Embassy Finance & Consultants Pvt. Ltd.

SAT-appeal

• Failure to make required disclosures concerning acquisition, transfer and changes in shareholding under Regulations 29 and 30 of the SAST Regulations and Regulation 13 of the PIT Regulations.
  Appeals dismissed, subject to modification of the penalty applicable to Pearl Arcade Trading Private Limited. · Pearl Arcade Trading Private Limited to pay Rs. 1 lakh for violation of PIT Regulation 13(2A).
  Appeal: Appeal Nos. 06, 07, 08, 09, 10 and 11 of 2023 disposed on 9 January 2023; appeals dismissed with modification concerning Pearl Arcade Trading Private Limited.
• Failure to make requisite disclosures on acquisition/change in shareholding to company and stock exchanges under SAST Regs 29 & 30 and PIT Reg 13.
  Appeals dismissed affirming disclosure violations by appellants · Pearl Arcade (noticee 8) not person acting in concert, no joint and several liability
  Appeal: Appeal Nos. 06,07,08,09,10,11 of 2023 dismissed with modification on 09.01.2023; delay condoned via Misc. Application 1472/2022
• Failure to make requisite disclosures of acquisition/change in shareholding and voting rights to target company and stock exchanges under SAST Reg 29, 30 and PIT Reg 13.
  Delay condoned vide Misc. Application No.1472 of 2022 · Violations under SAST Reg 29,30 and PIT Reg 13 upheld; Appeals 06-10 of 2023 dismissed
  Appeal: Appeal Nos. 06 to 11 of 2023 decided on 09.01.2023: dismissed with modification reducing individual liability of Pearl Arcade
• Failure to make requisite disclosures of acquisition/change in shareholding to company and stock exchanges under SAST Regs 29 & 30 and PIT Reg 13.
  Delay condoned, Misc. Application No.1472 of 2022 allowed · Violations under SAST Regs 29 & 30 and PIT Reg 13 upheld
  Appeal: Appeal Nos.06,07,08,09,10,11 of 2023 decided 09.01.2023 - dismissed with modification for Noticee No.8
• Failure to make required disclosures concerning acquisition, transfer and changes in shareholding under the SAST and PIT Regulations. No UPSI allegation was involved.
  Appeals dismissed, subject to modification concerning Pearl Arcade Trading Private Limited · Pearl Arcade Trading Private Limited to pay Rs. 1 lakh for violation of PIT Regulation 13(2A)
  Appeal: Appeal Nos. 06, 07, 08, 09, 10 and 11 of 2023 disposed of on 9 January 2023; appeals dismissed with modification. Delay in filing was condoned.
• Failure to make requisite disclosures of acquisition/change in shareholding and voting rights to company and stock exchange under SAST Reg 29, 30 and PIT Reg 13.
  Delay condoned vide Misc. Application No. 1472 of 2022 · Appeals No. 06-10 of 2023 dismissed, violations under SAST 29,30 and PIT 13 upheld
  Appeal: Appeal Nos. 06, 07, 08, 09, 10 and 11 of 2023 decided on 09.01.2023: dismissed with modification reducing Pearl Arcade penalty