Supreme Court sets aside ₹80 lakh costs imposed by Bombay High Court on SEBI, NSE, BSE

The Supreme Court of India recently intervened in a case involving the Securities and Exchange Board of India (SEBI), the National Stock Exchange (NSE), and the Bombay Stock Exchange (BSE). The Bombay High Court had previously imposed ₹80 lakh in costs on SEBI, NSE, and BSE for delays and deficiencies in their legal proceedings. The Supreme Court has now set aside this order, reflecting its stance on ensuring fairness and procedural correctness in high-stakes financial litigation. This decision underscores the judiciary’s role in overseeing regulatory and exchange bodies' compliance with legal and procedural norms. It also emphasizes the need for due diligence and proper legal conduct in financial regulations and disputes. The judgment could impact future cases involving financial regulatory bodies and stock exchanges, highlighting the judiciary's commitment to maintaining justice and procedural integrity.