2017 (2) TMI 347 - SCH - Companies Law

Penalty under Section 15A(b) of SEBI Act - acquired and sold shares in excess of the limits - SECURITIES APPELLATE TRIBUNAL MUMBAI(2017 (2) TMI 288 - SECURITIES APPELLATE TRIBUNAL MUMBAI)confirmed penalty - Held that - Issue notice to show cause as to why the appeal should not be admitted. There shall be stay of implementation of the impugned order passed by the Securities Appellate Tribunbal, Mumbai, until further orders.

Summary

The Supreme Court of India issued an order to issue notice to show cause why the appeal should not be admitted. There is a stay on the implementation of the impugned order dated 28.09.2016 by the Securities Appellate Tribunal, Mumbai, until further orders.