M/s SICOM Ltd.

2 matters before the Securities Appellate Tribunal

Penalties and directions recorded

AO impugned order dated 19 May 2014 imposed penalty of Rs 5 lakh under Section 15A(b) for violation of Reg 29(1), 29(2) and PIT Reg 13; SAT operative disposal beyond provided excerpt

SAT-appeal

Alleged failure to disclose acquisition of Raj Oil Mills shares on pledge invocation - 23,00,000 shares (6.39%) on 28.09.2011 under SAST 29(1) and further 32,50,000 shares (15.35% total) on 24.02.2012 under SAST 29(2) plus PIT 13 disclosures.
PFI SICOM failed to disclose acquisitions on invocation of pledge in Raj Oil Mills: 23,00,000 shares on 28.09.2011 reaching 6.39% under Reg 29(1) and 32,50,000 shares on 24.02.2012 reaching 15.35% under Reg 29(2), plus PIT Reg 13 disclosures.
AO impugned order dated 19 May 2014 imposed penalty of Rs 5 lakh under Section 15A(b) for violation of Reg 29(1), 29(2) and PIT Reg 13; SAT operative disposal beyond provided excerpt
Appeal: Appeal No. 190 of 2014 and Appeal No. 242 of 2014 by SICOM Ltd. vs SEBI before SAT; Order Reserved On 09.10.2014, Date of Decision 28.10.2014; no further appeal mentioned in excerpt

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Source: SecMarx — M/s SICOM Ltd.. 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.