Novation Legal advises listed-company promoters, board directors, intermediaries and institutional investors facing SEBI enforcement — show cause notices, adjudication proceedings, prohibitive orders, debarment, disgorgement and prosecution under SEBI Act sections 24 and 26A. We have negotiated consent settlements preserving board roles across group entities and defeated debarment in matters where the predicate offence was disputed at root.
The first SCN under SEBI Adjudication Rules 2005 fixes the factual matrix on which all later proceedings sit. A weak response narrows defensive options across adjudication, appeal at SAT and consent settlement. We draft SCN responses with full documentary defence, expert opinions where pricing or timing is disputed, and parallel filings under Section 24 to challenge any procedural overreach.
The SEBI (Prohibition of Insider Trading) Regulations 2015 prohibit trading in listed securities while in possession of unpublished price-sensitive information. We defend insiders, designated persons, connected persons and immediate relatives in trading-window violation cases, contra-trade enquiries, code-of-conduct breaches and structural disclosure defaults under PIT Regulation 7.
The Settlement Regulations 2018 permit resolution without admission of guilt and without debarment for first-time defaulters in qualifying cases. We have negotiated consent for board directors in insider trading inquiries, structural disclosure defaults and intermediary breaches, preserving continued participation in corporate governance and capital markets.
Where adjudication produces an adverse order, Section 15T of the SEBI Act provides a statutory appeal to the Securities Appellate Tribunal at Mumbai. We appear before SAT in adjudication appeals, debarment challenges and disgorgement contests. Where SAT confirms an order, we move to the Supreme Court under Section 15Z.
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