https://www.taxtmi.com/caselaws?id=194125 Penalty for non-disclosure under takeover and insider trading regulations was not sustainable where the temporary crossing of the shareholding threshold arose from tranche-wise conversion of warrants and there was no material showing that the appellants knew their holding would exceed the prescribed limit. The disclosure-related penalty was therefore set aside. By contrast, non-compliance with statutory summons, including failure to furnish particulars and failure to appear, constituted a punishable default under the SEBI framework, and the penalties on that count were upheld as neither excessive nor unreasonable. en-us Thu, 14 Jul 2016 00:00:00 +0530 Wed, 30 Aug 2017 10:56:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194125 Penalty for non-disclosure under takeover and insider trading regulations was not sustainable where the temporary crossing of the shareholding threshold arose from tranche-wise conversion of warrants and there was no material showing that the appellants knew their holding would exceed the prescribed limit. The disclosure-related penalty was therefore set aside. By contrast, non-compliance with statutory summons, including failure to furnish particulars and failure to appear, constituted a punishable default under the SEBI framework, and the penalties on that count were upheld as neither excessive nor unreasonable. Case-Laws Indian Laws Thu, 14 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194125