https://www.taxtmi.com/caselaws?id=258601 Mandatory disclosure obligations under the securities regulations were triggered once share sales crossed the relevant threshold, and belated disclosure after a show-cause notice did not cure the default. Inadvertence, claimed ignorance, absence of alleged gain, availability of trade details on the stock exchange website, and personal circumstances such as blindness were treated only as mitigating factors, not as grounds to erase statutory non-compliance. A penalty already fixed well below the statutory maximum was not interfered with, as no disproportionality or illegality was shown. The disclosure default and consequent penalty were sustained. en-us Tue, 14 Oct 2014 00:00:00 +0530 Wed, 15 Apr 2015 10:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258601 Mandatory disclosure obligations under the securities regulations were triggered once share sales crossed the relevant threshold, and belated disclosure after a show-cause notice did not cure the default. Inadvertence, claimed ignorance, absence of alleged gain, availability of trade details on the stock exchange website, and personal circumstances such as blindness were treated only as mitigating factors, not as grounds to erase statutory non-compliance. A penalty already fixed well below the statutory maximum was not interfered with, as no disproportionality or illegality was shown. The disclosure default and consequent penalty were sustained. Case-Laws Companies Law Tue, 14 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258601