https://www.taxtmi.com/caselaws?id=258676 Disclosure obligations under takeover and insider trading regulations arise once the prescribed shareholding threshold is crossed, regardless of whether shares are acquired through amalgamation, market purchase or any other mode. The appellant was therefore bound to disclose upon receipt of shares under the amalgamation scheme. Penalty for delayed and omitted disclosures was upheld because liability attaches to the breach itself, and the adjudicating authority had already considered mitigating factors and imposed a reduced composite penalty. The penalty was not found excessive or unreasonable, and the order was sustained. en-us Tue, 30 Sep 2014 00:00:00 +0530 Wed, 15 Apr 2015 10:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258676 Disclosure obligations under takeover and insider trading regulations arise once the prescribed shareholding threshold is crossed, regardless of whether shares are acquired through amalgamation, market purchase or any other mode. The appellant was therefore bound to disclose upon receipt of shares under the amalgamation scheme. Penalty for delayed and omitted disclosures was upheld because liability attaches to the breach itself, and the adjudicating authority had already considered mitigating factors and imposed a reduced composite penalty. The penalty was not found excessive or unreasonable, and the order was sustained. Case-Laws Companies Law Tue, 30 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258676