M/s. Anarcon Resources Pvt. Ltd.
Penalties and directions recorded
- Quashed Rs.30 lakh penalty on Appellants 1-6 for Regulation 7(1A) SAST violation
- Upheld Rs.5 lakh penalty on Appellant No.6 for Regulation 13(3) PIT violation
- Directed Appellant No.6 to pay Rs.5 lakh within 6 weeks from 16.11.2016
- On default SEBI to recover Rs.5 lakh with 10% interest from 05.05.2015 till payment
- Impugned AO order dated 30 May 2014 quashed and set aside insofar as penalty imposed on appellants
SAT-appeal
- Failure to disclose under SAST Reg 7(1A) and failure by >5% holder to disclose >2% shareholding change on pledge invocation under PIT Reg 13(3)Quashed Rs.30 lakh penalty on Appellants 1-6 for Regulation 7(1A) SAST violation · Upheld Rs.5 lakh penalty on Appellant No.6 for Regulation 13(3) PIT violationAppeal: Appeal No.337 of 2015 disposed on 16.11.2016 - partly allowed (Rs.30 lakh set aside, Rs.5 lakh upheld)
- Failure to disclose sales of target company shares during 2009-10 exceeding 2% limit under Regulation 7(1A) read with 7(2) of SAST 1997.Impugned AO order dated 30 May 2014 quashed and set aside insofar as penalty imposed on appellants · Appeal No. 249 of 2014 allowed with no order as to costsAppeal: Appeal No. 249 of 2014 decided on 01.07.2016 - allowed; SEBI appeal against Ravi Mohan (Appeal No.97 of 2014) pending before Supreme Court
Source: SecMarx — M/s. Anarcon Resources Pvt. 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.