#disgorgement

The Supreme Court reinstated SEBI's penalty on Tara Jewels promoters, ruling that merely possessing unpublished price-sensitive information and trading on it satisfies insider-trading liability, irrespective of any profit or the intended use of the proceeds. This establishes that motive or purpose of proceeds is irrelevant for penalty under the SEBI Act, affecting all present and future insider-trading cases.

The Securities Appellate Tribunal permitted a 73-year-old appellant to sell securities from her demat account to fulfill SEBI-imposed disgorgement and penalty obligations, clarifying that debarment from market access does not prohibit asset liquidation for regulatory compliance. This ruling sets a precedent for senior citizens and individuals facing financial hardship under SEBI enforcement actions.