Economic TimesLean R·
SC ruling seen shaping Sebi’s fraud-finding frame
India’s fraud enforcement regime has entered a new phase, with market regulator Sebi resetting the legal bar for what counts as fraud in securities law.The shift draws on the recent Supreme Court ruling in the Reliance Industries vs Sebi case. In this case, the court ruled that demonstration of investor injury is itself sufficient ground to establish fraud.Where no injury or loss can be quantified, wrongful intention must instead be inferred from surrounding circumstances.It is this intent elem…
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