https://www.taxtmi.com/caselaws?id=396362 A confirmatory restraint on securities market access cannot continue where the findings remain only prima facie, the individual roles of the noticees have not been crystallised, and their replies are not meaningfully addressed. The appellate tribunal noted that the order rested on suspicion and presumed vicarious liability, while the material available did not justify continued exclusion from the market on such untested allegations. Because no specific findings of individual responsibility were recorded and the submissions were not properly considered, the restraint could not be sustained against the affected parties and was set aside qua them. en-us Wed, 29 Jan 2020 00:00:00 +0530 Thu, 02 Jul 2020 08:13:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396362 A confirmatory restraint on securities market access cannot continue where the findings remain only prima facie, the individual roles of the noticees have not been crystallised, and their replies are not meaningfully addressed. The appellate tribunal noted that the order rested on suspicion and presumed vicarious liability, while the material available did not justify continued exclusion from the market on such untested allegations. Because no specific findings of individual responsibility were recorded and the submissions were not properly considered, the restraint could not be sustained against the affected parties and was set aside qua them. Case-Laws SEBI Wed, 29 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396362