Classic Credit Ltd.

2 matters before the Securities Appellate Tribunal

Penalties and directions recorded

AO had imposed maximum penalty of Rs. 5 lakhs for Regulation 7 violation; SAT reasoning finds bald concert allegation insufficient

SAT-appeal

Alleged acting in concert with five Ketan Parekh entities to acquire >5% shares/voting rights of Adani Exports Ltd. without disclosing aggregate holding under Regulation 7 of Takeover Code.
AO had imposed maximum penalty of Rs. 5 lakhs for Regulation 7 violation; SAT reasoning finds bald concert allegation insufficient
SAT matter SATV-B3F725D559EE9FEAB0A2092E
Dismissed as withdrawn
Appeal: Appeal No.150 of 2007 dismissed as withdrawn on 22.10.2007

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Source: SecMarx — Classic Credit Ltd.. 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.