COMPANY LAW/SEBI : Where appellant, promoter of target company, failed to make disclosures of change in shareholding in scrips of company and, thus, violated regulation 13 of PIT regulation and regulation 29 of SAST regulation, since, such transaction had neither caused disproportionate gain to appellant nor any loss to investors, penalty of Rs. 30 Lakh imposed on appellant was harsh and same was to be reduced to Rs. 3 lakhCOMPANY LAW/SEBI : Where appellant, promoter of target company, failed to make disclosures of change in shareholding in scrips of company and, thus, violated regulation 13 of PIT regulation and regulation 29 of SAST regulation, since, such transaction had neither caused disproportionate gain to appellant nor any loss to investors, penalty of Rs. 30 Lakh imposed on appellant was harsh and same was to be reduced to Rs. 3 lakhwww.taxmann.com Latest Case LawsRead More
