https://www.taxtmi.com/caselaws?id=773326 Bombay HC quashed SEBI's revocation order of a settlement agreement, finding it violated natural justice principles. SEBI had issued notices to entities for misrepresenting shareholding and non-compliance with minimum public shareholding requirements. After 14 months of correspondence where SEBI entertained the entities' explanations, SEBI revoked the settlement through a one-line unreasoned order without hearing. The court held SEBI, as a regulator, must act fairly and follow audi alteram partem principles. The revocation order was unsustainable due to absence of reasons and denial of hearing opportunity, causing prejudice to petitioners despite their consistent compliance efforts. en-us Wed, 11 Jun 2025 00:00:00 +0530 Sat, 21 Jun 2025 08:28:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773326 Bombay HC quashed SEBI's revocation order of a settlement agreement, finding it violated natural justice principles. SEBI had issued notices to entities for misrepresenting shareholding and non-compliance with minimum public shareholding requirements. After 14 months of correspondence where SEBI entertained the entities' explanations, SEBI revoked the settlement through a one-line unreasoned order without hearing. The court held SEBI, as a regulator, must act fairly and follow audi alteram partem principles. The revocation order was unsustainable due to absence of reasons and denial of hearing opportunity, causing prejudice to petitioners despite their consistent compliance efforts. Case-Laws SEBI Wed, 11 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773326