https://www.taxtmi.com/caselaws?id=781883 The AT held that Regulation 33(3) of SEBI LODR applies to listed entities having subsidiaries for preparation and submission of quarterly consolidated financial statements. Entities without subsidiaries but with associates/joint ventures are not mandatorily required to file quarterly consolidated results, though such associates/JVs must be consolidated if consolidated results are otherwise prepared. Finding ambiguity in BSE's interpretation and noting SEBI's failure to clarify despite being impleaded, the AT extended the benefit of doubt to the appellant and held there was no violation of Regulation 33(3). Consequently, the fines imposed for alleged non-compliance lacked basis. The appeal was allowed, the suspension of trading in the appellant's scrip directed to be lifted, and the promoter's demat accounts ordered to be de-frozen immediately. en-us Wed, 30 Apr 2025 00:00:00 +0530 Sat, 22 Nov 2025 07:36:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781883 The AT held that Regulation 33(3) of SEBI LODR applies to listed entities having subsidiaries for preparation and submission of quarterly consolidated financial statements. Entities without subsidiaries but with associates/joint ventures are not mandatorily required to file quarterly consolidated results, though such associates/JVs must be consolidated if consolidated results are otherwise prepared. Finding ambiguity in BSE's interpretation and noting SEBI's failure to clarify despite being impleaded, the AT extended the benefit of doubt to the appellant and held there was no violation of Regulation 33(3). Consequently, the fines imposed for alleged non-compliance lacked basis. The appeal was allowed, the suspension of trading in the appellant's scrip directed to be lifted, and the promoter's demat accounts ordered to be de-frozen immediately. Case-Laws SEBI Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781883