https://www.taxtmi.com/caselaws?id=381563 Disclosure obligations under the insider trading and takeover regulations were found to have been breached because the share transfer forms, original certificates and specimen signatures supported the conclusion that the appellant had in fact sold the shares; the contrary expert opinion was not accepted. The penalty could not be sustained in its existing form because the statutory factors under the SEBI Act, including mitigating circumstances and proportionality, had to be considered when fixing quantum. The finding of violation was affirmed, but the penalty of Rs. 4 crores was set aside and remanded for fresh determination. en-us Mon, 10 Jun 2019 00:00:00 +0530 Fri, 14 Jun 2019 07:32:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381563 Disclosure obligations under the insider trading and takeover regulations were found to have been breached because the share transfer forms, original certificates and specimen signatures supported the conclusion that the appellant had in fact sold the shares; the contrary expert opinion was not accepted. The penalty could not be sustained in its existing form because the statutory factors under the SEBI Act, including mitigating circumstances and proportionality, had to be considered when fixing quantum. The finding of violation was affirmed, but the penalty of Rs. 4 crores was set aside and remanded for fresh determination. Case-Laws SEBI Mon, 10 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381563