https://www.taxtmi.com/caselaws?id=308968 The tribunal allowed the appeal against the imposition of a penalty of Rs. 25 lakhs on 12 appellants for violating Regulation 11(1) of the SAST Regulations due to the significant delay in initiating proceedings. Emphasizing the importance of reasonable timelines in regulatory actions, the tribunal quashed the penalty, considering the lack of evidence and the prejudice caused by the delay. The decision highlighted the principle that authorities must act promptly, taking into account the circumstances of each case. en-us Thu, 05 Dec 2019 00:00:00 +0530 Thu, 03 Aug 2023 21:14:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308968 The tribunal allowed the appeal against the imposition of a penalty of Rs. 25 lakhs on 12 appellants for violating Regulation 11(1) of the SAST Regulations due to the significant delay in initiating proceedings. Emphasizing the importance of reasonable timelines in regulatory actions, the tribunal quashed the penalty, considering the lack of evidence and the prejudice caused by the delay. The decision highlighted the principle that authorities must act promptly, taking into account the circumstances of each case. Case-Laws SEBI Thu, 05 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308968