0752-2022 Jolly Plastic Industries Ltd. and Others vs SEBI
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“23. It is no doubt true that no period of limitation is prescribed in the Act or the Regulations for issuance of a show cause notice or for completion of the adjudication proceedings. The Supreme Court in Government of India vs. Citedal Fine Pharmaceuticals, Madras and Others, [AIR (1989) SC 1771] held that in the absence of any period of limitation, the authority is required to exercise its powers within a reasonable period. What would be the reasonable period would depend on the facts of each case and that no hard and fast rule can be laid down in this regard as the determi
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI Date of Decision: 19.5.2023
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Source: SecMarx — 0752-2022 Jolly Plastic Industries Ltd. and Others vs SEBI. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.