https://www.taxtmi.com/caselaws?id=365270 The tribunal upheld SEBI's penalties of Rs. 72 lakh each under Section 15HA of SEBI Act against the appellants for offloading shares post positive corporate announcements, despite their arguments of not being promoters. The tribunal found evidence linking the appellants to the company and fraudulent schemes, justifying the penalties imposed. The appellants' contentions of errors in filings and lack of involvement in announcements were dismissed, with the tribunal affirming their promoter status and the penalties under SEBI Act. The appeals were dismissed, and no costs were awarded. en-us Thu, 28 Jun 2018 00:00:00 +0530 Tue, 14 Aug 2018 07:43:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365270 The tribunal upheld SEBI's penalties of Rs. 72 lakh each under Section 15HA of SEBI Act against the appellants for offloading shares post positive corporate announcements, despite their arguments of not being promoters. The tribunal found evidence linking the appellants to the company and fraudulent schemes, justifying the penalties imposed. The appellants' contentions of errors in filings and lack of involvement in announcements were dismissed, with the tribunal affirming their promoter status and the penalties under SEBI Act. The appeals were dismissed, and no costs were awarded. Case-Laws Companies Law Thu, 28 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365270