Amol Shah v. SEBI
Case brief
What is this about?
Appeal against SEBI penalty order for non-compliance with takeover regulations during share acquisition. Tribunal held exemption applied as seller was not promoter, acquitting appellant of default.
What did the court decide?
Impugned penalty order dated 13.7.2000 set aside.
What the court decided
A compact analysis
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
APPEAL NO 19/2000
In the matter
Amol J Shah Appellant
Vs.
Securities and Exchange Board of India Respondent
Appearance
Mr. V.R. Maniar Advocate I/b M/s Shiralkar & Co
Mr Amol J Shah for Appellant
Mr Ananta Barua Division Chief, SEBI
Ms. Babita Rayudu Legal Officer, SEBI for Respondent
Issues for consideration
2 issues framed by the court
Whether penalty was sustainable when the transaction was between non-promoters rendering sub-regulations inapplicable?
Whether Адjudicating Officer could proceed with penalty inquiry when exemption from reporting might apply?
Parties & counsel
- appellant
Amol J Shah
- respondent
Securities and Exchange Board of India
Coram
C. Achuthan
Case details
As recorded by the court registry
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