{"id":217946,"date":"2019-08-12T14:30:59","date_gmt":"2019-08-12T09:00:59","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=217946"},"modified":"2019-08-23T12:23:31","modified_gmt":"2019-08-23T06:53:31","slug":"sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/","title":{"rendered":"SAT | Penalty imposed on appellants for\u00a0violation of SCRA waived off by BSE; matter remanded for fresh adjudication"},"content":{"rendered":"

Securities Appellate Tribunal (SAT), Mumbai:<\/strong>\u00a0Coram of Justice Tarun Agarwala, (Presiding Officer), Dr C.K.G. Nair (Member), and Justice M.T. Joshi, (Judicial Member) directed an Adjudicating Officer to look into a matter afresh since BSE waived off the penalty imposed by them on the appellants.<\/p>\n

The appellant, in this case, failed to comply with the provisions of Rule 19 of the Securities Contract (Regulation) Rules, 1957 (SCRR) with regard to the continuous listing.\u00a0 An Adjudicating Officer, therefore, imposed a penalty of Rs 4 lakhs under Section 23-E of the Securities Contracts (Regulation) Act, 1956 (SCRA). The said penalty was imposed inspite of the fact that the appellant had contended that the MPS requirement was not required to be done in view of the order passed by Board for Industrial and Financial Reconstruction (BIFR) pursuant to the scheme of rehabilitation.<\/p>\n

Subsequent to the passing of the impugned order, SEBI issued a letter advising the appellant to file the correct shareholding pattern with the stock exchange as directed by a BIFR order back in 2014. Based on the fresh shareholding pattern filed by the appellant, BSE withdrew the fines imposed upon the appellant with regard to the non-compliance of the MPS requirements.<\/p>\n

Based on the facts, the Tribunal directed the Adjudicating Officer to reconsider the matter afresh. They set aside the older order by the Adjudicating Officer so that he\/she can pass a fresh order after giving an opportunity of hearing to the appellant. The decision as for the amount of penalty already deposited by the appellant would be decided by fresh orders passed by the Adjudicating Officer.[Smiths & Founders India Ltd. v. Securities & Exchange Board of India, 2019 SCC OnLine SAT 133<\/b><\/a>, decided on 07-08-2019]<\/p>\n","protected":false},"excerpt":{"rendered":"

