https://www.taxtmi.com/caselaws?id=387565 Mandatory disclosure obligations under the securities regulatory framework must be complied with within the prescribed time, and belated disclosure does not wipe out the default; penalty liability therefore follows once non-compliance is established. In quantifying the sanction, the statutory factors showed no disproportionate gain, unfair advantage, or material investor loss from the delayed disclosures, but the repeated nature of the breach justified monetary punishment. The regulatory default was upheld, while the penalty was moderated from Rs. 40 lakhs to Rs. 30 lakhs after applying the factors governing proportionality and quantum. en-us Tue, 23 Jul 2019 00:00:00 +0530 Fri, 25 Oct 2019 13:51:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387565 Mandatory disclosure obligations under the securities regulatory framework must be complied with within the prescribed time, and belated disclosure does not wipe out the default; penalty liability therefore follows once non-compliance is established. In quantifying the sanction, the statutory factors showed no disproportionate gain, unfair advantage, or material investor loss from the delayed disclosures, but the repeated nature of the breach justified monetary punishment. The regulatory default was upheld, while the penalty was moderated from Rs. 40 lakhs to Rs. 30 lakhs after applying the factors governing proportionality and quantum. Case-Laws SEBI Tue, 23 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387565