https://www.taxtmi.com/caselaws?id=761752 The Bombay HC dismissed petitioners' challenge to SEBI Settlement Proceedings Regulations, 2018, rejecting claims of excessive delegation and manifest arbitrariness. The court found petitioners attempted to stall SCN adjudication through settlement applications while refusing cooperation and making contradictory requests. SEBI's rejection of settlement proposals with conditions requiring other noticees' participation was deemed reasonable given allegations of acting in concert. The court held settlement regulations conform to constitutional requirements and SEBI Act provisions, with adequate determining principles. Petitioners' conduct paralleled tactics in Binny Limited case, using settlement applications to delay proceedings under Regulation 8's abeyance provision. en-us Mon, 11 Nov 2024 00:00:00 +0530 Fri, 15 Nov 2024 09:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761752 The Bombay HC dismissed petitioners' challenge to SEBI Settlement Proceedings Regulations, 2018, rejecting claims of excessive delegation and manifest arbitrariness. The court found petitioners attempted to stall SCN adjudication through settlement applications while refusing cooperation and making contradictory requests. SEBI's rejection of settlement proposals with conditions requiring other noticees' participation was deemed reasonable given allegations of acting in concert. The court held settlement regulations conform to constitutional requirements and SEBI Act provisions, with adequate determining principles. Petitioners' conduct paralleled tactics in Binny Limited case, using settlement applications to delay proceedings under Regulation 8's abeyance provision. Case-Laws SEBI Mon, 11 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761752