https://www.taxtmi.com/caselaws?id=283402 The Tribunal upheld the penalty imposed on a stockbroker for violating regulations 3 and 4 of the FUTP Regulations by making misleading disclosures about promoter shareholding to the National Stock Exchange. The appellant's explanation for discrepancies in disclosures was rejected, as it was found that shares had been transferred and sold before the disclosures. The Tribunal held the appellant, as a director, and the company liable for the violations, affirming the penalty based on inaccurate disclosures creating a false impression for investors. en-us Thu, 22 Dec 2011 00:00:00 +0530 Sat, 21 Sep 2019 12:27:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283402 The Tribunal upheld the penalty imposed on a stockbroker for violating regulations 3 and 4 of the FUTP Regulations by making misleading disclosures about promoter shareholding to the National Stock Exchange. The appellant's explanation for discrepancies in disclosures was rejected, as it was found that shares had been transferred and sold before the disclosures. The Tribunal held the appellant, as a director, and the company liable for the violations, affirming the penalty based on inaccurate disclosures creating a false impression for investors. Case-Laws SEBI Thu, 22 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283402