2015 (6) TMI 791

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.... with Mr. Manish Acharya and Ms. Khushboo J. Tatia, Advocates Per : J.P. Devadhar (Oral) 1. This appeal is filed to challenge order passed by the adjudicating officer of Securities and Exchange Board of India ('SEBI' for short) dated March 20, 2014 whereby penalty of Rs. 10 lac has been imposed upon the appellant for violating regulation 8(3) of the Securities and Exchange Board of India (Substa....

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.... and the same was revoked w.e.f. January 16, 2012. Therefore, there being no trading in the shares on the exchange, adjudicating officer was not justified in imposing penalty of Rs. 10 lac which is highly unreasonable; (c) Disclosures under regulation 8(3) of the SAST Regulations, 1997 are not disseminated by the stock exchanges and this reporting is only for academic purpose. Therefore, the find....