Mafatlal Industries Limited

2 matters before the Securities Appellate Tribunal

Penalties and directions recorded

AO penalty of Rs 10 lakh on each appellant upheld

SAT-appeal

Failure by promoters holding more than 15% shares to make annual disclosures of their shareholding under Regulations 8(1) and 8(2) of the SAST Regulations, 1997.
Appeal No. 149 of 2014 dismissed · Appeal No. 150 of 2014 dismissed
Appeal: Appeal Nos. 149 and 150 of 2014 dismissed by SAT on 13 June 2014.
Promoters holding >15% failed to make yearly disclosures of holding as on March 31 under Reg 8(1)/8(2) SAST 1997 from 1998 till sale in 2008-09/2010.
Both appeals dismissed with no order as to costs · AO penalty of Rs 10 lakh on each appellant upheld
Appeal: Appeal Nos. 149 and 150 of 2014 dismissed on 13.06.2014 with no order as to costs

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Source: SecMarx — Mafatlal Industries Limited. 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.