https://www.taxtmi.com/caselaws?id=781397 An intermediary's status as a fit and proper person was treated as co-terminus with its subsisting certificate of registration. Where the intermediary had surrendered the certificate and SEBI had accepted that surrender before the show cause notice was issued, any direction to cancel the registration had become infructuous and no effective action under Regulation 27 of the SEBI (Intermediaries) Regulations, 2008 remained available. A post-surrender declaration that the intermediary was not fit and proper was therefore legally unsustainable. en-us Fri, 08 Aug 2025 00:00:00 +0530 Fri, 14 Nov 2025 15:27:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781397 An intermediary's status as a fit and proper person was treated as co-terminus with its subsisting certificate of registration. Where the intermediary had surrendered the certificate and SEBI had accepted that surrender before the show cause notice was issued, any direction to cancel the registration had become infructuous and no effective action under Regulation 27 of the SEBI (Intermediaries) Regulations, 2008 remained available. A post-surrender declaration that the intermediary was not fit and proper was therefore legally unsustainable. Case-Laws SEBI Fri, 08 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781397