By Shashank Prabhakar The Finance Act, 2017 which has been passed by both the houses of Parliament and which was assented to by the President of India on April 3, 2017, has amended certain provisions of the SEBI Act, 1992 (“SEBI Act”) and the Securities Contracts (Regulation) Act, 1956 (“SCRA”). Here we are only concerned with the amendments carried out to Section 15J and Section 23J of the SEBI Act and the SCRA, respectively. The interpretation of Section 15J of the SEBI Act was a substantial question of law in two recent Supreme Court cases, namely, SEBI v. Roofit Industries […]
The post Finance Act amendments to the SEBI Act and the SCRA: Parliament settles the Roofit question
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