https://www.taxtmi.com/caselaws?id=446697 The Securities Appellate Tribunal, Mumbai held that SEBI's jurisdiction to take action against chartered accountants is limited to cases involving fraud, conspiracy, or connivance with company directors. The tribunal found that where the WTM categorically determined no evidence of fraud or connivance by the appellants with company officers, and insufficient evidence of manipulation with fraudulent intent, SEBI cannot issue adjudicatory directions to ICAI or NFRA regarding professional negligence. The tribunal emphasized that SEBI cannot encroach upon powers vested with professional institutes under the CA Act for matters of professional negligence without evidence of conspiracy in securities-related fraud. en-us Mon, 30 Oct 2023 00:00:00 +0530 Mon, 11 Dec 2023 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446697 The Securities Appellate Tribunal, Mumbai held that SEBI's jurisdiction to take action against chartered accountants is limited to cases involving fraud, conspiracy, or connivance with company directors. The tribunal found that where the WTM categorically determined no evidence of fraud or connivance by the appellants with company officers, and insufficient evidence of manipulation with fraudulent intent, SEBI cannot issue adjudicatory directions to ICAI or NFRA regarding professional negligence. The tribunal emphasized that SEBI cannot encroach upon powers vested with professional institutes under the CA Act for matters of professional negligence without evidence of conspiracy in securities-related fraud. Case-Laws SEBI Mon, 30 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446697