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Consent Order- A Bailout Package For Violators In The Indian Securities Market, Anurag Tripathi, Abhishek Chanda
Consent Order- A Bailout Package For Violators In The Indian Securities Market, Anurag Tripathi, Abhishek Chanda
Anurag Tripathi
Since SEBI was given statutory power in 1992 it has done great deal in both securing the interest of the investors and development of securities market in India. Under the SEBI act, 1992 SEBI came up with elaborate procedure for punishing the violators of the securities laws so as to cause deterrence. However, soon it was realised that SEBI was overburdened with piling up of cases and had short fall in collection of penalty which led to revenue losses to the government. Thus, SEBI came up with the Consent Order Mechanism which is a sort of out of court settlement …