https://www.taxtmi.com/caselaws?id=241096 The Tribunal upheld the penalty imposed on a private company (Appellant) for violating SEBI Act sections 11C(2) and 11C(3) due to failure to provide complete information during an investigation. Despite the Appellant's argument that it should not be liable for its directors' faults, the Tribunal found their responses evasive and lacking cooperation. The penalty was reduced from Rs.5,00,000 to Rs.2,00,000 to discourage future non-compliance, with a two-month deadline for payment. The appeal was dismissed without additional costs, concluding the case. en-us Mon, 01 Jul 2013 00:00:00 +0530 Tue, 17 Dec 2013 11:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241096 The Tribunal upheld the penalty imposed on a private company (Appellant) for violating SEBI Act sections 11C(2) and 11C(3) due to failure to provide complete information during an investigation. Despite the Appellant's argument that it should not be liable for its directors' faults, the Tribunal found their responses evasive and lacking cooperation. The penalty was reduced from Rs.5,00,000 to Rs.2,00,000 to discourage future non-compliance, with a two-month deadline for payment. The appeal was dismissed without additional costs, concluding the case. Case-Laws Companies Law Mon, 01 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241096