https://www.taxtmi.com/caselaws?id=403403 The Tribunal held that the SEBI's penalty imposition was against the NCLT-approved resolution plan, extinguishing all liabilities. The penalty order was quashed, and the appeal allowed with no costs. The adjudicating officer's failure to recognize the binding resolution plan was criticized, emphasizing the plan's supremacy post-approval. SEBI was barred from penalizing the appellant for pre-acquisition actions. The Chairman of SEBI was advised to instruct the adjudicating officer accordingly. en-us Thu, 29 Oct 2020 00:00:00 +0530 Thu, 28 Jan 2021 10:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403403 The Tribunal held that the SEBI's penalty imposition was against the NCLT-approved resolution plan, extinguishing all liabilities. The penalty order was quashed, and the appeal allowed with no costs. The adjudicating officer's failure to recognize the binding resolution plan was criticized, emphasizing the plan's supremacy post-approval. SEBI was barred from penalizing the appellant for pre-acquisition actions. The Chairman of SEBI was advised to instruct the adjudicating officer accordingly. Case-Laws SEBI Thu, 29 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403403