https://www.taxtmi.com/caselaws?id=268578 The Supreme Court held that the Securities Appellate Tribunal (SAT) erred in reducing penalties based on extraneous factors not specified in Section 15J of the SEBI Act. The Court determined the default as a one-time infraction, applying the pre-amendment penalty of Rs. 1.5 lakhs. The SAT's decision was set aside, and penalties of Rs. 1.5 lakhs were imposed on each Respondent. The interim stay order was lifted, with no cost orders issued. en-us Thu, 26 Nov 2015 00:00:00 +0530 Wed, 13 May 2026 17:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268578 The Supreme Court held that the Securities Appellate Tribunal (SAT) erred in reducing penalties based on extraneous factors not specified in Section 15J of the SEBI Act. The Court determined the default as a one-time infraction, applying the pre-amendment penalty of Rs. 1.5 lakhs. The SAT's decision was set aside, and penalties of Rs. 1.5 lakhs were imposed on each Respondent. The interim stay order was lifted, with no cost orders issued. Case-Laws Companies Law Thu, 26 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268578