Kamal Agrawal

4 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Company penalty reduced to Rs 15 lakh for LODR violation
Penalties on MD, CFO and 4 independent directors set aside
SEBI to refund excess over Rs 15 lakh from Rs 35 lakh deposit
Liberty granted to pay Rs 5,000 court fee per appeal
Company penalty reduced to Rs 15 lakh for LODR violations

SAT-appeal

Appeals under Section 15T seeking appropriate directions on SCORES complaints and related emails against listed companies, exchanges and SEBI
Appeal Nos. 31, 110 and 253 of 2025 dismissed for non-prosecution for non-payment of court fee · Request for two weeks adjournment via registry email rejected
Appeal: Appeal Nos. 31 of 2025, 110 of 2025 and 253 of 2025 dismissed for non-prosecution on March 9, 2026
Suspected shell company; misrepresentation of financials/accounting standards, misuse of funds/books, LODR disclosure lapses and non-cooperation; PFUTP fraud alleged.
Appeals partly allowed; LODR violation finding affirmed · Debarment reduced to period already undergone by appellants
Appellants alleged SEBI/NSE/BSE inaction on SCORES complaints re Trident, Infosys, Bharat Global Developers and sought direction for investigation/criminal action.
Misc. Applications No.1357/2024, 168/2025, 561/2025 seeking fee waiver dismissed · Liberty granted to pay Rs 5,000 court fee per appeal
Suspected shell company; misrepresentation of financials, misuse of funds/books, LODR disclosure lapses and non-cooperation; alleged PFUTP violation.
Appeals partly allowed affirming LODR violations · Debarment reduced to period already undergone
Appeal: Appeal Nos. 308 of 2022 and 402 of 2022 partly allowed on 19.07.2023

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Source: SecMarx — Kamal Agrawal. 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.