https://www.taxtmi.com/caselaws?id=264992 Timely disclosure obligations under the insider trading regulations were treated as mandatory, and breach of those duties attracted penalty despite the absence of profit, investor loss, repetition, or mala fides. The tribunal noted that penalty assessment may be moderated by the statutory mitigating factors, but those factors did not negate liability. An opposite transaction in shares also supported imposition of penalty. The penalties were therefore upheld as reasonable and not excessive, and the appeal failed on merits, leaving the adjudication order undisturbed. en-us Tue, 04 Aug 2015 00:00:00 +0530 Sun, 04 Oct 2015 21:40:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264992 Timely disclosure obligations under the insider trading regulations were treated as mandatory, and breach of those duties attracted penalty despite the absence of profit, investor loss, repetition, or mala fides. The tribunal noted that penalty assessment may be moderated by the statutory mitigating factors, but those factors did not negate liability. An opposite transaction in shares also supported imposition of penalty. The penalties were therefore upheld as reasonable and not excessive, and the appeal failed on merits, leaving the adjudication order undisturbed. Case-Laws Companies Law Tue, 04 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264992