G. Sri Vignesh

SAT-appeal

• Failure to obtain prior Audit Committee approval for related party transactions; loss of independent-director independence due to employment of relatives in a subsidiary; and failure to disclose appointment of a forensic auditor as a material event.
  Appeals partly allowed and common AO order dated 14 September 2022 modified. · Company penalty reduced from Rs. 25 lakh to Rs. 10 lakh.
  Appeal: Appeal Nos. 918, 919 and 920 of 2022 decided together on 12 June 2023; appeals partly allowed
• SAT matter SATV-03CD25DE91CE6C68306B4197
  Appellants granted three weeks to file rejoinder · Matters listed for 7 March 2023
  Appeal: Appeal Nos. 918, 919 and 920 of 2022 were pending; adjourned for rejoinder and listed on 7 March 2023
• SAT matter SATV-04A876C7834165103A5B59C1
  Miscellaneous applications to be placed for orders on 14 July 2023
  Appeal: Appeal Nos. 313, 314, 315, 316 and 318 of 2023 were mentioned before SAT on 11 July 2023; no disposal on merits stated.
• SAT matter SATV-0CB3C76CBD08F9D017ED9BEE
  Each appellant directed to deposit 50% of the penalty amount. · If deposited, the balance penalty shall not be recovered during pendency of the appeal.
  Appeal: Appeal Nos. 313, 314, 315, 316 and 318 of 2023 were pending; stay and urgency applications disposed of and appeals listed on the date fixed.
• SAT matter SATV-283AE167C57D377C216343EE
  Miscellaneous Applications Nos. 893 to 897 of 2023 were directed to be placed for orders on 14 July 2023
  Appeal: Appeal Nos. 313, 314, 315, 316 and 318 of 2023 were pending; connected miscellaneous applications were listed for orders on 14 July 2023
• SAT matter SATV-41CA1D6BED1957FB6E638895
  Appeals 313 to 318 of 2023 connected with Appeal No. 189 of 2023 · SEBI to file reply within three weeks
  Appeal: Appeal Nos. 313 to 318 of 2023 listed together on 31 March 2023; connected with Appeal No. 189 of 2023 and listed for 3 May 2023
• SAT matter SATV-3E03665883FC636D032EDB71
  Appellants to deposit 50% of penalty amount · If deposited, balance amount not to be recovered during pendency of appeal
  Appeal: Misc. Applications Nos. 893, 894, 895, 896, 897 of 2023 in Appeals Nos. 316, 314, 313, 315, 318 of 2023; stay/urgency disposed conditionally on 14.07.2023, appeals pending and listed on date fixed
• RPTs without prior audit committee approval; loss of independence as relatives appointed in subsidiary; non-disclosure of forensic audit initiation as material event under Reg 30.
  Appeals partly allowed, AO order dated 14.09.2022 modified · Company penalty Rs 25 lakhs reduced to Rs 10 lakhs
  Appeal: Appeal Nos. 918, 919, 920 of 2022 partly allowed on 12.06.2023 (reserved 07.06.2023), impugned AO order modified to reduce penalties
• RPTs without prior audit committee approval; relatives of independent directors employed in overseas subsidiary impairing independence; non-disclosure of forensic audit initiation as material event under Reg 30.
  Appeals partly allowed; AO order dated 14.09.2022 modified · Company penalty reduced from Rs 25 lakhs to Rs 10 lakhs
  Appeal: Appeal Nos. 918, 919 and 920 of 2022 decided on 12.06.2023 (reserved 07.06.2023); partly allowed with penalty reduction
• SAT matter SATV-94C518FAE5E857D6015DC6EC
  Appellants to deposit 50% of penalty amount within three weeks from 14 July 2023 · If deposited, balance penalty not to be recovered during pendency of appeal
  Appeal: Misc. Applications 893,894,895,896,897 of 2023 in Appeals 316,314,313,315,318 of 2023; stay/urgency disposed on 14.7.2023 on conditional deposit; main appeals pending
• SAT matter SATV-A148F337A10B18F87A606EC6
  Direct appellants to deposit 50% of penalty amount · Balance penalty not to be recovered during pendency of appeal if deposit made
  Appeal: Misc. Applications Nos.893-897 of 2023 in Appeal Nos.313,314,315,316,318 of 2023: stay/urgency disposed on 14.7.2023, appeals pending
• SAT matter SATV-A4007E22C04D0529138CF86D
  All appeals taken up together as against a common SEBI order · Connect with Appeal No.189 of 2023 and list on 3 May 2023
  Appeal: Appeal Nos. 313, 314, 315, 316, 317, 318 of 2023 pending before SAT, connected with Appeal No.189 of 2023, next date 3 May 2023
• SAT matter SATV-AF69B527C1B873127447659B
