https://www.taxtmi.com/caselaws?id=361852 The Appellate Tribunal addressed the appeal against the penalty imposed by SEBI on the appellant for aiding and abetting in off-loading fraudulently dematted excess shares. SEBI had earlier imposed a penalty of Rs. 1 lac, which was set aside for a fresh decision. Ultimately, a penalty of Rs. 16 lac was imposed on the appellant for violating PFUTP Regulations. The Tribunal criticized SEBI for alleged leniency towards other entities involved and for failing to penalize the depositories and the main culprit orchestrating the fraudulent off-loading. The Tribunal highlighted discrepancies in penalty imposition and dropped adjudication proceedings, remanding the matter for a fresh decision to ensure market integrity. en-us Fri, 04 May 2018 00:00:00 +0530 Fri, 15 Jun 2018 10:07:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361852 The Appellate Tribunal addressed the appeal against the penalty imposed by SEBI on the appellant for aiding and abetting in off-loading fraudulently dematted excess shares. SEBI had earlier imposed a penalty of Rs. 1 lac, which was set aside for a fresh decision. Ultimately, a penalty of Rs. 16 lac was imposed on the appellant for violating PFUTP Regulations. The Tribunal criticized SEBI for alleged leniency towards other entities involved and for failing to penalize the depositories and the main culprit orchestrating the fraudulent off-loading. The Tribunal highlighted discrepancies in penalty imposition and dropped adjudication proceedings, remanding the matter for a fresh decision to ensure market integrity. Case-Laws Companies Law Fri, 04 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361852