https://www.taxtmi.com/caselaws?id=237224 The court upheld the validity of SEBI Guidelines for Consent Orders, emphasizing SEBI's discretion in accepting or rejecting consent applications. It ruled that once adjudication has reached finality, SEBI cannot entertain consent applications, as it would negate the final judicial order. The court held that the doctrine of merger applied, restoring SEBI's original order. It concluded that the High Court cannot issue a mandamus directing SEBI to accept a settlement, as the guidelines are administrative and do not confer enforceable rights. The Petition was dismissed, and the request for a stay of judgment was refused. en-us Tue, 17 Jan 2012 00:00:00 +0530 Sat, 21 Sep 2013 11:56:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237224 The court upheld the validity of SEBI Guidelines for Consent Orders, emphasizing SEBI's discretion in accepting or rejecting consent applications. It ruled that once adjudication has reached finality, SEBI cannot entertain consent applications, as it would negate the final judicial order. The court held that the doctrine of merger applied, restoring SEBI's original order. It concluded that the High Court cannot issue a mandamus directing SEBI to accept a settlement, as the guidelines are administrative and do not confer enforceable rights. The Petition was dismissed, and the request for a stay of judgment was refused. Case-Laws Companies Law Tue, 17 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237224