https://www.taxtmi.com/caselaws?id=112048 The 2002 amendments to the Securities and Exchange Board of India Act, 1992, were treated as prospective because they substantially enhanced punishment under Section 24 and altered the trial forum under Section 26(2) only as a consequential change. Article 20(1) of the Constitution and Section 6 of the General Clauses Act were applied to preserve pre-amendment liabilities, and pending complaints based on conduct before 29-10-2002 remained under the earlier regime. Complaints were therefore triable by the original Magistrate court, not the Court of Session. Committal orders were also found unsustainable where the procedural requirements under the Code of Criminal Procedure and the investigation framework under Section 11C had not been complied with. en-us Wed, 16 Jan 2008 00:00:00 +0530 Wed, 23 Aug 2017 09:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112048 The 2002 amendments to the Securities and Exchange Board of India Act, 1992, were treated as prospective because they substantially enhanced punishment under Section 24 and altered the trial forum under Section 26(2) only as a consequential change. Article 20(1) of the Constitution and Section 6 of the General Clauses Act were applied to preserve pre-amendment liabilities, and pending complaints based on conduct before 29-10-2002 remained under the earlier regime. Complaints were therefore triable by the original Magistrate court, not the Court of Session. Committal orders were also found unsustainable where the procedural requirements under the Code of Criminal Procedure and the investigation framework under Section 11C had not been complied with. Case-Laws Companies Law Wed, 16 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112048