SEBI is empowered to pass an ex-parte interim order only in extreme cases: SAT

CL: Where a presumption was drawn by SEBI that a company had accumulated stock of mentha oil through traders in commodity market by misusing exchange platform, and thus, violated provision of section 12A, however, there was nothing on record that by accumulating stocks, appellant had dominated market, ex parte order passed by SEBI restraining appellants from buying, selling or dealing in securities market was harsh and unwarranted

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