India Asset Growth Fund II
Penalties and directions recorded
- Appeal Nos. 355 and 387 of 2025 allowed in part; AO orders dated 20 June 2025 and 03 July 2025 modified
- AO orders dated 20 June 2025 and 03 July 2025 set aside qua the Funds
- Entire penalty of Rs 24 lakh under Sections 15C and 15EA to be paid by Fund Manager (Appellant No.2)
- Appeal Nos. 356 and 388 of 2025 allowed; AO orders set aside qua employee appellants
SAT-appeal
- SAT matter SATV-1054B22BCCC4DDB78223F00FHearing was heard in part · Further hearing listed for 17 March 2026Appeal: Appeal Nos. 355, 356, 387 and 388 of 2025; hearing on 16 March 2026 was heard in part and adjourned to 17 March 2026
- SAT matter SATV-276277C5429ECE4370E7AEEDHearing was partly heard · Further hearing listed for 17 March 2026Appeal: Appeal Nos. 355, 356, 387 and 388 of 2025 were heard in part on 16 March 2026; further hearing fixed for 17 March 2026.
- Admitted default in winding up Fund per schedule (tenure 2014-2021, wound up 2024) and irregularities found on SEBI inspection of books and records.Appeal Nos. 355 and 387 of 2025 allowed in part; AO orders dated 20 June 2025 and 03 July 2025 modified · AO orders dated 20 June 2025 and 03 July 2025 set aside qua the FundsAppeal: Appeal Nos. 355, 356, 387, 388 of 2025 filed under Section 15T decided on 17 March 2026 - Nos. 355 and 387 allowed in part, Nos. 356 and 388 allowed
- SAT matter SATV-6C9BF7D29C922EDC9A3E13EFAdjourned at request of appellant counsel; Call on 11.03.2026Appeal: Appeal Nos. 355, 356, 387 and 388 of 2025 pending before SAT; heard on 14.01.2026 and adjourned to 11.03.2026
Source: SecMarx — India Asset Growth Fund II. 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.