https://www.taxtmi.com/caselaws?id=298782 Offences under the Securities Contracts (Regulation) Act, 1956 and the SEBI Act, 1992 may be cognizable, so police investigation and filing of a chargesheet are not barred. However, the statutory scheme for cognizance under both enactments permits the court to proceed only on a complaint by the authorised person or authority, and that restriction is not lifted by a police report. Material gathered in investigation may support a proper complaint before the competent court, but it cannot by itself sustain cognizance on the police report before the Sessions Court. The proceedings founded on the police report were therefore liable to be quashed. en-us Mon, 27 Apr 2015 00:00:00 +0530 Sat, 20 Nov 2021 09:54:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298782 Offences under the Securities Contracts (Regulation) Act, 1956 and the SEBI Act, 1992 may be cognizable, so police investigation and filing of a chargesheet are not barred. However, the statutory scheme for cognizance under both enactments permits the court to proceed only on a complaint by the authorised person or authority, and that restriction is not lifted by a police report. Material gathered in investigation may support a proper complaint before the competent court, but it cannot by itself sustain cognizance on the police report before the Sessions Court. The proceedings founded on the police report were therefore liable to be quashed. Case-Laws SEBI Mon, 27 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298782