The SEBI Enforcement Architecture: A Case For Doctrinal Recalibration Under Article 14 And Principles Of Natural Justice
- IJLLR Journal
- 1 hour ago
- 1 min read
Rounak Chakraborty, B.A., LL.B. (H), Amity Law School, Amity University Kolkata
ABSTRACT
The Securities and Exchange Board of India (SEBI) has been vested the power to exercise extensive investigatory, regulatory as well as adjudicatory powers within the securities framework. While such concentration of authority is often justified on grounds of regulatory efficiency and technical expertise, it simultaneously raises grave concerns regarding the transparency, arbitrariness, as well as institutional bias, and procedural fairness under Article 14 of the Constitution of India and the principles of Natural Justice as well as audi alteram partem. This paper examines the SEBI’s enforcement architecture and analyses whether the fusion of these functions within one single institutional framework causes constitutional lapses. The study argues for doctrinal recalibration through structural safeguards, adjudicatory independence, and enhanced procedural fairness mechanisms.
Keywords: SEBI, Article 14, Natural Justice, Regulatory Adjudication, Procedural Fairness
