The Supreme Court ruled that appeals filed with the High Court before the SEBI Act amendment remain valid, reinforcing the rights of parties engaged in ongoing litigation.
Supreme Court Affirms SEBI Appeal Amendment Does Not Affect Pending Appeals
The Supreme Court of India has delivered a ruling clarifying that the amendments made to Section 15Z of the SEBI Act do not impact appeals that were filed with the High Court prior to the implementation of these amendments. In this significant order, the Court dismissed an appeal related to this matter.
The ruling underlines the principle that ongoing proceedings should not be affected by subsequent legislative changes, thereby affirming the rights of parties who have initiated appeals before the amendment was enacted.
Legal practitioners should take note of this decision as it has critical implications for pending appeals before High Courts. It establishes a precedent that could guide future cases where changes in legislative provisions arise, ensuring that ongoing litigation is protected from retroactive effects.
Citations
- SEBI v. Author (2026) Sec 15Z
