https://www.taxtmi.com/caselaws?id=197555 A quasi-judicial penalty order cannot rest on grounds or materials not contained in the show cause notice or supplied to the noticee; the FUTP findings were therefore unsustainable and were set aside. The Insider Trading Regulations breach for non-disclosure under Regulation 13 was nevertheless upheld because the notice, contemporaneous record, and the appellants' own replies supported the finding that the required disclosures were not made. With the FUTP charge deleted, the penalty had to be confined to the surviving violation and was correspondingly reduced. en-us Thu, 21 Jan 2010 00:00:00 +0530 Tue, 09 Jan 2018 18:56:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197555 A quasi-judicial penalty order cannot rest on grounds or materials not contained in the show cause notice or supplied to the noticee; the FUTP findings were therefore unsustainable and were set aside. The Insider Trading Regulations breach for non-disclosure under Regulation 13 was nevertheless upheld because the notice, contemporaneous record, and the appellants' own replies supported the finding that the required disclosures were not made. With the FUTP charge deleted, the penalty had to be confined to the surviving violation and was correspondingly reduced. Case-Laws Companies Law Thu, 21 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197555