IN-ADEQUATE SERVICE OF SHOW CAUSE NOTICE TO APPELLANT BY SEBI AND DECIDING THE MATTER EX-PARTE CALLS FOR FRESH ADJUDICATION: SECURITIES APPELLATE TRIBUNAL In a case where SEBI directed appellants and other noticees to refund funds raised by company from investors during their respective tenures as directors, along with interest, but adequate service of show cause notice was not made upon appellants and matter proceeded ex parte. The Mumbai Bench of the Securities Appellate Tribunal held that the impugned order insofar as it related to appellants was to be remanded to SEBI for fresh adjudication. With a team of Commercial Law experts, Reddy & Reddy Law Firm has extensive experience and involvement in commercial disputes. We are regularly involved in representations before various commercial tribunals in India.