Securities Appellate Tribunal (SAT), Mumbai:\u00a0Coram of Justice Tarun Agarwala, (Presiding Officer), Dr C.K.G. Nair (Member), and Justice M.T. Joshi, (Judicial Member) directed <\/p>\n","protected":false},"author":8808,"featured_media":209781,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,11],"tags":[37032,34246,2627,37031],"class_list":["post-217946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies","tag-fresh-adjudication","tag-opportunity-of-hearing","tag-Penalty","tag-violation-of-scra"],"yoast_head":"\nSAT | Penalty imposed on appellants for\u00a0violation of SCRA waived off by BSE; matter remanded for fresh adjudication | 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\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SAT | Penalty imposed on appellants for\u00a0violation of SCRA waived off by BSE; matter remanded for fresh adjudication\" \/>\n<meta property=\"og:description\" content=\"Securities Appellate Tribunal (SAT), Mumbai:\u00a0Coram of Justice Tarun Agarwala, (Presiding Officer), Dr C.K.G. Nair (Member), and Justice M.T. Joshi, (Judicial Member) directed\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/\" \/>\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=\"2019-08-12T09:00:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-08-23T06:53:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.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=\"Bhumika Indulia\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bhumika Indulia\" \/>\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\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/\",\"name\":\"SAT | Penalty imposed on appellants for\u00a0violation of SCRA waived off by BSE; matter remanded for fresh adjudication | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg\",\"datePublished\":\"2019-08-12T09:00:59+00:00\",\"dateModified\":\"2019-08-23T06:53:31+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg\",\"width\":1330,\"height\":887},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"SAT | Penalty imposed on appellants for\u00a0violation of SCRA waived off by BSE; matter remanded for fresh adjudication\"}]},{\"@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\/919ec47cc1b871b362af05740398033a\",\"name\":\"Bhumika Indulia\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg\",\"caption\":\"Bhumika Indulia\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/editor_1\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"SAT | Penalty imposed on appellants for\u00a0violation of SCRA waived off by BSE; matter remanded for fresh adjudication | 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\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/","og_locale":"en_US","og_type":"article","og_title":"SAT | Penalty imposed on appellants for\u00a0violation of SCRA waived off by BSE; matter remanded for fresh adjudication","og_description":"Securities Appellate Tribunal (SAT), Mumbai:\u00a0Coram of Justice Tarun Agarwala, (Presiding Officer), Dr C.K.G. Nair (Member), and Justice M.T. Joshi, (Judicial Member) directed","og_url":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2019-08-12T09:00:59+00:00","article_modified_time":"2019-08-23T06:53:31+00:00","og_image":[{"width":1330,"height":887,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg","type":"image\/jpeg"}],"author":"Bhumika Indulia","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Bhumika Indulia","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/","url":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/","name":"SAT | Penalty imposed on appellants for\u00a0violation of SCRA waived off by BSE; matter remanded for fresh adjudication | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg","datePublished":"2019-08-12T09:00:59+00:00","dateModified":"2019-08-23T06:53:31+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a"},"breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg","width":1330,"height":887},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/sat-penalty-imposed-on-appellants-for-violation-of-scra-waived-off-by-bse-matter-remanded-for-fresh-adjudication\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"SAT | Penalty imposed on appellants for\u00a0violation of SCRA waived off by BSE; matter remanded for fresh adjudication"}]},{"@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\/919ec47cc1b871b362af05740398033a","name":"Bhumika Indulia","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg","caption":"Bhumika Indulia"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/editor_1\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/SAT-MUMBAI.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":217895,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/09\/sat-additional-affidavit-filed-after-disposal-of-appeal-cannot-form-part-of-the-memo-of-appeal\/","url_meta":{"origin":217946,"position":0},"title":"SAT | Additional affidavit filed after disposal of appeal cannot form part of the memo of appeal","author":"Bhumika Indulia","date":"August 9, 2019","format":false,"excerpt":"Securities Appellate Tribunal (SAT): Justice Tarun Agarwala (Presiding Officer) and Dr C.K.G. Nair (Member) dismissed an appeal by the appellant as it was devoid of any merit The appellant, a private company, was a minority shareholder in New Delhi Television Ltd. (NDTV). With regard to non-disclosure of a tax demand\u2026","rel":"","context":"In "Case Briefs"","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":245918,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/03\/22\/stock-exchange\/","url_meta":{"origin":217946,"position":1},"title":"SAT | Separate penalties by the stock exchanges can be imposed | While positing, rejects appeal","author":"Editor","date":"March 22, 2021","format":false,"excerpt":"Securities Appellate Tribunal (SAT): A Coram of Tarun Agarwala, J., (Presiding Officer) and M.T. Joshi, J., (Judicial Member) while dismissing an appeal held that separate penalties by the stock exchanges could be imposed. In the present matter, BSE and NSE separately imposed a penalty of Rs 12 lakh for violation\u2026","rel":"","context":"In "Case Briefs"","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":218631,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/26\/sat-appellant-fined-for-executing-fake-trades-and-creating-artificial-volume-through-illiquid-stock-options-to-the-tune-of-54-68-of-the-total-market-volume-in-bse\/","url_meta":{"origin":217946,"position":2},"title":"SAT | Appellant fined for executing fake trades and creating artificial volume through illiquid Stock Options to the tune of 54.68% of the total market volume in BSE","author":"Bhumika Indulia","date":"August 26, 2019","format":false,"excerpt":"Securities Appellate Tribunal (SAT):\u00a0A Division Bench of Justice Tarun Agarwala, (Presiding Officer) and Dr C.K.G. Nair (Member), upheld the order passed by the Adjudicating Officer which imposed a penalty on the appellant for violation of SEBI regulations. SEBI, in this case, observed a large scale reversal of trade in Stock\u2026","rel":"","context":"In "Case Briefs"","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":213320,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/04\/05\/sat-no-disproportionate-gain-or-unfair-advantage-made-nor-any-loss-caused-to-the-investors-by-non-disclosure-penalty-reduced\/","url_meta":{"origin":217946,"position":3},"title":"SAT | No disproportionate gain or unfair advantage made, nor any loss caused to the investors by non-disclosure, penalty reduced","author":"Bhumika Indulia","date":"April 5, 2019","format":false,"excerpt":"Securities Appellate Tribunal, Mumbai: The Coram of Tarun Agarwala, J., (Presiding Officer), Dr C.K.G. Nair, (Member), M.T. Joshi, J., (Judicial Member) dismissed the appeals which were filed against the order which imposed a penalty on the appellants for not following Regulation 7(2) (a) of the Securities and Exchange Board of\u2026","rel":"","context":"In "Case Briefs"","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":218502,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/22\/sat-fine-imposed-on-appellant-for-non-compliance-of-regulation-33-of-sebi-reduced-on-account-of-this-mistake-being-a-technical-defect\/","url_meta":{"origin":217946,"position":4},"title":"SAT | Fine imposed on appellant for non-compliance of Regulation 33 of SEBI reduced on account of this mistake being a technical defect","author":"Bhumika Indulia","date":"August 22, 2019","format":false,"excerpt":"Securities Appellate Tribunal (SAT): Coram of Justice Tarun Agarwala (Presiding Officer), Dr C.K.G. Nair (Member), and Justice M.T. Joshi (Judicial Member) held the appellants responsible for non-compliance of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015. The imposed a fine of Rs 5,54,600 on the appellants for\u2026","rel":"","context":"In "Case Briefs"","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":224431,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/01\/22\/sat-company-floating-cis-without-registering-with-sebi-held-liable-under-s-15-ha-of-sebi-act\/","url_meta":{"origin":217946,"position":5},"title":"SAT | Company floating CIS without registering with SEBI held liable under S. 15-HA of SEBI Act","author":"Bhumika Indulia","date":"January 22, 2020","format":false,"excerpt":"Securities Appellate Tribunal (SAT): A Two-Member Bench of Justice Tarun Agarwala (Presiding Officer) and Justice M.T. Joshi (Judicial Member) was hearing two appeals pertaining to the orders passed by Adjudicating Officer (AO) of Securities and Exchange Board of India (SEBI) imposing penalty over appellants. The appeals were filed by Subrata\u2026","rel":"","context":"In "Case Briefs"","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\/217946","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\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=217946"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/217946\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/209781"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=217946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=217946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=217946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}