Amit Shantilal Mehta
Penalties and directions recorded
- Both appeals dismissed upholding AO penalties of Rs 20 lakh on Shailesh Ved and Rs 10 lakh on Amit Mehta
- Each appellant to pay costs of Rs 1 lakh to SEBI within four weeks from 11.06.2018
- AO penalties of Rs 20 lakh and Rs 10 lakh upheld as not excessive
- Costs of Rs 1 lakh each to be paid by appellants to SEBI
SAT-appeal
- Failure to furnish information called for and furnishing false information about source of Rs 332.8 lakh funds used for trading in Nandan Exim Ltd, violating Section 11C(2) and 11C(3).Delay of 7 days in Appeal No. 167/2018 and 18 days in Appeal No. 196/2018 condoned · Both appeals dismissed upholding AO penalties of Rs 20 lakh on Shailesh Ved and Rs 10 lakh on Amit MehtaAppeal: Appeal Nos. 167 of 2018 and 196 of 2018 dismissed on 11.06.2018 with costs
- Failure to furnish information called for and furnishing false information about source of Rs 332.8 lakh used for trading in Nandan Exim Ltd in violation of Section 11C(2) and 11C(3).Delay of 7 days and 18 days in filing appeals condoned · Appeal Nos. 167 of 2018 and 196 of 2018 dismissed
Source: SecMarx — Amit Shantilal Mehta. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (charges, outcomes, appeal chain) is cited to us.