https://www.taxtmi.com/caselaws?id=467427 Issue estoppel bars SEBI from reaching a contrary conclusion under Section 11B where an adjudicating officer has finally determined, on identical facts and issues between the same parties, that no manipulative intent or violation occurred. The adjudicating officer's determination remains binding where SEBI does not invoke its statutory revision power within the prescribed framework. Directions founded on findings inconsistent with that final determination cannot be sustained. A separate disclosure failure may remain actionable, but no additional penalty was imposed after debarment had already been undergone. en-us Tue, 08 Jun 2021 00:00:00 +0530 Wed, 18 Mar 2026 13:16:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467427 Issue estoppel bars SEBI from reaching a contrary conclusion under Section 11B where an adjudicating officer has finally determined, on identical facts and issues between the same parties, that no manipulative intent or violation occurred. The adjudicating officer's determination remains binding where SEBI does not invoke its statutory revision power within the prescribed framework. Directions founded on findings inconsistent with that final determination cannot be sustained. A separate disclosure failure may remain actionable, but no additional penalty was imposed after debarment had already been undergone. Case-Laws SEBI Tue, 08 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467427