A tale of two competing delays

A recent ruling by the Securities Appellate Tribunal (SAT) up­holding an order passed by the capital market regulator holding that a listed bank delayed requisite disclosures, but converting the penalty of Rs 10 lakh into a warning due to delay in enforcement, stands out for the cogent clarity on some core issues. Essentially, the tribunal dismissed arguments about how a binding agreement between the promoters of a bank with another bank, whereby the business undertaking would be merged, was not required to be disclosed. However, the proceedings having been initiated nearly a decad.....

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel
Key stories on business-standard.com are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.