M/s. Riddhi Silk Mills

3 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Uphold all three impugned AO orders on merits, no legal infirmity
Reduce penalty in Appeal No.16 of 2013 to Rs.1,00,000
Reduce penalty in Appeal No.17 of 2013 to Rs.1,00,000
Reduce penalty for five appellants in Appeal No.18 of 2013 to Rs.5,00,000
Direct appellants to pay total Rs.7,00,000 within two months of receipt of order

SAT-appeal

Failure to frame Model Code of Conduct for insider trading before 25.11.2010 and delayed disclosure of June 2010 quarterly results approved 06.07.2010 to BSE; trading by promoters during UPSI period.
Uphold all three impugned AO orders on merits, no legal infirmity · Reduce penalty in Appeal No.16 of 2013 to Rs.1,00,000
Appeal: Appeal Nos.16, 17 and 18 of 2013 disposed on 20.3.2013 - dismissed with reduction of penalty only
Failure to frame PIT Model Code of Conduct before 25.11.2010 and delayed disclosure of June 2010 quarterly results approved 06.07.2010 to BSE, plus trading in UPSI period.
Upheld three AO impugned orders on merits, no legal infirmity · Reduced Appeal 16 penalty to Rs 1,00,000
Appeal: Appeal Nos.16,17,18 of 2013 decided on 20.3.2013; dismissed with reduction of penalty only
Failure to frame Model Code of Conduct for insider trading before 25.11.2010 and delayed disclosure of June 2010 quarterly results; trading by promoters/firm during UPSI period.
Uphold all three AO orders dated 01.11.2012; no legal infirmity · Reduce Appeal 16 penalty to Rs 1,00,000
Appeal: Appeal Nos. 16, 17 and 18 of 2013 heard together and dismissed on 20.3.2013 with reduction of penalty only

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Source: SecMarx — M/s. Riddhi Silk Mills. 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.