https://www.taxtmi.com/caselaws?id=261297 The Tribunal upheld the penalty of Rs. 7 lac per appellant imposed under Section 15A(b) of the SEBI Act for breaching Regulation 8(3) of SAST Regulations, 1997 from 1998 to 2011. Despite arguments regarding the non-functional stock exchanges and lack of investor loss, the Tribunal found the penalty reasonable considering the continuous non-disclosure. The appellants' challenges on penalty reasonableness and relevance of suo moto consent applications were dismissed. The Tribunal affirmed the Adjudicating Officer's decision, extending the payment deadline but maintaining the Rs. 7 lac penalty per appellant, emphasizing regulatory compliance and established precedents. en-us Mon, 30 Mar 2015 00:00:00 +0530 Thu, 25 Jun 2015 18:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261297 The Tribunal upheld the penalty of Rs. 7 lac per appellant imposed under Section 15A(b) of the SEBI Act for breaching Regulation 8(3) of SAST Regulations, 1997 from 1998 to 2011. Despite arguments regarding the non-functional stock exchanges and lack of investor loss, the Tribunal found the penalty reasonable considering the continuous non-disclosure. The appellants' challenges on penalty reasonableness and relevance of suo moto consent applications were dismissed. The Tribunal affirmed the Adjudicating Officer's decision, extending the payment deadline but maintaining the Rs. 7 lac penalty per appellant, emphasizing regulatory compliance and established precedents. Case-Laws Companies Law Mon, 30 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261297