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When Do an Investor's Protective Rights Become 'Control'?
A minority investor's veto rights are not control. The SAT said so in Subhkam, the Supreme Court declined to settle it, and the market has structured deals around the half-settled doctrine ever since.
Can Conduct Be 'Fraud' Without a Lie?
After Kanaiyalal, fraud under SEBI's anti-fraud rulebook is no longer about deceit. It is about effect: did the conduct induce someone to deal? That single shift reshaped market-manipulation enforcement in India.
What Continuous Disclosure Does the Law Demand?
LODR is the continuous-disclosure code for every listed company in India. Regulation 30 material events, the post-Satyam governance regime, and the 2023 tightening of timelines.
What Are SEBI's Real Powers?
SEBI does not have inherent regulatory authority. Every action traces to a section of the SEBI Act: Section 11 sets the mandate, Section 11(4) holds the sharp tools, Section 11B underwrites forward-looking directions and disgorgement.
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 The line is drawn by unpublished price sensitive information under the PIT Regulations 2015, and after Balram Garg, proving a case takes more than suspicious timing.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.
How Does India's Securities Regulator Actually Work?
An empirical study of 35,417 SEBI orders — settlements, adjudications, whole-time-member directions and tribunal appeals from 1995 to 2026 — answering ten questions about how India's securities regulator really enforces the law.