https://www.taxtmi.com/caselaws?id=403169 The Tribunal quashed SEBI's debarment order against the appellant, finding no evidence of his involvement in fraudulent activities or day-to-day management. Relying on a previous case, the Tribunal held that the resolution did not indicate fraudulent intent. As the appellant was not found to have knowledge of the fraud, Section 27 of the SEBI Act on director liability was deemed inapplicable. The appeal was allowed with no costs, and parties were instructed to act on the digitally signed order due to the Covid-19 pandemic. en-us Thu, 19 Nov 2020 00:00:00 +0530 Thu, 21 Jan 2021 09:53:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403169 The Tribunal quashed SEBI's debarment order against the appellant, finding no evidence of his involvement in fraudulent activities or day-to-day management. Relying on a previous case, the Tribunal held that the resolution did not indicate fraudulent intent. As the appellant was not found to have knowledge of the fraud, Section 27 of the SEBI Act on director liability was deemed inapplicable. The appeal was allowed with no costs, and parties were instructed to act on the digitally signed order due to the Covid-19 pandemic. Case-Laws SEBI Thu, 19 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403169