https://www.taxtmi.com/caselaws?id=311018 The Securities Appellate Tribunal quashed a misleading letter issued by SEBI's Chief General Manager, which falsely implied that an order was passed by the Whole Time Member (WTM). The Tribunal condemned the WTM's failure to pass an order within the stipulated time and the misleading conduct. It directed SEBI to reassign the matter to a different WTM, who must issue an order within two weeks after a hearing. Additionally, SEBI was ordered to pay costs of Rs. 1 lakh to the appellant for the inconvenience caused by the mishandling of the case. en-us Fri, 15 Jul 2016 00:00:00 +0530 Sun, 03 Dec 2023 18:52:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311018 The Securities Appellate Tribunal quashed a misleading letter issued by SEBI's Chief General Manager, which falsely implied that an order was passed by the Whole Time Member (WTM). The Tribunal condemned the WTM's failure to pass an order within the stipulated time and the misleading conduct. It directed SEBI to reassign the matter to a different WTM, who must issue an order within two weeks after a hearing. Additionally, SEBI was ordered to pay costs of Rs. 1 lakh to the appellant for the inconvenience caused by the mishandling of the case. Case-Laws SEBI Fri, 15 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311018