https://www.taxtmi.com/caselaws?id=783609 A statutory show-cause notice under securities law was liable to be set aside where it was issued by an authority below the competent rank prescribed by the framework, thereby giving rise to a jurisdictional defect. The notices were also vitiated because their language contained concluded assertions of violation rather than a neutral invitation to explain, showing predetermination and making the process an empty formality. In addition, failure to supply relied upon material, including the investigation report, denied an effective opportunity to respond and breached natural justice. On all three grounds, the impugned notices could not be sustained and were set aside. en-us Fri, 12 Dec 2025 00:00:00 +0530 Fri, 19 Dec 2025 08:30:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783609 A statutory show-cause notice under securities law was liable to be set aside where it was issued by an authority below the competent rank prescribed by the framework, thereby giving rise to a jurisdictional defect. The notices were also vitiated because their language contained concluded assertions of violation rather than a neutral invitation to explain, showing predetermination and making the process an empty formality. In addition, failure to supply relied upon material, including the investigation report, denied an effective opportunity to respond and breached natural justice. On all three grounds, the impugned notices could not be sustained and were set aside. Case-Laws SEBI Fri, 12 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783609