Supreme Court · 2015 INSC 822 · Decided 3 November 2015
Securities & Exchange Board of India v. M/S. Prebon Yamane (I) LTD.
- Court
- Supreme Court of India
- Citation
- 2015 INSC 822 · [2015] 10 S.C.R. 250
- Case number
- CIVIL APPEAL No. 7607/2005
- Decided
- 3 November 2015
- Bench
- VIKRAMAJIT SEN, SHIVA KIRTI SINGH (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
Securities & Exchange Board of India (Stock Brokers c and Sub-Brokers) Regulations, 1992: Regulation 1 O; Schedule Ill clause 4- Fee Continuity benefit- SEBI issue · a provisional fee liability statement - Payment under protest by respondent- SAT directed SEBI to refund was not an entity as envisaged in clause D 4 of Schedule Ill - Hence not entitled to fee continuity benefit - Securities & Exchange Board of India Act, 1992. Allowing the appeal, the Court E HELD: As per Clause 4 of Schedule Ill, the Respondent was not an 'entity' as envisaged in the
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