Penalty for violation of takeover code to be imposed on each violator separately

SECURITIES APPELLATE TRIBUNAL, MUMBAI R. Shankar Versus Securities & Exchange Board of India Appeal No. 145 of 2012 December 20, 2012 JUDGMENT P.K. Malhotra, Member & Presiding Officer (Offg.) – This order will dispose of five Appeal nos. 145 to 149 of 2012. We find that a common show cause notice was issued to nine entities and a common order has been passed against all these entities out of which only five are in appeal before us. Counsel for the parties agree that since these appeals arise out of common set of facts, they can be disposed of by a common order a...