{"id":196000,"date":"2018-05-14T12:35:32","date_gmt":"2018-05-14T07:05:32","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=196000"},"modified":"2018-06-29T15:47:40","modified_gmt":"2018-06-29T10:17:40","slug":"suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/","title":{"rendered":"Suspension of trading, delisting of company only mitigating factors, not grounds to escape liability for flouting SEBI circulars"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>Securities Appellate Tribunal, Mumbai: <\/strong>The<strong>\u00a0<\/strong>SAT, Mumbai has held that delisting of a company is not a tenable ground to be held unaccountable for non-compliance with SEBI circulars. In\u00a0Pashupati\u00a0Cables Ltd. v. SEBI, the Tribunal heard an appeal against a penalty of Rs. 6 lakhs imposed by SEBI on the appellant company for not getting SEBI Complaint Redress System (SCORES) Authentication in violation of circulars issued by the SEBI in June 2011, August 2012, April 2013, and July 2014.<span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:200,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\">The appellant contended that they had been served no show-cause notice preceding the imposition of the penalty; the company had suspended trading in the scrip in March 1999, had caused no harm to investors and had been de-listed in July 2017. Hence the order passed in December 2017 was bad in law.<span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:200,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\">The SAT rejected all the above contentions, observing that since the SEBI issued circulars multiple times, issuing a show-cause notice to the appellant would be futile. It further said that the grounds of trading in scrip being suspended and no loss to investors would not hold as being a listed company while the circulars were issued made it obligatory for the appellant to obtain SCORES authentication and even de-listing would not absolve the appellant of the breaches committed before the said de-listing took place. The contentions raised can only be used as a mitigating factor.<span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:200,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\">Keeping in mind that violation of SEBI circulars can lead to the imposition of a penalty up to Rs. 1 crore under Section 15 HB of the SEBI Act and the appellant was only\u00a0penalised\u00a0to the extent of Rs. 6 lakhs, the Adjudicating Officer was justified and had taken into consideration the mitigating factors.<span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:200,&quot;335559740&quot;:276}\">\u00a0<\/span>The appeal was accordingly dismissed. [Pashupati\u00a0Cables Ltd.\u00a0v.\u00a0Securities and Exchange Board of India,<a href=\"http:\/\/www.scconline.com\/DocumentLink\/0OxhA01W\">2018 SCC OnLine SAT 69<\/a>, decided on\u00a007-05-2018]<span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:200,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Securities Appellate Tribunal, Mumbai: The\u00a0SAT, Mumbai has held that delisting of a company is not a tenable ground to be held unaccountable <\/p>\n","protected":false},"author":91,"featured_media":30221,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,11],"tags":[],"class_list":["post-196000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Suspension of trading, delisting of company only mitigating factors, not grounds to escape liability for flouting SEBI circulars | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Suspension of trading, delisting of company only mitigating factors, not grounds to escape liability for flouting SEBI circulars\" \/>\n<meta property=\"og:description\" content=\"Securities Appellate Tribunal, Mumbai: The\u00a0SAT, Mumbai has held that delisting of a company is not a tenable ground to be held unaccountable\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-14T07:05:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-06-29T10:17:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/appoointment.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1330\" \/>\n\t<meta property=\"og:image:height\" content=\"887\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Saba\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Saba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/\",\"name\":\"Suspension of trading, delisting of company only mitigating factors, not grounds to escape liability for flouting SEBI circulars | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/appoointment.jpg\",\"datePublished\":\"2018-05-14T07:05:32+00:00\",\"dateModified\":\"2018-06-29T10:17:40+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/e8e76b10dfc9c0d576324bfdbb2c2785\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/appoointment.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/appoointment.jpg\",\"width\":1330,\"height\":887},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Suspension of trading, delisting of company only mitigating factors, not grounds to escape liability for flouting SEBI circulars\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/e8e76b10dfc9c0d576324bfdbb2c2785\",\"name\":\"Saba\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a815285315cd85d8b3246c60ed8ed99825949c1b85b370c49212daa54ededa98?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a815285315cd85d8b3246c60ed8ed99825949c1b85b370c49212daa54ededa98?s=96&d=mm&r=g\",\"caption\":\"Saba\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/editor_2\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Suspension of trading, delisting of company only mitigating factors, not grounds to escape liability for flouting SEBI circulars | SCC Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/","og_locale":"en_US","og_type":"article","og_title":"Suspension of trading, delisting of company only mitigating factors, not grounds to escape liability for flouting SEBI circulars","og_description":"Securities Appellate Tribunal, Mumbai: The\u00a0SAT, Mumbai has held that delisting of a company is not a tenable ground to be held unaccountable","og_url":"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2018-05-14T07:05:32+00:00","article_modified_time":"2018-06-29T10:17:40+00:00","og_image":[{"width":1330,"height":887,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/appoointment.jpg","type":"image\/jpeg"}],"author":"Saba","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Saba","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/","url":"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/","name":"Suspension of trading, delisting of company only mitigating factors, not grounds to escape liability for flouting SEBI circulars | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/appoointment.jpg","datePublished":"2018-05-14T07:05:32+00:00","dateModified":"2018-06-29T10:17:40+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/e8e76b10dfc9c0d576324bfdbb2c2785"},"breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/appoointment.