https://www.taxtmi.com/caselaws?id=464981 Appeals before SAT arising from SEBI's order imposing penalty u/s 15HA for fraudulent and unfair trade practices were dismissed. A technical director had signed financial statements containing misleading figures, while other noticees received shares from promoters, sold them through the stock exchange, and routed the sale proceeds back to promoters and connected entities. The appellants admitted the violations but claimed they acted at another's instance. SAT held the charges were serious, financial misstatements adversely impact the securities market, and the admissions left no issue for reconsideration. Additionally, the appeals suffered from inordinate, unexplained delay, warranting dismissal. en-us Wed, 23 Oct 2024 00:00:00 +0530 Thu, 27 Nov 2025 19:55:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464981 Appeals before SAT arising from SEBI's order imposing penalty u/s 15HA for fraudulent and unfair trade practices were dismissed. A technical director had signed financial statements containing misleading figures, while other noticees received shares from promoters, sold them through the stock exchange, and routed the sale proceeds back to promoters and connected entities. The appellants admitted the violations but claimed they acted at another's instance. SAT held the charges were serious, financial misstatements adversely impact the securities market, and the admissions left no issue for reconsideration. Additionally, the appeals suffered from inordinate, unexplained delay, warranting dismissal. Case-Laws SEBI Wed, 23 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464981