https://www.taxtmi.com/caselaws?id=269942 The Tribunal upheld SEBI's penalty of Rs. 5 lakh on the appellant company for failing to make annual disclosures under Regulation 8(3) of the Takeover Regulations, 1997, from March 31, 2002, to March 31, 2011. The Tribunal clarified that the obligation to disclose is continuous and not dependent on changes in shareholding, emphasizing transparency for investors. Mitigating factors were considered but did not excuse the company from its disclosure duties. The penalty amount was deemed reasonable, given the potential for a higher penalty under the SEBI Act. The appeal was dismissed. en-us Tue, 20 Oct 2015 00:00:00 +0530 Fri, 25 Dec 2015 08:48:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269942 The Tribunal upheld SEBI's penalty of Rs. 5 lakh on the appellant company for failing to make annual disclosures under Regulation 8(3) of the Takeover Regulations, 1997, from March 31, 2002, to March 31, 2011. The Tribunal clarified that the obligation to disclose is continuous and not dependent on changes in shareholding, emphasizing transparency for investors. Mitigating factors were considered but did not excuse the company from its disclosure duties. The penalty amount was deemed reasonable, given the potential for a higher penalty under the SEBI Act. The appeal was dismissed. Case-Laws Companies Law Tue, 20 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269942