https://www.taxtmi.com/caselaws?id=261660 The Tribunal upheld SEBI's penalty of 16 lac on a share broker for non-compliance with a circular mandating timely settlement of funds and securities. The broker falsely claimed compliance, leading to a net debit balance for over three years, affecting over 10,000 clients. The Tribunal deemed the circular mandatory, emphasizing transparency and discipline in client-broker dealings. The penalty was considered appropriate given the severity of the violation, stressing the importance of regulatory adherence in the securities market. The appeal was dismissed, underscoring the significance of complying with SEBI regulations. en-us Mon, 23 Jun 2014 00:00:00 +0530 Sat, 18 Jul 2015 08:43:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261660 The Tribunal upheld SEBI's penalty of 16 lac on a share broker for non-compliance with a circular mandating timely settlement of funds and securities. The broker falsely claimed compliance, leading to a net debit balance for over three years, affecting over 10,000 clients. The Tribunal deemed the circular mandatory, emphasizing transparency and discipline in client-broker dealings. The penalty was considered appropriate given the severity of the violation, stressing the importance of regulatory adherence in the securities market. The appeal was dismissed, underscoring the significance of complying with SEBI regulations. Case-Laws Companies Law Mon, 23 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261660