https://www.taxtmi.com/caselaws?id=262222 The tribunal upheld the imposition of a composite penalty of Rs. 5 lac on the appellants for violating SEBI regulations on disclosure requirements. Despite arguing for revocation due to minimal delay and lack of malicious intent, the appellants' appeal was dismissed. The tribunal emphasized the mandatory nature of disclosures, the repetitive nature of the default, and the appellants' objective of gaining control over the company as reasons for upholding the penalty. The penalty was considered reasonable and justified, given the circumstances of the case. en-us Tue, 15 Jul 2014 00:00:00 +0530 Tue, 04 Aug 2015 17:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262222 The tribunal upheld the imposition of a composite penalty of Rs. 5 lac on the appellants for violating SEBI regulations on disclosure requirements. Despite arguing for revocation due to minimal delay and lack of malicious intent, the appellants' appeal was dismissed. The tribunal emphasized the mandatory nature of disclosures, the repetitive nature of the default, and the appellants' objective of gaining control over the company as reasons for upholding the penalty. The penalty was considered reasonable and justified, given the circumstances of the case. Case-Laws Companies Law Tue, 15 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262222