https://www.taxtmi.com/caselaws?id=384400 A listed company must disclose a material event affecting its financial position promptly and immediately when it occurs; belated disclosure through financial statements does not cure the failure because Clause 36 operates independently of periodic reporting. The text also states that disclosure under the insider-trading regulations is complete only on actual receipt by the stock exchange, so mere dispatch is insufficient where receipt is not proved. On compliance-officer liability, the article notes that responsibility for a conscious management-level non-disclosure under Clause 36 should not be fastened on the officer, while liability may remain for the separate disclosure obligation tied to share dealings and timely exchange receipt. en-us Wed, 07 Aug 2019 00:00:00 +0530 Tue, 13 Aug 2019 13:49:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384400 A listed company must disclose a material event affecting its financial position promptly and immediately when it occurs; belated disclosure through financial statements does not cure the failure because Clause 36 operates independently of periodic reporting. The text also states that disclosure under the insider-trading regulations is complete only on actual receipt by the stock exchange, so mere dispatch is insufficient where receipt is not proved. On compliance-officer liability, the article notes that responsibility for a conscious management-level non-disclosure under Clause 36 should not be fastened on the officer, while liability may remain for the separate disclosure obligation tied to share dealings and timely exchange receipt. Case-Laws SEBI Wed, 07 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384400