Towards better enforcement by regulatory agencies

Authors: Trishee Goyal and Renuka Sane

This paper studies the enforcement process at the Securities Exchange Board of India (SEBI) and the Competition Commission of India (CCI) on two questions of natural justice: the right to be heard and separation of powers. The paper finds evidence of several procedural failures at both the regulators. The paper argues that this is because the Indian law just assumes that process of natural justice will be followed, and does not codify the same. In other countries, these processes are codified in laws,regulations and process manuals. The paper then presents recommendations on how processes of natural justice should be codified within the legal and regulatory framework of the proposed Data Protection Authority (DPA).

Regulation
Enforcement
State Capacity