider after affording a reasonable opportunity of hearing, and pass orders in accordance with law. The writ petition was disposed of.
The High Court set aside the impugned order and treated it as a Show Cause Notice due to discrepancies between the Show Cause Notice and the assessment order, thereby violating principles of natural justice by denying the petitioner an opportunity to present their case. The petitioner was granted four weeks to file objections with supporting documents, which the respondent must consider after affording a reasonable opportunity of hearing, and pass orders in accordance with law. The writ petition was disposed of.
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