https://www.taxtmi.com/caselaws?id=287326 The Tribunal dismissed the appeal, upholding a penalty of Rs. 25,00,000 imposed by SEBI for the appellants' violation of Regulation 11(2) of the Takeover Regulations, 1997. The appellants, promoters of a company, acquired additional shares without a public announcement. Despite arguments regarding procedural delays and financial constraints, the Tribunal emphasized strict compliance with regulatory provisions and found the penalty proportionate to the breach. The Tribunal referenced SC precedents, affirming that mitigating factors do not apply under Section 15H(ii) of the SEBI Act. The appeal was dismissed without costs, recognizing inconsistencies in the appellants' arguments. en-us Fri, 04 Mar 2016 00:00:00 +0530 Thu, 14 Nov 2024 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287326 The Tribunal dismissed the appeal, upholding a penalty of Rs. 25,00,000 imposed by SEBI for the appellants' violation of Regulation 11(2) of the Takeover Regulations, 1997. The appellants, promoters of a company, acquired additional shares without a public announcement. Despite arguments regarding procedural delays and financial constraints, the Tribunal emphasized strict compliance with regulatory provisions and found the penalty proportionate to the breach. The Tribunal referenced SC precedents, affirming that mitigating factors do not apply under Section 15H(ii) of the SEBI Act. The appeal was dismissed without costs, recognizing inconsistencies in the appellants' arguments. Case-Laws SEBI Fri, 04 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287326