https://www.taxtmi.com/caselaws?id=439678 The Supreme Court addressed the appellant's grievance regarding the reduction of penalty below the minimum prescribed under Section 15HB of the SEBI Act, 1992. The Court emphasized the mandatory nature of the penalty provisions, stating that penalties for contravention should not be less than one lakh rupees. The Tribunal's decision to reduce the penalty from Rs. 3,00,000 to Rs. 75,000 was found unjustified. The Court modified the penalty to Rs. 1,00,000 in line with the Act, disposing of the appeals. The judgment underscored the importance of upholding statutory penalty provisions under the SEBI Act. en-us Mon, 13 Feb 2023 00:00:00 +0530 Fri, 30 Jun 2023 09:34:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439678 The Supreme Court addressed the appellant's grievance regarding the reduction of penalty below the minimum prescribed under Section 15HB of the SEBI Act, 1992. The Court emphasized the mandatory nature of the penalty provisions, stating that penalties for contravention should not be less than one lakh rupees. The Tribunal's decision to reduce the penalty from Rs. 3,00,000 to Rs. 75,000 was found unjustified. The Court modified the penalty to Rs. 1,00,000 in line with the Act, disposing of the appeals. The judgment underscored the importance of upholding statutory penalty provisions under the SEBI Act. Case-Laws SEBI Mon, 13 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439678