sebi:QJA/BS/IVD/ID19/32422/2026-27
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Facts / Headnote
SCN dated August 18, 2020 disposed of with no directions or monetary penalty against the Noticee
Provisions invoked
- s. 11
- s. 12A
- s. 15H
- s. 27
- s. 15
- s. 15A
- s. 21
- s. 203
Regulations
- Reg. 4
- Reg. 3(b)
- Reg. 38
- Reg. 30
- Reg. 4(2)(f)
- Reg. 33
- Reg. 48
- Reg. 17(8)
- Reg. 33(2)(a)
- Reg. 33(2)
Holding
The SCN dated August 18, 2020 against the Noticee, alleged CFO of K-Lifestyle & Industries Limited, was disposed of with no directions or monetary penalty as the charge under Regulation 33(2)(a) of the LODR Regulations was held unsustainable.
Full text
Order in the matter of K-Lifestyle & Industries Limited. Page 2 of 22 misrepresentation of financials and/or business of KLIL and misuse of the funds/books of accounts of KLIL.
Order in the matter of K-Lifestyle & Industries Limited. Page 3 of 22 “… 4. ... Hence, the impugned order passed in violation of principles of natural justice and not sustainable in law. Accordingly, the same is set aside qua the appellant. Matter is remitted to the SEBI with a direction to hear the appellant and pass appropriate order in accordance with law. The appellant shall appear before the SEBI for hearing without any notice from the SEBI on or before August 1, 2025…”
Order in the matter of K-Lifestyle & Industries Limited. Page 4 of 22 (ii) The Noticee stated that the Investigation Report relies heavily on the FAR and has been prepared based on findings recorded in the FAR.
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Source: SecMarx — sebi:QJA/BS/IVD/ID19/32422/2026-27. 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.