Basic Idea Behind Disgorgement Is Restitution: SAT Allows Investors' Plea For Compensation

The Securities Appellate Tribunal (SAT) has directed SEBI in a case to compensate victims of an investor fraud scheme by utilising funds either from the disgorgement money received from the wrongdoer, or from its 'Investor Protection and Education Fund'. The SAT is a tribunal that hears appeals against SEBI rulings. The direction...