2014 (3) TMI 1153

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....able Mr. A.S. Lamba, Member Judgment: J.P. Devadhar, Presiding Officer (Oral) 1. This appeal is filed to challenge adjudication order dated July 26, 2013 whereby penalty of Rs. 2 lac has been imposed upon the appellant under Section 15HB of the SEBI Act, 1992 for not closing the trading window prior to the meeting of the Board of Directors of the appellant company held on April 30, 2009 a....

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....o failure on part of Compliance Officer in not closing the trading window has not been raised. However, in the impugned order it is held that alleged violation recorded in the show cause notice against Compliance Officer does not stand established. 4. Thus, while holding that in the facts of present case, Compliance Officer is liable for not closing the trading window, in fact it is held that C....