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How Do You Read a SEBI Order?
A SEBI order can run from two pages to two hundred. Learn its anatomy and you can extract what matters in minutes, and spot where an order is vulnerable.
Can You Settle With SEBI Without Admitting Guilt?
Most SEBI matters never reach a contested finding. They end in a settlement where you pay a sum and the case closes, often without admitting or denying wrongdoing.
When Must You Make an Open Offer?
Buy enough of a listed company and the law forces you to offer to buy out the public too. The SAST Regulations 2011 trigger an open offer at 25 per cent or on acquiring control.
When Does Trading Become Insider Trading?
Trading on good information is not a crime by itself. The line is drawn by unpublished price sensitive information under the PIT Regulations 2015, and after Balram Garg, proving a case takes more than suspicious timing.
Does SEBI Fine You, or Take Back What You Made?
A penalty punishes, disgorgement claws back wrongful gains, and a refund restores investors. Three different SEBI remedies on three different provisions, each needing a different defence.
How Does SEBI Actually Enforce the Law?
SEBI enforcement is not one thing but four parallel tracks: Whole-Time Member directions, Adjudicating Officer penalties, settlements, and SAT appeals. Which one your matter takes shapes everything.
What Does SEBI Use to Punish Market Fraud?
The PFUTP Regulations are SEBI's broad anti-fraud weapon and the most-cited rulebook in the enforcement record. Their reach comes from how widely the Supreme Court has read the word fraud.
How Does SEBI Decide How Much to Fine You?
A SEBI penalty for near-identical conduct can range from ₹1 lakh to ₹25 crore. Section 15J is the one sentence that disciplines that discretion, traced through the fight from Roofit to Bhavesh Pabari.
Plugins Are Not Harnesses: A Practitioner's Guide to Choosing Between Claude and LITT for Legal Work
A walkthrough of why the smartest frontier model is not always the right tool for legal work, drawn from a documented exchange between Claude Opus 4.7 and a Singapore family-law memo.
Default & Doctrine: Full Contents of Issue One
Every article in the Default & Doctrine series — 18 pieces analysing India's Insolvency and Bankruptcy Code through 25,106 court orders.
GLAS Trust v. BYJU Raveendran: The Supreme Court Case That Closed the Section 12A Door
An edtech unicorn, $1.2 billion in cross-border debt, and a 61-page Supreme Court judgment that tightened Section 12A withdrawals. Section 12A withdrawals fell from 296 in 2022 to 59 in 2024.
IBC Frontier Cases: Pre-Pack, Group Insolvency, Cross-Border — India's Under-used Mechanisms
Pre-pack CIRP 86 orders, group insolvency 22, cross-border 9. The frameworks the IBC built to widen its footprint and barely uses.
IBBI Disciplinary Committee: How India Polices Its Insolvency Professionals
300 disciplinary proceedings, one debarment, twenty-two monetary penalties — the gradient of sanctions the IBBI imposes on India's insolvency professionals.
IBC Liquidation: When Resolution Fails, Inside the Section 53 Waterfall
1,148 liquidation orders, eight years. The IBC was designed with a resolution preference — but only 1.46 plans for every liquidation. The Section 53 priority cascade explained.
Section 29A IBC: Who Cannot Buy Back a Defaulted Company in India
Section 29A of the Insolvency and Bankruptcy Code was inserted in 2017 to stop defaulting promoters from buying their own companies back. 1,176 orders later, here's what it actually achieved.
India's Personal Guarantor IBC Revolution: From 4 Cases to 1,492
After Lalit Kumar Jain (2021) and Dilip Jiwrajka (2023), the IBC became a regime that bites individuals. Section 95 admissions are running at 53.5% — the highest admit rate of any IBC category.
Lalit Kumar Jain v. Union of India: When Personal Guarantors Came Onshore
A 21 May 2021 Supreme Court judgment upheld India's personal-guarantor IBC regime. Before it, 29 cases in 2019. After it, 547 in 2022. The story of the IBC's second front.
NCLT, India's IBC Courtroom: 18,971 Orders Across Sixteen Benches
Three out of every four IBC orders come from a single forum. Six NCLT benches handle 71% of the work. The bench geography of Indian insolvency.
NCLAT IBC Appeals: 4,327 Orders Analysed — Who Wins and Why
Across 4,327 NCLAT IBC appeals, 30% are dismissed and 19% allowed — a moderate filter that polices arithmetic and procedure, not commercial wisdom.
The Supreme Court's IBC Docket: 643 Orders Analysed (2017-2024)
643 Supreme Court orders in eight years. The apex court handles 0.4% of all IBC volume but writes the doctrine for everyone else. A close reading.
The 25 Supreme Court Cases That Shaped India's IBC Jurisprudence
Mobilox to GLAS Trust — the precedent backbone of India's insolvency law, ranked by citation count across 25,106 orders. Five Supreme Court rulings account for over 1,400 citations.
Kalyani Transco v. Bhushan Power: India's Longest-Running IBC Saga in the Supreme Court
Civil Appeal No. 1808 of 2020 has produced more Supreme Court orders than any other IBC matter in the eight-year corpus — twenty-eight of them, four years of \"early hearing\" applications, and the doctrine that never landed.
Section 7 vs Section 9 of IBC: Financial vs Operational Creditors, Who Wins More
Financial creditors filing Section 7 are 60% more likely than operational creditors filing Section 9 to walk out with an approved resolution plan. Across 15,285 citations, why the doors behave differently.
Why India's CIRP Funnel Narrows: From 6,210 Admissions to 1,681 Plans
The Corporate Insolvency Resolution Process was designed as a clean pipe from default to plan. Across 20,314 CIRP orders the funnel narrows hard at every joint.