https://www.taxtmi.com/caselaws?id=112480 The SEBI Act requires stock brokers and sub-brokers to hold a valid registration certificate before carrying on business, and section 12(3) limits the regulatory consequence of breach to suspension or cancellation in the manner prescribed by regulations. The appellate power under section 15T(4) allows the Tribunal to confirm, modify or set aside the order under appeal, but it does not permit the Tribunal to step outside the statutory framework or impose a penalty not contemplated by the Act or regulations. As a statutory creature, the Tribunal must act within the powers conferred by the enactment and the relevant rules. en-us Tue, 21 Apr 2009 00:00:00 +0530 Tue, 13 Aug 2013 17:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112480 The SEBI Act requires stock brokers and sub-brokers to hold a valid registration certificate before carrying on business, and section 12(3) limits the regulatory consequence of breach to suspension or cancellation in the manner prescribed by regulations. The appellate power under section 15T(4) allows the Tribunal to confirm, modify or set aside the order under appeal, but it does not permit the Tribunal to step outside the statutory framework or impose a penalty not contemplated by the Act or regulations. As a statutory creature, the Tribunal must act within the powers conferred by the enactment and the relevant rules. Case-Laws Companies Law Tue, 21 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112480