Friday, December 13, 2019

Recovery certificate can't be issued to legal representative of deceased for insider trading violations

COMPANY LAW/SEBI ACT : Where appellant's husband had violated provisions of regulation 29 of SAST regulations as well as regulation 13 of PIT regulations and thus, SEBI imposed penalty of Rs. 12 lakhs on appellant's husband but before issuance of recovery certificate appellant's husband died, Recovery Officer was not justified in issuing recovery certificate to appellant for payment of penalty amount

from www.taxmann.com Latest Case Laws https://ift.tt/2PeYYRE
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