Abans Enterprises Ltd vs Securities And Exchange Board Of India

ik-90401283 Bombay High Court 11 November 2024 • WRIT PETITION NO. 4457 OF 2024 • 29 min read

Judges (2)

Jitendra Jain Coram M.S. Sonak Delivered

Counsel (15)

RHP Partners Firm Vidhii Partners Firm Ashok Pandey Counsel Petitioner Gaurav Joshi Counsel Petitioner Hormaz C. Daruwalla Counsel Respondent Hubab Sayyed Counsel Respondent Janak Dwarkadas Counsel Petitioner Komal Shah Counsel Respondent Mitravinda Chunduru Counsel Petitioner Nishin Shrikhande Counsel Respondent Paras Parekh Counsel Petitioner Ravichandra Hegde Counsel Petitioner Samyak Pati Counsel Petitioner Saurabh Pakale Counsel Petitioner Suraj Choudhary Counsel Respondent

Parties (3)

Abans Enterprises Ltd Petitioner Securities and Exchange Board of India Respondent Abhishek Bansal Petitioner

Case Significance

Abans Enterprises Ltd vs Securities And Exchange Board Of India is a Bombay High Court decision dated November 11, 2024 (citation: ik-90401283). Abans Enterprises and its director challenged the constitutional validity of SEBI settlement regulations, including Regulation 8 which keeps the final order in a show cause notice in abeyance pending settlement applications. The court found the petitioners had filed settlement applications strategically to delay proceedings and benefit from court docket pressure, and dismissed the petition on merits finding no constitutional infirmity in the SEBI regulations. The bench comprised Justices Jitendra Jain and M.S. Sonak. The judgment was delivered by Justice M.S. Sonak.

Summary

Abans Enterprises and its director challenged the constitutional validity of SEBI settlement regulations, including Regulation 8 which keeps the final order in a show cause notice in abeyance pending settlement applications. The court found the petitioners had filed settlement applications strategically to delay proceedings and benefit from court docket pressure, and dismissed the petition on merits finding no constitutional infirmity in the SEBI regulations.

What was the outcome of Abans Enterprises Ltd vs Securities And Exchange Board Of India?

Abans Enterprises and its director challenged the constitutional validity of SEBI settlement regulations, including Regulation 8 which keeps the final order in a show cause notice in abeyance pending ...

Judgment

Read the full judgment on the official India Courts portal.

Read on Indian Kanoon

Source: Indian Kanoon (ik-90401283)