https://www.taxtmi.com/caselaws?id=410129 Section 24A of the SEBI Act vests compounding power in the SAT or the court seized of the proceedings, and prior consent of SEBI is not mandatory; however, SEBI's expert views on the nature, gravity and market impact of the alleged default must be sought and given due deference unless mala fide or manifestly arbitrary. Applying that approach, allegations of price rigging, artificial price rise and misuse of public issue proceeds were treated as offences of a public-market character affecting investors and market confidence, so compounding was refused despite compensatory steps. The challenge therefore failed and compounding was declined on the facts. en-us Fri, 23 Jul 2021 00:00:00 +0530 Thu, 25 Nov 2021 16:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410129 Section 24A of the SEBI Act vests compounding power in the SAT or the court seized of the proceedings, and prior consent of SEBI is not mandatory; however, SEBI's expert views on the nature, gravity and market impact of the alleged default must be sought and given due deference unless mala fide or manifestly arbitrary. Applying that approach, allegations of price rigging, artificial price rise and misuse of public issue proceeds were treated as offences of a public-market character affecting investors and market confidence, so compounding was refused despite compensatory steps. The challenge therefore failed and compounding was declined on the facts. Case-Laws SEBI Fri, 23 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410129