Supreme Court Hears Civil Appeals Against SEBI's Attachment Orders – Appellants Challenge Levy of Retrospective Interest on Penalty Without Express Provision in Adjudication Order. The core question was whether the Recovery Officer could demand interest at 12% p.a. from the date of original adjudication orders under Section 28A SEBI Act read with Section 220 Income Tax Act in absence of a prior direction for interest, and whether Explanation 4 inserted in 2019 applies retrospectively to pre-existing orders.
26 Jul 2026The appeals arose from the dismissal by the Securities Appellate Tribunal of challenges to attachment notices issued by the Securities and Exchange Bo...
