M/s. Octant Industries Ltd. (formerly Kushal Software Ltd.)
Penalties and directions recorded
- AO penalty of Rs.40,00,000 for violation of Regulations 4(1) and 4(2)(e) under challenge in appeal
- Appellant to deposit Rs.12,57,500 with SEBI within two months, else recovery with interest as per law
SAT-appeal
- Alleged manipulation of Axon Infotech scrip by appellant with connected entities causing price fall 22 Feb-12 Jul 2006 and price rise 13 Jul-19 Sep 2006AO penalty of Rs.40,00,000 for violation of Regulations 4(1) and 4(2)(e) under challenge in appealAppeal: Appeal No.45 of 2013 against AO order dated 28 September 2012; reserved on 17.12.2013, decided on 15.01.2014
- Acquired 32.02% shares/voting rights of Axon InfoTech Ltd on 5 April 2006 acting in concert with seven others without making public announcement under Regulation 10.Appeal dismissed as bereft of merit · Appellant to deposit Rs.12,57,500 with SEBI within two months, else recovery with interest as per lawAppeal: Appeal No.90 of 2013 dismissed on 15.01.2014 (reserved on 17.12.2013)
Source: SecMarx — M/s. Octant Industries Ltd. (formerly Kushal Software 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.