https://www.taxtmi.com/caselaws?id=396569 The appellants were found to have violated Regulation 3(1) and Regulation 3(2) of the SAST Regulations by acquiring shares without making required public announcements, leading to penalties. They argued for exemption under Regulation 10 but were denied due to late disclosures and lack of 'persons acting in concert.' The Adjudicating Officer imposed a penalty of Rs. 15 lacs, reduced by the Tribunal to Rs. 5 lacs considering technical breach. The appeal was partly allowed, setting aside the original penalty amount and directing payment of the revised penalty of Rs. 5 lacs. en-us Tue, 17 Mar 2020 00:00:00 +0530 Sat, 11 Jul 2020 11:07:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396569 The appellants were found to have violated Regulation 3(1) and Regulation 3(2) of the SAST Regulations by acquiring shares without making required public announcements, leading to penalties. They argued for exemption under Regulation 10 but were denied due to late disclosures and lack of 'persons acting in concert.' The Adjudicating Officer imposed a penalty of Rs. 15 lacs, reduced by the Tribunal to Rs. 5 lacs considering technical breach. The appeal was partly allowed, setting aside the original penalty amount and directing payment of the revised penalty of Rs. 5 lacs. Case-Laws SEBI Tue, 17 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396569