Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: TDS :: form 3cd :: empanelment :: VAT RATES :: cpt :: list of goods taxed at 4%
 
 
From the Courts »
 M/S TEJ QUEBCOR PRINTING LTD. Vs. JOINT COMMISSIONER OF INCOME TAX
 Principal Commissioner Of Income Tax (Central) Vs. M/s A2z Maintenance & Engineering Services Ltd.
 Pr. Commissioner Of Income Tax-19 Vs. Shri Neeraj Jindal
 Rollatainers Ltd. Vs. Commissioner Of Income Tax
 CIT vs. G K K Capital Markets (P) Limited (Calcutta High Court)
 CIT vs. Arpit Land Pvt. Ltd (Bombay High Court)
 CIT vs. Abacus Distribution Systems (India) Pvt. Ltd (Bombay High Court)
  ACIT vs. Mahesh K. Shah (ITAT Mumbai)
  Malay N. Sanghvi vs. ITO (Bombay High Court)
 Pr. Commissioner Of Income Tax-Xviii Vs. Praveen Saxena
 Unitech Hospitality Services Limited Vs. Assistant Commissioner Of Income Tax

HC refers to PIL bench plea seeking quashing of SEBI circular
August, 06th 2011

The Delhi High Court Friday referred to a larger bench a petition filed against market watchdog seeking direction to quash SEBI's 2007 circular saying that it is prejudicial to the interest of investors.

A single judge bench of Justice Rajiv Sahai Endlaw said that the issue involves public interest while referring the matter to a larger bench which hears PIL.
    
The direction of the court came on a plea of Deepak Khosla challenging the circular of Securities and Exchange Board of India (SEBI) which enables an adjudicating officer to pass an order 'settling' the administrative or civil actions in the cases where a person is prima facie found to have violated the rules.
 
The petitioner submitted that an adjudicating order promotes dissemination of the information among the investors as it exposes the violators, their modus operandi and other important aspects.
 
He further said that an consent order, on the other hand, can be passed by the adjudicating officer without fixing the guilt of the parties involved.
 
" A consent order doesn't indicate to the investors whether or not intermediaries and other persons they deal with in the securities market are violators.
 
"Consent orders, therefore, lead to denial of important information to investors," the petitioner said.
The circular also empowers the official to pass an order compounding an offences under the SEBI rules and regulation, Khosla said.
 
The impugned circular also says that there would be no appeal from an order passed with the consent of the parties, he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions