https://www.taxtmi.com/caselaws?id=258273 The Tribunal held that Public Financial Institutions (PFIs) are not exempt from making disclosures under regulation 29(1)/29(2) when acquiring shares on invocation of pledge. The exemption under the proviso to regulation 29(4) applies solely to deemed acquisitions, not actual acquisitions. PFIs are subject to disclosure requirements under the Securities and Exchange Board of India regulations. The appellants' failure to disclose important information violated regulations, resulting in dismissal of their appeals and upholding of SEBI's penalty. en-us Tue, 28 Oct 2014 00:00:00 +0530 Sat, 02 Jan 2016 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258273 The Tribunal held that Public Financial Institutions (PFIs) are not exempt from making disclosures under regulation 29(1)/29(2) when acquiring shares on invocation of pledge. The exemption under the proviso to regulation 29(4) applies solely to deemed acquisitions, not actual acquisitions. PFIs are subject to disclosure requirements under the Securities and Exchange Board of India regulations. The appellants' failure to disclose important information violated regulations, resulting in dismissal of their appeals and upholding of SEBI's penalty. Case-Laws Companies Law Tue, 28 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258273