Wednesday, September 30, 2020

Penalty was to be reduced as trade beyond threshold was due to communication gap with broker:SAT

COMPANY LAW : Where it was alleged that appellant, Senior Vice President and Company Secretary of company, traded beyond threshold limit of 5000 shares of company without obtaining pre-clearance mandated under Model Code of Conduct for Prevention of Insider Trading while appellant explained communication gap between him and broker resulting in meagre profit, penalty of Rs. 12 lakhs to be reduced to Rs. 2 lakhs

from www.taxmann.com Latest Case Laws https://ift.tt/36kdC2W
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