0747-2022 MPF Systems Ltd and Others vs SEBI
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18 and 19 of the LODR Regulations by the AO. On the other hand, the WTM while exercising the powers under Section 11 and 11B in its order dated April 20, 2020 has found that such loan given by the Independent Directors to the Company does not violate the provision of Regulation 16, 17, 18 and 19 of LODR Regulations in view Regulation 15(2) of the LODR Regulations. Thus, on this short ground, the imposition of penalty by the AO cannot be sustained and consequently the enhancement made by the WTM in its order of December 22, 2020 also cannot be sustained and are quashed. The appeal is
BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Date of Decision : 04.09.2023
Misc. Application No. 1064 of 2022 And Appeal No. 747 of 2022 1. MPF Systems Ltd. 108, Prime Plaza, J. V. Patel Compound, B. M. Road, Elphinstone (West), Mumbai – 400 013. 2. Ms. Kirti Salvi C/203, Riviera Housing Society,
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Source: SecMarx — 0747-2022 MPF Systems Ltd and Others vs SEBI. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.