https://www.taxtmi.com/caselaws?id=308225 The Tribunal upheld the validity of the ex-parte ad-interim order dated 13th December, 2021, directing the appellants to complete the open offer process within 60 days, despite non-compliance for over a decade. The order was deemed justified in safeguarding investors' interests and did not constitute double penalization. The appellants were instructed to comply with SEBI's 2010 order, make the public offer, and deposit a specified sum with interest. The calculated open offer value was subject to revision based on the appellants' objections. The Tribunal dismissed the appeal, affirming the WTM's order as valid and essential for market integrity. en-us Tue, 10 Jan 2023 00:00:00 +0530 Wed, 07 Jun 2023 21:43:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308225 The Tribunal upheld the validity of the ex-parte ad-interim order dated 13th December, 2021, directing the appellants to complete the open offer process within 60 days, despite non-compliance for over a decade. The order was deemed justified in safeguarding investors' interests and did not constitute double penalization. The appellants were instructed to comply with SEBI's 2010 order, make the public offer, and deposit a specified sum with interest. The calculated open offer value was subject to revision based on the appellants' objections. The Tribunal dismissed the appeal, affirming the WTM's order as valid and essential for market integrity. Case-Laws SEBI Tue, 10 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308225