Mr. Bhupendra M. Soni

2 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Penalty under Section 15A(a) reduced to Rs.1 lakh per Noticee Nos.1-11
Penalty of Rs.3 lakh on Noticee No.11 under Section 15A(b) for PIT Reg 13(3) violation sustained
Impugned adjudication penalty order quashed

SAT-appeal

Failure to furnish documents/join investigation on summons/inquiry letters/SCN, and for Noticee 11 failure to disclose fall in JESL holding from 6.62% to 2.94% on sale of 2,50,000 shares; alleged PAC acquisition of 15.23% without disclosure.
Appeal allowed in part · Penalty under Section 15A(a) reduced to Rs.1 lakh per Noticee Nos.1-11
Appeal: Appeal No.112 of 2018 decided 26 Aug 2024 - allowed in part; SC in CA 9440/2019 on 13 Feb 2024 set aside remand of 4 Sep 2019, directed fresh merits decision
Non-disclosure of 10,34,915 share transfer (15.23%) showing appellants as new promoters in Sep 2010 quarter and failure to furnish information pursuant to summons.
Impugned adjudication penalty order quashed · Appeal allowed and matter remitted to Adjudicating Officer for fresh decision
Appeal: Appeal No.112 of 2018 allowed on 4 September 2019; impugned penalty order quashed and remanded for fresh adjudication

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Source: SecMarx — Mr. Bhupendra M. Soni. 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.