Application of other laws not barred
Section 32 of the Securities and Exchange Board of India Act, 1992 deals with application of other laws not barred. The provisions of this Act shall be in addition to, and not in derogation of, the provisions of any other law for the time being in force. The Act came into force on 30 Jan 1992.
The provisions of this Act shall be in addition to, and not in derogation of, the provisions of any other law for the time being in force.
Section 32, The Securities and Exchange Board of India Act, 1992 (Act 15 of 1992).
Related judgements & precedents
These are some judgments that construed this section, and hold precedence value. They hold authority on how to read, interpret and use this section.
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Sunita Bhagat vs Sebi
Court's Decision & Legal Precedent
Section 12(1B) of the SEBI Act creates two classes of persons: (i) those who commenced collective investment activities prior to 25.1.1995 ('proviso category') who may continue until obtaining registration under the regulations; and (ii) those who did not ('non-proviso category') who are absolutely barred from commencing such activities until obtaining registration. The bar for the non-proviso category is self-executing and operative from 25.1.1995 regardless of when regulations are framed. However, criminal prosecution for regulatory non-compliance (such as failure to apply for registration under Regulation 5) requires that the accused was a director/officer of the company at the time the specific breach occurred. A director who resigned before the deadline for compliance cannot be prosecuted for breaches arising on or after the resignation date. The complaint must clearly disclose whether the accused is charged as a non-proviso category violator (commencing activity without authority) or merely as an existing operator who failed to comply with procedural regulations. Absence of such clarity, combined with the accused having exited before the breach date, renders prosecution unsustainable.
On this section: Provision stating SEBI Act provisions are in addition to, not in derogation of, other laws. Court held this confirms applicability of CrPC provisions including Section 468 limitation period.
The holding above is the ratio decidendi as extracted from the judgment by eCourts India, reproduced unaltered — it is a rendering of the court's reasoning, not a substitute for its words. Read the order itself before relying on it.
Questions about Section 32
What have the courts held on Section 32 of the Securities and Exchange Board of India Act?
Sunita Bhagat vs Sebi (15 Jul 2016) is the leading judgment on this section among those set out below: Provision stating SEBI Act provisions are in addition to, not in derogation of, other laws. Court held this confirms applicability of CrPC provisions including Section 468 limitation period.
How do I find court cases under Section 32 of the Securities and Exchange Board of India Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Sebi Act 32, section 32 Sebi Act, section 32 of the Securities and Exchange Board of India Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome. 1 reported judgment on this section is set out on this page, beginning with Sunita Bhagat vs Sebi (15 Jul 2016).
When did Section 32 of the Securities and Exchange Board of India Act come into force?
Section 32 of the Securities and Exchange Board of India Act, cited as Sebi Act 32, came into force on 30 Jan 1992, having been enacted on 04 Apr 1992. It is in force as at the date shown on this page.
Other sections of this Act
- 11. Functions of Board1315 words
- 11C. Investigation1145 words
- 12. Registration of stock-brokers, sub-brokers, share transfer agents, etc678 words
- 28A. Recovery of amounts629 words
- 15U. Procedure and powers of the Securities Appellate Tribunal494 words
- 15D. Penalty for certain defaults in case of mutual funds464 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 17 Oct 2026. This page is not a substitute for legal advice.