SBI Capital Markets Ltd.
Penalties and directions recorded
- Rs 1 crore penalty on ESL for Reg 57(1), 57(2)(a)(ii) ICDR per AO order 31.03.2016
- Rs 1 crore jointly and severally on 3 merchant bankers for Reg 57(1), 57(2)(a)(ii), 64(1) ICDR and Reg 13 MB Regs
- Rs 50 lakh each on ECL under Sec 23A(a) and 23E SCRA for Clause 36 violation
SAT-appeal
- Failure to disclose rejection of forest clearance for ECL’s proposed Kodolibad iron-ore mining project in ESL’s IPO prospectus and to stock exchanges, and alleged merchant-bankers’ due-diligence failures.Appeals Nos. 223, 224 and 202 of 2016 challenged the common AO order dated 31 March 2016Appeal: Appeal Nos. 223, 224 and 202 of 2016, decided by common SAT order dated 14 November 2019; outcome not included in supplied text
- Alleged non-disclosure of rejection of Forest Clearance by MoEF/FAC for Kodolibad iron ore mine in ESL IPO prospectus and by ECL to stock exchanges.
- Non-disclosure of rejection of Forest Clearance for Kodolibad iron ore mining by FAC/MoEF in ESL IPO prospectus and by ECL to stock exchanges under Clause 36.Rs 1 crore penalty on ESL for Reg 57(1), 57(2)(a)(ii) ICDR per AO order 31.03.2016 · Rs 1 crore jointly and severally on 3 merchant bankers for Reg 57(1), 57(2)(a)(ii), 64(1) ICDR and Reg 13 MB Regs
Source: SecMarx — SBI Capital Markets 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.