SEBI Consent Fee Not a Penalty, Acknowledges Potential Lack of Guilt in Appellate Proceedings.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Disallowance of consent fee paid to SEBI - SEBI has accepted the position that guilt may or may not be established at the end of the appellate proceedings - The fee paid cannot therefore, be equated to a “penalty“ which must necessarily be a punishment for infraction of a law or a regulation having statutory force - AT....