  Appellants to deposit 50% of penalty amount within three weeks from today · On such deposit, balance amount not to be recovered during pendency of appeal
  Appeal: Misc. Applications Nos. 893, 894, 895, 896, 897 of 2023 in Appeal Nos. 316, 314, 313, 315, 318 of 2023 - stay and urgency applications disposed on 14.07.2023 with conditional stay; main appeals pending
• SAT matter SATV-B087A855EC558E8B3E9417AC
  Three weeks time allowed to appellants to file rejoinder · Matter listed on March 7, 2023
  Appeal: Appeal Nos. 918, 919 and 920 of 2022 with Misc. Applications 118, 119 and 120 of 2023 pending before SAT; adjourned to March 7, 2023
• SAT matter SATV-49400106041797636A55B580
  Appeals 313 to 318 of 2023 connected with Appeal No. 189 of 2023 · Listed for hearing on 3 May 2023
  Appeal: Appeal Nos. 313, 314, 315, 316, 317 and 318 of 2023; common order dated 31 March 2023 directing connection with Appeal No. 189 of 2023 and listing on 3 May 2023
• SAT matter SATV-D666C546EBCEF5B35C4DA784
  Three weeks' time allowed to appellants to file rejoinder · Matter listed on March 7, 2023
  Appeal: Appeal Nos. 918, 919 and 920 of 2022 with Misc. Application Nos. 118, 119 and 120 of 2023 pending before SAT; at rejoinder stage
• SAT matter SATV-D651BA914D48D71CD6B7EEC7
  Misc. Applications Nos. 893, 894, 895, 896, 897 of 2023 placed for orders on July 14, 2023
  Appeal: Misc. Application Nos. 895, 894, 896, 893, 897 of 2023 in Appeal Nos. 313, 314, 315, 316, 318 of 2023 pending; listed for orders on July 14, 2023
• SAT matter SATV-E86A1F28F32B729D266C4EDD
  All appeals against common order taken up together · Connect with Appeal No. 189 of 2023 and list on 3rd May, 2023
  Appeal: Appeal Nos. 313 to 318 of 2023 pending before SAT; adjourned to 3 May 2023 with Appeal No.189 of 2023
• SAT matter SATV-EB478EA12D902335AC345D0B
  All appeals taken up together as against common order · Connect with Appeal No.189 of 2023 and list on 3 May 2023
  Appeal: Appeal Nos.313-318 of 2023 pending; adjourned to 3 May 2023 for reply/rejoinder along with Appeal No.189 of 2023
• SAT matter SATV-FE0ED2C75F80B5085872075C
  Place Misc. Applications for orders on July 14, 2023
  Appeal: Misc. Application Nos. 895, 894, 896, 893, 897 of 2023 in Appeal Nos. 313, 314, 315, 316, 318 of 2023 mentioned on 11.07.2023 and placed for orders on 14.07.2023
• SAT matter SATV-60F4E8E25E40EE5CA3791C4E
  Each appellant directed to deposit 50% of the penalty amount within three weeks from 14 July 2023. · If deposited, the balance penalty amount shall not be recovered during pendency of the appeals.
  Appeal: Miscellaneous Applications Nos. 893, 894, 895, 896 and 897 of 2023 in Appeal Nos. 316, 314, 313, 315 and 318 of 2023; order dated 14 July 2023; appeals listed on the date fixed, not disposed of.
• SAT matter SATV-54B8D08F1201C984C87277DD
  Appeals 313 to 318 of 2023 connected with Appeal No. 189 of 2023 · SEBI to file reply within three weeks
  Appeal: Appeal Nos. 313 to 318 of 2023; order dated 31 March 2023; connected with Appeal No. 189 of 2023 and listed for 3 May 2023; no disposal on merits stated
• Violation of LODR Regulations attracting penalty under Section 23E SCRA (details not specified in interim order)
  Respondent to file reply within three weeks; rejoinder within three weeks thereafter · Matter listed for admission and final disposal on 20 January 2023
  Appeal: Appeal Nos. 918, 919, 920 of 2022 with Misc. Applications 1300, 1298, 1297 of 2022 pending; interim conditional stay granted on 22.11.2022; next hearing 20 January 2023
• SAT matter SATV-A805361CC545D2293E5F4D41
  Deposit 50% of penalty amount within three weeks from 14 July 2023 · If deposit made, balance penalty not to be recovered during pendency of appeal
  Appeal: Misc. Applications Nos. 893-897 of 2023 in Appeal Nos. 313, 314, 315, 316, 318 of 2023; stay and urgency applications disposed on 14.7.2023, appeals pending and listed for fixed date
• SAT matter SATV-F21ECC6674A536E9BDB02D16
  Place Misc. Applications for orders on July 14, 2023 · Parties to act on digitally signed copy; certified copy available from Registry on payment
  Appeal: Misc. Application Nos. 895, 894, 896, 893, 897 of 2023 in Appeal Nos. 313, 314, 315, 316, 318 of 2023 - not on board, mentioned on 11.07.2023, listed for orders on 14.07.2023