https://www.taxtmi.com/caselaws?id=750686 Telangana HC upheld SEBI's recovery certificate under Section 28A of SEBI Act against appellants who challenged it citing pending IBC proceedings and interim moratorium orders. The court held that moratorium periods had expired (180 days from admission) before the certificate was issued - appellant No. 1's moratorium ended on 04.08.2022 and appellant No. 2's on 13.06.2023, while the petition was heard on 19.09.2023. Since no moratorium was in force, SEBI was justified in issuing the recovery certificate. The court left open the question of whether the levy constitutes a fine or penalty. en-us Fri, 22 Mar 2024 00:00:00 +0530 Thu, 28 Mar 2024 08:52:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=750686 Telangana HC upheld SEBI's recovery certificate under Section 28A of SEBI Act against appellants who challenged it citing pending IBC proceedings and interim moratorium orders. The court held that moratorium periods had expired (180 days from admission) before the certificate was issued - appellant No. 1's moratorium ended on 04.08.2022 and appellant No. 2's on 13.06.2023, while the petition was heard on 19.09.2023. Since no moratorium was in force, SEBI was justified in issuing the recovery certificate. The court left open the question of whether the levy constitutes a fine or penalty. Case-Laws SEBI Fri, 22 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=750686