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/appoointment.jpg","width":1330,"height":887},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/14\/suspension-of-trading-delisting-of-company-only-mitigating-factors-not-grounds-to-escape-liability-for-flouting-sebi-circulars\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Suspension of trading, delisting of company only mitigating factors, not grounds to escape liability for flouting SEBI circulars"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/e8e76b10dfc9c0d576324bfdbb2c2785","name":"Saba","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a815285315cd85d8b3246c60ed8ed99825949c1b85b370c49212daa54ededa98?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a815285315cd85d8b3246c60ed8ed99825949c1b85b370c49212daa54ededa98?s=96&d=mm&r=g","caption":"Saba"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/editor_2\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/appoointment.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":297902,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/28\/french-company-schneider-electric-withdraws-appeal-against-sebi-order-sat-directs-comply-order\/","url_meta":{"origin":196000,"position":0},"title":"Schneider Electric withdraws appeal against SEBI&#8217;s Order; SAT directs it to comply with the order","author":"Editor","date":"July 28, 2023","format":false,"excerpt":"SEBI had directed the French company to either re-list on a nationwide stock exchange or provide an exit opportunity to its public shareholders through the delisting mechanism.","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"securities appellate tribunal, mumbai","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/securities-appellate-tribunal-mumbai.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/securities-appellate-tribunal-mumbai.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/securities-appellate-tribunal-mumbai.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/securities-appellate-tribunal-mumbai.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":215172,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/05\/30\/sat-objective-of-sebi-act-is-to-regulate-healthy-growth-of-securities-market-no-action-to-be-taken-without-following-the-principles-of-natural-justice\/","url_meta":{"origin":196000,"position":1},"title":"SAT | Objective of SEBI Act is to regulate healthy growth of securities market: No action to be taken without following principles of natural justice","author":"Bhumika Indulia","date":"May 30, 2019","format":false,"excerpt":"Securities Appellate Tribunal (SAT): The Coram of Tarun Agarwala, J. (Presiding Officer), Dr C.K.G Nair (Member) and M.T. Joshi, J. (Judicial Member) allowed an appeal against the order of delisting the company as a shell company by Bombay Stock Exchange (BSE) and Securities and Exchange Board of India (SEBI). An\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":120031,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/04\/07\/sebi-circulars-cannot-be-challenged-in-sat-rules-supreme-court-of-india\/","url_meta":{"origin":196000,"position":2},"title":"SEBI Circulars cannot be challenged in SAT: Rules Supreme Court of India","author":"Prachi Bhardwaj","date":"April 7, 2017","format":false,"excerpt":"By Mr. Audip Ghosh, Senior Associate Partner at ROYZZ & CO. He can be contacted at audip[at]royzz[dot]com.","rel":"","context":"In &quot;Op Eds&quot;","block_context":{"text":"Op Eds","link":"https:\/\/www.scconline.com\/blog\/post\/category\/op-ed\/legal-analysis\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":241772,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/05\/sebi-whether-a-company-can-be-exempted-from-minimum-public-shareholding-requirement-and-whether-requirement-of-receiving-consent-of-at-least-90-of-public-shareholders-of-a-company-for-delisting-can\/","url_meta":{"origin":196000,"position":3},"title":"SEBI | Whether a company be exempted from min. public shareholding requirement and whether requirement of receiving 90% shareholders&#8217; consent for Delisting be relaxed? SEBI replies in affirmative","author":"Editor","date":"January 5, 2021","format":false,"excerpt":"Security and Exchange Board of India (SEBI): S. K. Mohanty, (Whole Time Member) granted exemptions to the United Provinces Sugar Company Ltd. from the requirements of complying with Minimum Public Shareholding (\u201cMPS\u201d) norms as mandated under rule 19 (2) (b) of provisions of Securities Contracts (Regulations) Rules, 1957 (\u201cSCRR\u201d) and\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":271319,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/08\/06\/sat-directions-of-debarment-and-the-penalty-imposed-by-whole-time-member-held-to-be-harsh-and-excessive-penalty-reduced-by-75\/","url_meta":{"origin":196000,"position":4},"title":"SAT | Directions of debarment and the penalty imposed by Whole time Member held to be harsh and excessive ; Penalty reduced by 75%","author":"Editor","date":"August 6, 2022","format":false,"excerpt":"\u00a0 \u00a0 Securities Appellate Tribunal, Mumbai (SAT): While dealing with the appeal preferred by the appellants against the order dated 08-06-2021 of the Whole Time Member (\u2018WTM'), the Coram of Tarun Agarwala, J. (Presiding Officer), M.T. Joshi, J. (Judicial Member), Meera Swarup (Technical Member) held that the directions of debarment\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"SAT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/08\/MicrosoftTeams-image-401.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/08\/MicrosoftTeams-image-401.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/08\/MicrosoftTeams-image-401.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/08\/MicrosoftTeams-image-401.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/08\/MicrosoftTeams-image-401.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":234899,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/27\/sat-reason-for-bringing-in-a-minimum-pubic-shareholding-requirement-under-securities-contracts-regulations-rules-is-to-ensure-non-concentration-of-shares-at-the-hands-of-a-single-person-or-a-group\/","url_meta":{"origin":196000,"position":5},"title":"SAT | Reason for bringing in a minimum public shareholding requirement under Securities Contracts (Regulations) Rules is to ensure non-concentration of shares at the hands of a single person or a group of persons","author":"Editor","date":"August 27, 2020","format":false,"excerpt":"Securities Appellate Tribunal: The Coram of Tarun Aggarwal (Presiding Officer), C.K.G Nair (Member) and M.T. Joshi (Judicial Officer) dismissed the appeal of the appellant and upheld the impugned order by SEBI. The facts leading to the filing of the present appeal are that the appellant is a public limited company\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/196000","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/91"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=196000"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/196000\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/30221"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=196000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=196000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=196000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}