SAT reduces penalty as appellant-promoters acquired shares and made public belatedly due to technical issue

COMPANY LAW/SEBI: Where penalty was imposed upon appellant for violation of provisions of regulation 3(2) read with regulation 13(1) of SAST Regulations, 2011, as it acquired shares of two promotores without making any public announcement, in view of fact that appellant had made announcements belatedly after five days, thus it being a technical breach, quantum of penalty was to be reduced

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