Naresh Shivlal Rupani

SAT-appeal

• Ashok and Naresh Rupani allegedly sold shares exceeding 1% of the company's paid-up capital during 4 January 2010–10 January 2011 without making required PIT disclosures. All three directors allegedly failed to disclose a proposed management change to the stock exchange.
  Show cause notice and both AO penalty orders quashed · Appeal Nos. 417 of 2018 and 440 of 2018 allowed
  Appeal: Appeal Nos. 417 of 2018 and 440 of 2018 allowed by SAT on 22 August 2019
• Failure by Ashok and Naresh Rupani to make disclosures under PIT Regulations after selling shares exceeding 1% of paid-up capital; failure by the directors to announce a board proposal for change in management.
  Show cause notice and both AO penalty orders were quashed. · Appeal Nos. 417 of 2018 and 440 of 2018 were allowed.
  Appeal: Appeal Nos. 417 of 2018 and 440 of 2018 decided together and allowed by SAT on 22 August 2019.