https://www.taxtmi.com/caselaws?id=196753 The appellant, a merchant banker, was found guilty of lack of due diligence in a case involving misleading information in a public issue prospectus. The appellant certified false statements, leading to innocent investors purchasing shares that could not be transferred, resulting in financial loss. The Securities and Exchange Board of India imposed a penalty of debarment from securities dealings for three years. The tribunal upheld the penalty but reduced the debarment period to six months, emphasizing the importance of due diligence in protecting investors and market integrity. en-us Tue, 24 Apr 2007 00:00:00 +0530 Wed, 13 Dec 2017 16:10:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196753 The appellant, a merchant banker, was found guilty of lack of due diligence in a case involving misleading information in a public issue prospectus. The appellant certified false statements, leading to innocent investors purchasing shares that could not be transferred, resulting in financial loss. The Securities and Exchange Board of India imposed a penalty of debarment from securities dealings for three years. The tribunal upheld the penalty but reduced the debarment period to six months, emphasizing the importance of due diligence in protecting investors and market integrity. Case-Laws Companies Law Tue, 24 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196753