Supreme Court · 2006 INSC 353 · Decided 23 May 2006
Chairman S.E.B.I. v. Shriram Mutual Fund and ANR.
- Court
- Supreme Court of India
- Citation
- 2006 INSC 353 · [2006] SUPP. 2 S.C.R. 833
- Case number
- CIVIL APPEAL No. 9523/2003
- Decided
- 23 May 2006
- Bench
- AR. LAKSHMANAN, LOKESHWAR SINGH PANTA (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
SEBI (Mutual Funds) Regulations, 1996-Regulation 25(7)(9)­ Securities and Exchange Board of India Act, 1992~ection 15(D)(b)­ Violation of terms of Certificate of Registration and Statutory Regulations A B by Mutual Fund-Imposition of penalty for the violations-Whether sine C qua non or provisions of a civil act-The penalty is attracted as soon as contravention of the statutory obligations as contemplated by the Act is established-Unless the language of the statute indicates the need to establish the element of mens rea, it is sufficient to D prove that a default in complying
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