https://www.taxtmi.com/caselaws?id=261075 A disclosure breach was established where an acquirer's shareholding crossed the prescribed threshold and rose to 5.36% without the required notices to the company and stock exchange, attracting the takeover and insider-trading disclosure obligations. The default was treated as technical and inadvertent, with no proved disproportionate gain, investor loss, control motive, or unfair advantage. On that basis, the penalty was moderated because the regulatory breaches were closely connected and a token penalty was sufficient. The violation was upheld, but the penalty was reduced to a token amount. en-us Wed, 04 Sep 2013 00:00:00 +0530 Wed, 01 Jul 2015 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261075 A disclosure breach was established where an acquirer's shareholding crossed the prescribed threshold and rose to 5.36% without the required notices to the company and stock exchange, attracting the takeover and insider-trading disclosure obligations. The default was treated as technical and inadvertent, with no proved disproportionate gain, investor loss, control motive, or unfair advantage. On that basis, the penalty was moderated because the regulatory breaches were closely connected and a token penalty was sufficient. The violation was upheld, but the penalty was reduced to a token amount. Case-Laws Companies Law Wed, 04 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261075