Non-disclosure under Takeover Code within specified time attracts penalty even if it didn’t cause lo

SEBI: Violation of regulation 8(3) of SEBI (SAST) being failure to make disclosure within stipulated time period, attracts penalty under section 15A(b) of SEBI Act, 1992 in spite of fact that whether or not such failure occurred for first time or such failure has not caused any loss to investors or gained benefit to company