https://www.taxtmi.com/caselaws?id=308958 The Tribunal held that the acquisition of shares by way of pledge did not constitute an acquisition under regulation 10 as the appellant was not entitled to exercise voting rights for shares not registered in its name. Since the appellant's holding remained below the 10% threshold, no public announcement was required. Consequently, the penalty imposed by the Adjudicating Officer was deemed unjustified, and the appeal was allowed, setting aside the penalty order. en-us Tue, 28 Aug 2001 00:00:00 +0530 Thu, 03 Aug 2023 12:37:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308958 The Tribunal held that the acquisition of shares by way of pledge did not constitute an acquisition under regulation 10 as the appellant was not entitled to exercise voting rights for shares not registered in its name. Since the appellant's holding remained below the 10% threshold, no public announcement was required. Consequently, the penalty imposed by the Adjudicating Officer was deemed unjustified, and the appeal was allowed, setting aside the penalty order. Case-Laws SEBI Tue, 28 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308958