Suspension of insolvency professional registration prevents continued Resolution Professional appointments and restricts interim stays that effectivel...
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Judicial review of the quantum of a FERA penalty permits interference on proportionality grounds only where the sanction is grossly excessive, unduly harsh, or so disproportionate that it shocks the court's conscience. A Tribunal cannot reduce a penalty without demonstrating and giving reasons that this high threshold is met; its reduction was therefore unsustainable. FERA penalty adjudication follows proof of breach of a statutory civil obligation, without requiring mens rea. Absence of criminal intent or monetary gain does not legally justify a reduced penalty. The appellate outcome restored the penalty imposed by the Adjudicating Authority after setting aside the Tribunal's reduction.
Judicial review of the quantum of a FERA penalty permits interference on proportionality grounds only where the sanction is grossly excessive, unduly harsh, or so disproportionate that it shocks the court's conscience. A Tribunal cannot reduce a penalty without demonstrating and giving reasons that this high threshold is met; its reduction was therefore unsustainable. FERA penalty adjudication follows proof of breach of a statutory civil obligation, without requiring mens rea. Absence of criminal intent or monetary gain does not legally justify a reduced penalty. The appellate outcome restored the penalty imposed by the Adjudicating Authority after setting aside the Tribunal's reduction.
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