S E B I Act, 1992 – Ss 24(1) & 24A – Compounding of offence – SEBI’s consent cannot be mandatory before SAT or the Court before which the proceeding is pending, for exercising the power of compounding under Section 24A- offences which lie outside the IPC, compounding may be permitted only if the statute which creates the offence contains an express provision for compounding before such an offence can be made compoundable – Power of compounding must, in other words, be expressly conferred by the statute which creates the offence.
SUPREME COURT OF INDIA DIVISION BENCH PRAKASH GUPTA — Appellant Vs. SECURITIES AND EXCHANGE BOARD OF INDIA — Respondent ( Before : Dr Dhananjaya Y Chandrachud and M R Shah,…