https://www.taxtmi.com/caselaws?id=272281 The Tribunal held that the obligation to disclose under regulation 7(1A) arises when an acquirer, along with persons acting in concert, sells shares exceeding 2% of the target company's share capital. However, as regulation 7(2) does not mandate disclosure of share sales, the appellants could not be penalized for not disclosing sales under regulation 7(1A) in conjunction with regulation 7(2). The penalty imposed by SEBI was deemed unjustified, and all appeals were disposed of without costs. en-us Wed, 16 Dec 2015 00:00:00 +0530 Fri, 04 Mar 2016 10:51:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272281 The Tribunal held that the obligation to disclose under regulation 7(1A) arises when an acquirer, along with persons acting in concert, sells shares exceeding 2% of the target company's share capital. However, as regulation 7(2) does not mandate disclosure of share sales, the appellants could not be penalized for not disclosing sales under regulation 7(1A) in conjunction with regulation 7(2). The penalty imposed by SEBI was deemed unjustified, and all appeals were disposed of without costs. Case-Laws Companies Law Wed, 16 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272281