https://www.taxtmi.com/caselaws?id=402798 A signed binding agreement for a proposed amalgamation was treated as materially price sensitive information requiring immediate disclosure under the securities disclosure framework, because the test is immediacy and market impact rather than complete contractual finality. The agreement had substantive commercial terms, was signed by authorised representatives, and was followed by board action and market disclosure the same day, so the disclosure violation was upheld. However, prolonged and unexplained delay in issuing the notice and completing proceedings caused prejudice on the facts and justified substantial mitigation of the monetary consequence, with the penalty replaced by a warning. en-us Wed, 08 Jul 2020 00:00:00 +0530 Wed, 13 Jan 2021 11:39:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402798 A signed binding agreement for a proposed amalgamation was treated as materially price sensitive information requiring immediate disclosure under the securities disclosure framework, because the test is immediacy and market impact rather than complete contractual finality. The agreement had substantive commercial terms, was signed by authorised representatives, and was followed by board action and market disclosure the same day, so the disclosure violation was upheld. However, prolonged and unexplained delay in issuing the notice and completing proceedings caused prejudice on the facts and justified substantial mitigation of the monetary consequence, with the penalty replaced by a warning. Case-Laws SEBI Wed, 08 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402798