Kamal Nayan Sharma

SAT-appeal

• Misrepresentation of financials, violation of accounting standards and failures to make stipulated LODR disclosures; alleged fraudulent or unfair trade practice under PFUTP Regulation 4(2)(f).
  Appeal Nos. 950, 1010 and 1011 of 2022 partly allowed. · Appeal Nos. 951 and 1009 of 2022 allowed.
  Appeal: Appeal Nos. 950, 951, 1009, 1010 and 1011 of 2022 decided together on 04 January 2023; miscellaneous applications disposed of.
• Misrepresentation of financials, violation of accounting standards and LODR disclosure lapses; alleged fraudulent/unfair trade practice and shell-company allegation.
  Affirmed LODR violation but reduced Indian Infotech penalty to Rs 5 lakhs · Reduced Kamal Nayan Sharma penalty to Rs 5 lakhs
  Appeal: Appeal Nos. 950, 951, 1009, 1010, 1011 of 2022 reserved 14.12.2022 decided 04.01.2023; 950,1010,1011 partly allowed, 951,1009 allowed
• SAT matter SATV-950F7C19CB423D242B0F9397
  Order reserved after joint hearing of five appeals · Parties to act on digitally signed copy signed by Private Secretary on behalf of bench
  Appeal: Appeal Nos. 950, 951, 1009, 1010, 1011 of 2022 heard on 14.12.2022; order reserved
• SAT matter SATV-405453311EC9A00201DB8C8B
  Five appeals were heard together against a common issue and two separate orders. · Order reserved; parties directed to act on the digitally signed copy.
  Appeal: Appeal Nos. 950 of 2022, 951 of 2022, 1009 of 2022, 1010 of 2022 and 1011 of 2022 were heard together on 14 December 2022; order reserved.
• Misrepresentation of financials, accounting-standard violations and delayed or deficient LODR disclosures; alleged fraudulent or unfair trade practice through false or misleading annual-report disclosures.
  Appeal No. 950 of 2022 partly allowed; company penalty reduced to Rs. 5 lakhs. · Appeal No. 1010 of 2022 partly allowed; Kamal Nayan Sharma penalty reduced to Rs. 5 lakhs.
  Appeal: SAT Appeals Nos. 950, 951, 1009, 1010 and 1011 of 2022 decided on 04 January 2023; Appeals 950, 1010 and 1011 partly allowed, Appeals 951 and 1009 allowed.
• SAT matter SATV-60ABBA1DF86BDC95B0C9F06F
  Five appeals were taken up together because they involved a common issue · Order reserved
  Appeal: Appeal Nos. 950, 951, 1009, 1010 and 1011 of 2022; heard together on 14 December 2022 and order reserved; disposal outcome not stated
• SAT matter SATV-6CE759E4D5D67E8D1C35125A
  Five appeals were taken up together because they involved a common issue and two separate orders. · Order reserved.
  Appeal: Appeal Nos. 950, 951, 1009, 1010 and 1011 of 2022 were heard together on 14 December 2022; order reserved.
• Misrepresentation of financials, accounting-standard violations and delayed or deficient LODR disclosures; alleged fraudulent or unfair trade practice under PFUTP Regulation 4(2)(f).
  Violation by Indian Infotech was affirmed but its penalty was reduced to Rs. 5 lakhs. · Penalty on Kamal Nayan Sharma was reduced to Rs. 5 lakhs.
  Appeal: SAT Appeal Nos. 950, 951, 1009, 1010 and 1011 of 2022 decided on 04 January 2023; Appeals 950, 1010 and 1011 partly allowed, Appeals 951 and 1009 allowed.
• Misrepresentation of financials, violation of accounting standards and LODR disclosure lapses; alleged fraudulent/unfair trade practice and shell company allegation.
  Indian Infotech and Software Ltd. penalty reduced to Rs. 5 lakhs · Kamal Nayan Sharma penalty reduced to Rs. 5 lakhs
  Appeal: Appeal Nos. 950, 951, 1009, 1010, 1011 of 2022 reserved 14.12.2022 decided 04.01.2023; 950,1010,1011 partly allowed, 951,1009 allowed