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Author: K Mihira Chakravarthy
K Mihira Chakravarthy
5th-year BA LLB student, Damodaram Sanjivayya National Law University, Visakhapatnam.
It is a set principle that Securities Exchange Board of India is an adjudicatory body having the powers of the Civil Courts. The Hon’ble Supreme Court while analyzing the powers of the SEBI and the Securities Appellate Tribunal in Subrata Roy Sahara v Union of India, clarified that although certain powers analogous to those of a civil court under the Code of Civil Procedure, 1908 (CPC) have been expressly conferred, such powers are limited in scope and subject-specific. The Court held that the mere conferment of select procedural powers does not lead to the wholesale application of the CPC to…
