https://www.taxtmi.com/caselaws?id=442953 The appeals were made against penalties imposed for noncompliance with SEBI regulations on related party transactions and independence of directors. The Company was found to have breached regulations by engaging in related party transactions without proper approval and appointing relatives of independent directors. The penalties were initially deemed excessive but were reduced upon appeal. The penalty for the Company was reduced from Rs. 25 lakhs to Rs. 10 lakhs, while penalties for independent directors were reduced from Rs. 10 lakhs each to Rs. 5 lakhs each. The penalty for the Company Secretary was reduced from Rs. 4 lakhs to Rs. 1 lakh. The appeals were partly allowed, modifying the order accordingly. en-us Mon, 12 Jun 2023 00:00:00 +0530 Wed, 13 Sep 2023 17:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442953 The appeals were made against penalties imposed for noncompliance with SEBI regulations on related party transactions and independence of directors. The Company was found to have breached regulations by engaging in related party transactions without proper approval and appointing relatives of independent directors. The penalties were initially deemed excessive but were reduced upon appeal. The penalty for the Company was reduced from Rs. 25 lakhs to Rs. 10 lakhs, while penalties for independent directors were reduced from Rs. 10 lakhs each to Rs. 5 lakhs each. The penalty for the Company Secretary was reduced from Rs. 4 lakhs to Rs. 1 lakh. The appeals were partly allowed, modifying the order accordingly. Case-Laws SEBI Mon, 12 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442953