Anil Kothari
Penalties and directions recorded
- AO order dated 28 February 2020 imposing Rs. 22 lakh penalty quashed.
- WTM order dated 22 December 2020 enhancing penalty to Rs. 34 lakh quashed.
- Appeal No. 747 of 2022 dismissed; AO order dated May 26, 2022 imposing Rs 10 lakh penalty upheld with no error of law
SAT-appeal
- Alleged LODR violations concerning loans from independent directors, verification of sundry debtors/receivables, classification of sundry creditors as trade payables, proof of other transactions, and failure to file employee affidavits/details.Appeal allowed. · AO order dated 28 February 2020 imposing Rs. 22 lakh penalty quashed.Appeal: Appeal No. 133 of 2021 decided on 24 March 2022; appeal allowed and impugned orders quashed, with remand to AO.
- Company's financial condition did not depict correct picture, violating LODR Regulations and PFUTP Regulations.Debarment from accessing securities market under WTM order curtailed to operate only till 11.09.2020 · Appeal disposed of to that extentAppeal: Appeal No. 237 of 2020 disposed of on 11.09.2020; debarment curtailed to that date
- Alleged violation of LODR Reg 16,17,18,19 and PFUTP; loan by Independent Directors to Company alleged to breach independence requirements.Appeal No. 747 of 2022 dismissed; AO order dated May 26, 2022 imposing Rs 10 lakh penalty upheld with no error of lawAppeal: Appeal No. 747 of 2022 with Misc. Application No. 1064 of 2022 dismissed on 04.09.2023
Source: SecMarx — Anil Kothari. 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.