Indus Weir Industries Limited

2 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Appellant directed to pay the penalty imposed by the Tribunal's order dated 17 January 2019.
Penalty reduced from Rs 1 crore to Rs 50 lakh
Pay Rs 50 lakh to SEBI within 4 weeks from 17.01.2019
On default SEBI may recover Rs 50 lakh with 12% p.a. interest from impugned order date

SAT-appeal

SAT matter SATV-441D428D5AEA6522474015BF
Miscellaneous application for extension of time was disposed of. · Appellant directed to pay the penalty imposed by the Tribunal's order dated 17 January 2019.
Appeal: Miscellaneous Application No. 73 of 2019 in Appeal No. 85 of 2018 disposed of on 20 February 2019; extension granted until 30 April 2019
Deemed public issue by collecting Rs 33.39 cr via Redeemable Preference Shares from 32,454 investors without public issue and listing compliances.
Impugned AO order upheld on merits · Penalty reduced from Rs 1 crore to Rs 50 lakh
Appeal: Appeal No. 85 of 2018 disposed on 17.01.2019 as partly allowed with penalty reduced

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Source: SecMarx — Indus Weir Industries Limited. 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.