https://www.taxtmi.com/caselaws?id=783599 Fraudulent preferential allotment of shares was examined in the context of joint and several penalty under section 15HA, where the appellant denied linkage with other entities and relied on a delay of more than 10 years in issuing the show cause notice. The Tribunal found a clear connection in the flow of funds, held the appellant liable for self-financing of the company's own preferential shares, and treated the conduct as a violation of the PFUTP Regulations and Regulation 77(2) of the Companies Act, 1956. The Court found no ground to interfere with the impugned order and noted that delay by itself was not sufficient to defeat the matter. en-us Mon, 15 Dec 2025 00:00:00 +0530 Thu, 18 Dec 2025 08:02:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783599 Fraudulent preferential allotment of shares was examined in the context of joint and several penalty under section 15HA, where the appellant denied linkage with other entities and relied on a delay of more than 10 years in issuing the show cause notice. The Tribunal found a clear connection in the flow of funds, held the appellant liable for self-financing of the company's own preferential shares, and treated the conduct as a violation of the PFUTP Regulations and Regulation 77(2) of the Companies Act, 1956. The Court found no ground to interfere with the impugned order and noted that delay by itself was not sufficient to defeat the matter. Case-Laws SEBI Mon, 15 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783599