https://www.taxtmi.com/caselaws?id=171234 The tribunal upheld the penalty imposed under Section 15HB of the SEBI Act for trading as a sub-broker without registration, considering the seriousness of the offense. Additionally, the penalty under Section 15A(a) of the SEBI Act for non-compliance with summonses was reduced to Rs. 1 lac from Rs. 2 lac due to errors in document submission, emphasizing that penalties can be imposed irrespective of financial gains or losses. The appellant was directed to pay the penalties within four weeks, with SEBI entitled to recover the amounts with interest if not paid, and no costs were awarded in the appeal. en-us Thu, 12 Dec 2013 00:00:00 +0530 Tue, 14 Jul 2015 12:19:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171234 The tribunal upheld the penalty imposed under Section 15HB of the SEBI Act for trading as a sub-broker without registration, considering the seriousness of the offense. Additionally, the penalty under Section 15A(a) of the SEBI Act for non-compliance with summonses was reduced to Rs. 1 lac from Rs. 2 lac due to errors in document submission, emphasizing that penalties can be imposed irrespective of financial gains or losses. The appellant was directed to pay the penalties within four weeks, with SEBI entitled to recover the amounts with interest if not paid, and no costs were awarded in the appeal. Case-Laws Companies Law Thu, 12 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171234