Kotak Mahindra Capital Company Limited
Penalties and directions recorded
- AO had imposed Rs 1 crore penalty jointly and severally for ICDR/Merchant Banker violations, challenged in SAT appeal
- AO imposed Rs 1 crore penalty jointly and severally on six BRLMs - under challenge in SAT Appeal No. 63 of 2015
SAT-appeal
- As BRLMs to CARE IPO, failed to ensure true and adequate material disclosures in RHP on RBI/FEMA conditions including minimum capitalization norms for non-resident investors.AO had imposed Rs 1 crore penalty jointly and severally for ICDR/Merchant Banker violations, challenged in SAT appealAppeal: Appeal No. 63 of 2015 against AO order dated 28.11.2014; reserved on 31.08.2016, decided on 30.09.2016
- BRLMs to CARE IPO allegedly failed to ensure true and adequate material disclosures in DRHP/RHP on RBI/FEMA FDI conditions including minimum capitalization and NOC requirements.AO imposed Rs 1 crore penalty jointly and severally on six BRLMs - under challenge in SAT Appeal No. 63 of 2015Appeal: Appeal No. 63 of 2015 against AO order dated 28.11.2014; reserved on 31.08.2016, decided on 30.09.2016
Source: SecMarx — Kotak Mahindra Capital Company 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.