https://www.taxtmi.com/caselaws?id=261377 For admitted non-disclosure of share acquisition and sale transactions under insider trading and takeover regulations, the SAT held that penalties are not to be interfered with unless they are shockingly disproportionate to the gravity and extent of the breach. The adjudicating authority was entitled to assess the nature of each violation, the role of each appellant, the number of defaults, and the statutory maximum penalty, and the penalties were found justified. The SAT also held that different penalty amounts were permissible because the appellants were not similarly placed; the differentiation reflected relevant factual distinctions and the degree of violation, not arbitrary or discriminatory treatment. The appeals therefore failed and the penalties were sustained. en-us Wed, 30 Jul 2014 00:00:00 +0530 Fri, 10 Jul 2015 06:31:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261377 For admitted non-disclosure of share acquisition and sale transactions under insider trading and takeover regulations, the SAT held that penalties are not to be interfered with unless they are shockingly disproportionate to the gravity and extent of the breach. The adjudicating authority was entitled to assess the nature of each violation, the role of each appellant, the number of defaults, and the statutory maximum penalty, and the penalties were found justified. The SAT also held that different penalty amounts were permissible because the appellants were not similarly placed; the differentiation reflected relevant factual distinctions and the degree of violation, not arbitrary or discriminatory treatment. The appeals therefore failed and the penalties were sustained. Case-Laws Companies Law Wed, 30 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261377