MPF Systems Ltd.
Penalties and directions recorded
- AO order dated 28 February 2020 imposing Rs. 22 lakh penalty quashed.
- WTM order dated 22 December 2020 enhancing penalty to Rs. 34 lakh quashed.
- Parties directed to take instructions from the Registrar 48 hours before the listed date regarding video conference or physical hearing.
- Appeal No. 747 of 2022 dismissed; AO order dated May 26, 2022 imposing Rs 10 lakh penalty upheld with no error of law
SAT-appeal
- SAT matter SATV-0773A45A6029B8CFD4A01A73SEBI directed to file its reply within two weeks from 2 November 2022 · Matter listed for 17 November 2022Appeal: Appeal No. 747 of 2022 was pending; order dated 2 November 2022 directed SEBI to file a reply and listed the matter on 17 November 2022.
- SAT matter SATV-195322785D6A8E720E5FF233Matter heard and order reservedAppeal: Appeal No. 133 of 2021 heard on 7 March 2022; order reserved
- Alleged LODR violations concerning loans from independent directors, verification of sundry debtors/receivables, classification of sundry creditors as trade payables, proof of other transactions, and failure to file employee affidavits/details.Appeal allowed. · AO order dated 28 February 2020 imposing Rs. 22 lakh penalty quashed.Appeal: Appeal No. 133 of 2021 decided on 24 March 2022; appeal allowed and impugned orders quashed, with remand to AO.
- SAT matter SATV-2A05BBB38BEB9B9F607A0131Matter adjourned on the respondent's request. · Listed for hearing on 24 January 2022.Appeal: Appeal No. 133 of 2021; order dated 21 December 2021 adjourned the matter and listed it for 24 January 2022.
- SAT matter SATV-3C0F5E4F70765B7A03821E22Pleadings complete. · List the appeal for admission and final disposal on 14 March 2023.Appeal: Appeal No. 747 of 2022; pleadings complete and listed for admission and final disposal on 14 March 2023. Not disposed of in this order.
- Company's financial condition did not depict correct picture, violating LODR Regulations and PFUTP Regulations.Debarment from accessing securities market under WTM order curtailed to operate only till 11.09.2020 · Appeal disposed of to that extentAppeal: Appeal No. 237 of 2020 disposed of on 11.09.2020; debarment curtailed to that date
- Alleged violation of LODR Reg 16,17,18,19 and PFUTP; loan by Independent Directors to Company alleged to breach independence requirements.Appeal No. 747 of 2022 dismissed; AO order dated May 26, 2022 imposing Rs 10 lakh penalty upheld with no error of lawAppeal: Appeal No. 747 of 2022 with Misc. Application No. 1064 of 2022 dismissed on 04.09.2023
Source: SecMarx — MPF Systems 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.