Mr. Akash Kumar

SAT-appeal

• Misrepresentation of financial statements, accounting-standard violations, misuse of funds/books of account and other failures to comply with LODR disclosure requirements. PFUTP and Section 12A violations were ultimately not established.
  Appeal No. 988 of 2022 partly allowed; penalty reduced from Rs.20 lakhs to Rs.10 lakhs and debarment modified to the period already undergone · Appeal No. 998 of 2022 partly allowed; penalty reduced to Rs.5 lakhs each
  Appeal: Appeal Nos. 988, 998 and 1017 of 2022 disposed of by SAT on 19 December 2022; miscellaneous applications also disposed of
• Misrepresentation of financial statements, accounting-standard violations, misuse of funds/books of account and delayed or non-compliant LODR disclosures. PFUTP and Section 12A violations were not established.
  Appeal No. 988 of 2022 partly allowed; penalty reduced from Rs.20 lakhs to Rs.10 lakhs and debarment modified to the period already undergone · Appeal No. 998 of 2022 partly allowed; penalty reduced to Rs.5 lakhs each
  Appeal: Appeal Nos. 988, 998 and 1017 of 2022 disposed of by SAT on 19 December 2022; appeals partly allowed or allowed as specified
• Misrepresentation of financials, misuse of funds/books and failure to make timely LODR disclosures over three financial years; initially suspected shell company.
  Appeal 988/2022 partly allowed: Rs 20 lakh penalty cut to Rs 10 lakh; debarment limited to period undergone · Appeal 998/2022 partly allowed: penalty reduced to Rs 5 lakh each