https://www.taxtmi.com/caselaws?id=108926 A SEBI circular directing Stock Exchanges to debit an arbitral award amount from a member's deposits and hold it in a separate account until the challenge period expired, or the challenge was decided, was upheld as a valid investor-protection measure. The Bombay High Court found that the circular, issued under SEBI's statutory powers, did not override the Arbitration and Conciliation Act, 1996 or make an award enforceable before it became enforceable under that Act. It was confined to members and brokers of Stock Exchanges and was aimed at improving implementation of awards. No illegality, arbitrariness, or Article 14 violation was established. en-us Wed, 23 Jan 2002 00:00:00 +0530 Wed, 04 Apr 2012 18:05:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108926 A SEBI circular directing Stock Exchanges to debit an arbitral award amount from a member's deposits and hold it in a separate account until the challenge period expired, or the challenge was decided, was upheld as a valid investor-protection measure. The Bombay High Court found that the circular, issued under SEBI's statutory powers, did not override the Arbitration and Conciliation Act, 1996 or make an award enforceable before it became enforceable under that Act. It was confined to members and brokers of Stock Exchanges and was aimed at improving implementation of awards. No illegality, arbitrariness, or Article 14 violation was established. Case-Laws Companies Law Wed, 23 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108926