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2009 (4) TMI 452 - SC - Companies LawWhether Tribunal has power to modify the penalty imposed by SEBI ? Held that:- Appeal allowed. the position of Broker/Sub-Broker in case of violation is statutorily provided under section 12 of the Act, which has to be read along with rule 3 of the Rules. No power is conferred on the Tribunal to travel beyond the areas covered by section 12 and rule 3. When something is to be done statutorily in a particular way, it can only be done that way. There is no scope for taking shelter under a discretionary power.
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