https://www.taxtmi.com/caselaws?id=283382 A listed company's code of conduct framed in compliance with the insider trading regulations was treated as part of the regulatory framework, so breach of trading window restrictions amounted to a violation enforceable by the Board under section 15HB. The Tribunal also held that, because the misconduct was confined to a code-of-conduct breach and not a substantive insider trading charge, the original penalty was excessive. Applying proportionality, it sustained the contravention finding but reduced the penalty to Rs. 25 lakhs. en-us Fri, 27 May 2011 00:00:00 +0530 Fri, 20 Sep 2019 14:39:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283382 A listed company's code of conduct framed in compliance with the insider trading regulations was treated as part of the regulatory framework, so breach of trading window restrictions amounted to a violation enforceable by the Board under section 15HB. The Tribunal also held that, because the misconduct was confined to a code-of-conduct breach and not a substantive insider trading charge, the original penalty was excessive. Applying proportionality, it sustained the contravention finding but reduced the penalty to Rs. 25 lakhs. Case-Laws SEBI Fri, 27 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283382