https://www.taxtmi.com/caselaws?id=456943 Criminal proceedings arising from IPO irregularities were quashed after SEBI processed the matter through its consent and settlement framework, accepted the petitioner's disclosures, and recorded payment of disgorgement and settlement charges. The Court held that the dispute was predominantly commercial, with limited criminal content, and that continuation of prosecution would serve no useful purpose; it therefore invoked its inherent and supervisory powers to prevent abuse of process and secure the ends of justice. The objection that the petition was defective for non-joinder of the complainant was rejected because the complainant's formal presence was not necessary for deciding the quashing application. en-us Wed, 05 Jan 2022 00:00:00 +0530 Wed, 28 Aug 2024 09:08:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456943 Criminal proceedings arising from IPO irregularities were quashed after SEBI processed the matter through its consent and settlement framework, accepted the petitioner's disclosures, and recorded payment of disgorgement and settlement charges. The Court held that the dispute was predominantly commercial, with limited criminal content, and that continuation of prosecution would serve no useful purpose; it therefore invoked its inherent and supervisory powers to prevent abuse of process and secure the ends of justice. The objection that the petition was defective for non-joinder of the complainant was rejected because the complainant's formal presence was not necessary for deciding the quashing application. Case-Laws SEBI Wed, 05 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456943