S.E.B.I. vs ROOPRAM SHARMA — C.A. No. 4242/2004

Case Summary: S.E.B.I. v. Roopram Sharma (C.A. No. 004242/2004) Outcome: The Supreme Court allowed SEBI's appeal and set aside the Securities Appellate Tribunal's order dated 19.09.2002. The Court upheld SEBI's three-year prohibition on Roopram Sharma from accessing the capital market and dealing in securities, finding that such a direction does not constitute an unlawful penalty under Section 11B of the SEBI Act, 1992. The Court held that a precedent from SEBI v. Ajay Agarwal (2010) conclusively resolved the legal question in SEBI's favor. No costs were awarded to either party. This case analysis is maintained by casestatus.in based on publicly available court records.