In Brief
In a commodities trading regulation case under the Forward Contracts Act 1952, the Court addressed whether the respondent was entitled to a fresh show cause notice after its case shifted from the High Court to the SAT (Securities Appellate Tribunal). The respondent had raised concerns about lack of opportunity to defend itself. The Court held that while document supply was concluded, a fresh show cause notice was not necessary given the procedural history and ongoing directions. The Court invoked the doctrine of lifting corporate veil where separate personality is opposed to justice. It modified the lower order to allow other pending proceedings to continue from their current stage rather than restart de novo if the respondent's case failed, aiming to end years of procedural stalemate while preserving fair process.
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