https://www.taxtmi.com/caselaws?id=441219 The Tribunal quashed the penalties imposed by the Adjudicating Officer of SEBI on eight noticees for fraudulent issuance of GDRs due to an unreasonable delay of 12 years in initiating proceedings. Emphasizing the need for timely action, the Tribunal referred to legal precedents and concluded that authorities must act promptly. The judgment highlighted the importance of exercising powers within a reasonable timeframe, leading to the dismissal of penalties and allowing the appeals without costs. en-us Thu, 18 May 2023 00:00:00 +0530 Thu, 03 Aug 2023 17:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441219 The Tribunal quashed the penalties imposed by the Adjudicating Officer of SEBI on eight noticees for fraudulent issuance of GDRs due to an unreasonable delay of 12 years in initiating proceedings. Emphasizing the need for timely action, the Tribunal referred to legal precedents and concluded that authorities must act promptly. The judgment highlighted the importance of exercising powers within a reasonable timeframe, leading to the dismissal of penalties and allowing the appeals without costs. Case-Laws SEBI Thu, 18 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441219