https://www.taxtmi.com/caselaws?id=258351 The tribunal ruled in favor of the appellants, finding that the obligation to disclose "otherwise encumbered" shares was not clearly mandated by SEBI regulations or the Listing Agreement. The tribunal criticized SEBI for requiring disclosure beyond the scope of pledged shares and noted inconsistencies in SEBI's adjudication process. The penalties imposed on the appellants were set aside, and both appeals were allowed with no costs awarded. en-us Thu, 30 Oct 2014 00:00:00 +0530 Sat, 02 Jan 2016 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258351 The tribunal ruled in favor of the appellants, finding that the obligation to disclose "otherwise encumbered" shares was not clearly mandated by SEBI regulations or the Listing Agreement. The tribunal criticized SEBI for requiring disclosure beyond the scope of pledged shares and noted inconsistencies in SEBI's adjudication process. The penalties imposed on the appellants were set aside, and both appeals were allowed with no costs awarded. Case-Laws Companies Law Thu, 30 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258351