https://www.taxtmi.com/caselaws?id=303278 The Tribunal held that the appellants, part of the promoter group, did not violate Regulation 10 of the SAST Regulations, 1997, as their collective shareholding always exceeded 15%. However, the appellants breached Regulation 11(1) by exceeding the 5% limit on creeping acquisition. Despite the delay in issuing the notice, a monetary penalty of Rs. 25 lac was imposed on the appellants for the breach. The requirement for a public announcement was waived, and the penalty was to be paid within six weeks. en-us Wed, 19 Jun 2013 00:00:00 +0530 Tue, 12 Jul 2022 15:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303278 The Tribunal held that the appellants, part of the promoter group, did not violate Regulation 10 of the SAST Regulations, 1997, as their collective shareholding always exceeded 15%. However, the appellants breached Regulation 11(1) by exceeding the 5% limit on creeping acquisition. Despite the delay in issuing the notice, a monetary penalty of Rs. 25 lac was imposed on the appellants for the breach. The requirement for a public announcement was waived, and the penalty was to be paid within six weeks. Case-Laws SEBI Wed, 19 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303278