SEBI swerved on non-interference in Winding Up matters

Shubham Gupta, a 4th year student the Institute of Law, Nirma University.

Introduction

In the recent Adjudication officer (‘AO’) order dated on 31st December2019, SEBI took a stand that it can proceed with the adjudication proceedings against a company even though the company is under liquidation. This stand is inconsistent with the approach adopted by SEBI till now and is likely to be non-est. in law.

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