https://www.taxtmi.com/caselaws?id=778273 HC dismissed the revision application and upheld the Special Judge's refusal to discharge the accused. The court held that regulatory/adjudication findings do not ordinarily bar criminal prosecution unless they constitute a clear, detailed declaration of innocence on merits, which was absent here. The adjudication order contained adverse observations and did not absolve the accused of responsibility. Prima facie material - inspection, forensic audit, exchange reports and account statements - raised sufficient suspicion under Section 27(1) SEBI Act to proceed to trial; discharge would be premature. en-us Thu, 11 Sep 2025 00:00:00 +0530 Sat, 13 Sep 2025 08:47:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778273 HC dismissed the revision application and upheld the Special Judge's refusal to discharge the accused. The court held that regulatory/adjudication findings do not ordinarily bar criminal prosecution unless they constitute a clear, detailed declaration of innocence on merits, which was absent here. The adjudication order contained adverse observations and did not absolve the accused of responsibility. Prima facie material - inspection, forensic audit, exchange reports and account statements - raised sufficient suspicion under Section 27(1) SEBI Act to proceed to trial; discharge would be premature. Case-Laws SEBI Thu, 11 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778273