https://www.taxtmi.com/caselaws?id=260369 Delayed mandatory disclosures on disposal of shares under the takeover and insider trading regulations were treated as enforceable where the holder crossed the relevant shareholding thresholds and the disclosures were sent beyond the prescribed period. The breach was found to be established on the facts, including for the insider trading disclosure obligation, though the provisions required contextual construction. The penalty was then moderated because the non-compliance was technical, short in duration, and supported by mitigating circumstances, including the serious illness and death of the official handling the company's affairs. The liability finding was sustained, but the monetary penalty was reduced. en-us Wed, 28 Jan 2015 00:00:00 +0530 Tue, 09 Jun 2015 11:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260369 Delayed mandatory disclosures on disposal of shares under the takeover and insider trading regulations were treated as enforceable where the holder crossed the relevant shareholding thresholds and the disclosures were sent beyond the prescribed period. The breach was found to be established on the facts, including for the insider trading disclosure obligation, though the provisions required contextual construction. The penalty was then moderated because the non-compliance was technical, short in duration, and supported by mitigating circumstances, including the serious illness and death of the official handling the company's affairs. The liability finding was sustained, but the monetary penalty was reduced. Case-Laws Companies Law Wed, 28 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260369