https://www.taxtmi.com/caselaws?id=262568 Ex parte regulatory restraint on a time-sharing business under the SEBI Act was found unsustainable because no demonstrated urgency or imminent danger justified bypassing a pre-decisional hearing. The record showed prior engagement with the regulator, no material change in the business model, and no emergent circumstance warranting immediate coercive action while CIS applicability remained under enquiry. A mere prima facie view, pending investigation, and alleged non-cooperation could not replace natural justice or justify shutting down the business before merits were decided. The matter was remitted for fresh decision after hearing the appellants. en-us Wed, 17 Sep 2014 00:00:00 +0530 Thu, 13 Aug 2015 07:03:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262568 Ex parte regulatory restraint on a time-sharing business under the SEBI Act was found unsustainable because no demonstrated urgency or imminent danger justified bypassing a pre-decisional hearing. The record showed prior engagement with the regulator, no material change in the business model, and no emergent circumstance warranting immediate coercive action while CIS applicability remained under enquiry. A mere prima facie view, pending investigation, and alleged non-cooperation could not replace natural justice or justify shutting down the business before merits were decided. The matter was remitted for fresh decision after hearing the appellants. Case-Laws Companies Law Wed, 17 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262568