SEBI: On the Backfoot

Is SEBI’s consent order system illegal?

While a group of eminent citizens embarrassed themselves by moving the apex court to quash UK Sinha’s appointment as chairman of the Securities and Exchange Board of India, an ordinary investor seems to have scored a major victory by filing a public interest litigation (PIL). A Delhi-based entrepreneur, Deepak Khosla, has challenged the validity of SEBI’s...

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