https://www.taxtmi.com/caselaws?id=387566 The Tribunal found the appellants guilty of inadequate disclosure of material information in the offer documents but clarified that the non-disclosures were technical in nature. No evidence of connivance in diverting IPO proceeds was found, with most of the allegedly transferred funds being returned. The Adjudicating Officer imposed a penalty, which the Tribunal deemed disproportionate, reducing the debarment period and setting aside the monetary penalties. The appeal was allowed, and no costs were ordered. en-us Fri, 02 Aug 2019 00:00:00 +0530 Fri, 25 Oct 2019 13:55:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387566 The Tribunal found the appellants guilty of inadequate disclosure of material information in the offer documents but clarified that the non-disclosures were technical in nature. No evidence of connivance in diverting IPO proceeds was found, with most of the allegedly transferred funds being returned. The Adjudicating Officer imposed a penalty, which the Tribunal deemed disproportionate, reducing the debarment period and setting aside the monetary penalties. The appeal was allowed, and no costs were ordered. Case-Laws SEBI Fri, 02 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387566