Deccan Chronicle Holdings Ltd.

6 matters before the Securities Appellate Tribunal

Penalties and directions recorded

AO proceedings pursuant to show cause notice dated 05.08.2019 held wholly illegal qua DCHL for violation of Sections 14 and 31 IBC
Penalty on DCHL unsustainable after approved resolution plan which is binding on all creditors including SEBI per Essar Steel and Monnet Ispat
AO order dated March 22, 2022 imposed Rs 4 cr on DCHL and Rs 1.30 cr each on three individuals
Penalty against DCHL unsustainable after approval of resolution plan; fresh slate under Essar Steel
AO proceedings pursuant to SCN dated Aug 5, 2019 held wholly illegal violating IBC Sections 14 and 31

SAT-appeal

SAT matter SATV-7C1009D32FD9475DF4607338
Adjourned on request of respondent counsel · List on January 25, 2023
Appeal: Appeal No. 282 of 2022 adjourned on 16.12.2022; next hearing on January 25, 2023
SAT matter SATV-8AC9216DD1373C87769875C8
List on 9 September 2022 along with Appeal No.283 of 2022
Appeal: Appeal No.282 of 2022 pending; next listing on 9 September 2022
Understatement of loans/interest and inflated profits, non-disclosure of encumbered/invoked shares, and buyback without adequate free reserves in violation of PFUTP, SAST, PIT and listing norms.
AO proceedings pursuant to show cause notice dated 05.08.2019 held wholly illegal qua DCHL for violation of Sections 14 and 31 IBC · Penalty on DCHL unsustainable after approved resolution plan which is binding on all creditors including SEBI per Essar Steel and Monnet Ispat
Appeal: Appeal Nos.282, 395 and 421 of 2022, hearing 23.02.2023, decided 09.11.2023 against AO order
Understatement of loans and interest in FY08-11 accounts, non-disclosure of encumbered/invoked shares, buyback without free reserves misleading investors.
AO order dated March 22, 2022 imposed Rs 4 cr on DCHL and Rs 1.30 cr each on three individuals · SAT held AO proceedings/SCN against DCHL illegal being violative of Sections 14 and 31 IBC
Understatement of loans/interest and inflated profits, non-disclosure of encumbered/invoked shares, buyback without free reserves in violation of PFUTP, SAST, PIT and SCRA.
AO proceedings pursuant to SCN dated Aug 5, 2019 held wholly illegal violating IBC Sections 14 and 31 · Resolution plan binding on all creditors including SEBI; no SCN/adjudication/penalty open after approval
SAT matter SATV-F0203728C7CCC3BD33D18DA2
List Appeal No.282 of 2022 on 21 February 2023 along with Appeal No.395 of 2022
Appeal: Appeal No.282 of 2022 pending; adjourned to 21 February 2023 for joint hearing with Appeal No.395 of 2022

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Source: SecMarx — Deccan Chronicle Holdings 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.