https://www.taxtmi.com/caselaws?id=308970 The Tribunal allowed the appeals, quashing the order requiring the acquirers, heirs of deceased, and promoters to make an open offer under SEBI Act and SAST Regulations. The liability of legal heirs for violations by deceased acquirers was dismissed, emphasizing that the obligation ceased with the acquirers' death. The Tribunal found no evidence of promoters acting in concert and criticized SEBI for a 12-year delay in proceedings, deeming it unreasonable. It held that proceedings against deceased persons were illegal and directing an open offer after 12 years was inappropriate. The Tribunal directed each party to bear its costs and stressed SEBI's need for timely proceedings. en-us Fri, 09 Jul 2021 00:00:00 +0530 Thu, 03 Aug 2023 21:14:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308970 The Tribunal allowed the appeals, quashing the order requiring the acquirers, heirs of deceased, and promoters to make an open offer under SEBI Act and SAST Regulations. The liability of legal heirs for violations by deceased acquirers was dismissed, emphasizing that the obligation ceased with the acquirers' death. The Tribunal found no evidence of promoters acting in concert and criticized SEBI for a 12-year delay in proceedings, deeming it unreasonable. It held that proceedings against deceased persons were illegal and directing an open offer after 12 years was inappropriate. The Tribunal directed each party to bear its costs and stressed SEBI's need for timely proceedings. Case-Laws SEBI Fri, 09 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308970