SEBI Dismisses Case Against Three in Incap Financial Services

SEBI Adjudicating Officer disposes of the case against three individuals for alleged violations in Incap Financial Services, following a remand from the Securities Appellate Tribunal.
The Adjudicating Officer found that the noticees did not trigger the 15% or 5% thresholds under the SAST Regulations, thus no open offer obligations were breached.
The order concludes the proceedings without imposing any penalty, setting aside the earlier penalties of ₹19.7 lakh, ₹14 lakh, and ₹18.5 lakh.