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    <description>An order based on material not supplied to a party, and relied on without giving an opportunity to respond, breaches the rule of fair hearing and natural justice. Here, a SEBI order was used during the hearing but was not furnished to the appellant, so the resulting direction was unsustainable. The impugned order was set aside for non-compliance with natural justice, and the matter was remitted for fresh consideration after hearing both sides.</description>
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      <description>An order based on material not supplied to a party, and relied on without giving an opportunity to respond, breaches the rule of fair hearing and natural justice. Here, a SEBI order was used during the hearing but was not furnished to the appellant, so the resulting direction was unsustainable. The impugned order was set aside for non-compliance with natural justice, and the matter was remitted for fresh consideration after hearing both sides.</description>
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