https://www.taxtmi.com/caselaws?id=308962 The Tribunal set aside the penalty imposed on the Appellant for violations of SEBI regulations regarding share acquisition and takeovers. The Tribunal found that the Appellant acted in good faith, with no dishonest intent, and the delay in compliance was due to a genuine belief that certain regulations did not apply. Considering the transitional period and lack of clarity on regulation applicability, the Tribunal concluded that imposing a monetary penalty was unwarranted, in line with Supreme Court guidelines. The appeal was allowed, and the penalty order was overturned. en-us Mon, 01 Jan 2001 00:00:00 +0530 Thu, 03 Aug 2023 14:19:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308962 The Tribunal set aside the penalty imposed on the Appellant for violations of SEBI regulations regarding share acquisition and takeovers. The Tribunal found that the Appellant acted in good faith, with no dishonest intent, and the delay in compliance was due to a genuine belief that certain regulations did not apply. Considering the transitional period and lack of clarity on regulation applicability, the Tribunal concluded that imposing a monetary penalty was unwarranted, in line with Supreme Court guidelines. The appeal was allowed, and the penalty order was overturned. Case-Laws SEBI Mon, 01 Jan 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308962