Search and seizure: abatement of earlier search bars use of prior seized material in later search-based assessments; relief limited to new documents f...
Admission of additional evidence under remand rules must await a meaningful remand report; failure to do so breaches natural justice and mandates rema...
The text addresses personal liability of directors in regulatory enforcement, holding that designation alone does not establish personal liability and that vicarious liability requires specific findings of individual involvement; this principle limits attachment of personal bank, demat and trading accounts absent substantive averments. It emphasises principles of natural justice and the limited scope of judicial review under Article 226 where regulatory findings entail factual appreciation, concluding that reasoned statutory orders invoking recovery and attachment powers under the SEBI Act warrant pursuit of the alternative statutory remedy before the Securities Appellate Tribunal rather than writ relief.
The text addresses personal liability of directors in regulatory enforcement, holding that designation alone does not establish personal liability and that vicarious liability requires specific findings of individual involvement; this principle limits attachment of personal bank, demat and trading accounts absent substantive averments. It emphasises principles of natural justice and the limited scope of judicial review under Article 226 where regulatory findings entail factual appreciation, concluding that reasoned statutory orders invoking recovery and attachment powers under the SEBI Act warrant pursuit of the alternative statutory remedy before the Securities Appellate Tribunal rather than writ relief.
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