Suspension of broker's registration for 1 year for technical violations was too harsh: SAT

COMPANY LAW/SEBI : Where SEBI by impugned order suspended registration of appellant-broker for a period of one year citing some irregularities in its functioning, in view of fact that long period of suspension of a market intermediary like a broker would make them completely defunct which would make punishment disproportionate, instead of complete suspension appellant was to be restricted for one year from taking fresh clients

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