https://www.taxtmi.com/caselaws?id=262808 The Tribunal upheld the penalty of Rs. 40 lac imposed on the appellants for violating Regulation 10 of SAST Regulations, 1997 under Section 15H of SEBI Act, 1992. Despite appellants' arguments on the penalty being high and readiness to comply with open offer, the Tribunal deemed the penalty amount justified, considering statutory provisions and mitigating factors. The Tribunal rejected appellants' reliance on reducing the penalty substantially, emphasizing that each case must be assessed independently. The penalty amount was found to be lower than the statutory limit but deemed appropriate in this case, leading to the dismissal of the appeal. en-us Fri, 12 Sep 2014 00:00:00 +0530 Thu, 20 Aug 2015 10:09:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262808 The Tribunal upheld the penalty of Rs. 40 lac imposed on the appellants for violating Regulation 10 of SAST Regulations, 1997 under Section 15H of SEBI Act, 1992. Despite appellants' arguments on the penalty being high and readiness to comply with open offer, the Tribunal deemed the penalty amount justified, considering statutory provisions and mitigating factors. The Tribunal rejected appellants' reliance on reducing the penalty substantially, emphasizing that each case must be assessed independently. The penalty amount was found to be lower than the statutory limit but deemed appropriate in this case, leading to the dismissal of the appeal. Case-Laws Companies Law Fri, 12 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262808