https://www.taxtmi.com/caselaws?id=292758 Penalty for violation of the insider trading code was reduced because it was found disproportionate to the nature of the default. The appellant admitted the contravention but relied on a modest gain, long service record, medical difficulties and a claimed communication gap with the broker. The Tribunal noted that while the penalty had been imposed with reference to the maximum framework and mitigating factors under the SEBI Act, the sanction still had to bear a reasonable relation to the violation. The monetary penalty was therefore reduced in light of the surrounding circumstances. en-us Wed, 27 Nov 2019 00:00:00 +0530 Thu, 07 Jan 2021 16:02:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292758 Penalty for violation of the insider trading code was reduced because it was found disproportionate to the nature of the default. The appellant admitted the contravention but relied on a modest gain, long service record, medical difficulties and a claimed communication gap with the broker. The Tribunal noted that while the penalty had been imposed with reference to the maximum framework and mitigating factors under the SEBI Act, the sanction still had to bear a reasonable relation to the violation. The monetary penalty was therefore reduced in light of the surrounding circumstances. Case-Laws SEBI Wed, 27 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292758