V P Rajani Reddy
Penalties and directions recorded
- Impugned AO 16 Mar 2020: penalty Rs 74.75 crores under Sec 15H(ii)
- Impugned AO 21 Mar 2021: penalty Rs 1 crore under Sec 15HB for non-compliance
- AO 16 Mar 2020: penalty Rs 74.75 crores under Sec 15H(ii) on 23 entities incl appellants
- AO 21 Mar 2021: penalty Rs 1 crore under Sec 15HB for non-compliance of WTM order
SAT-appeal
- Failure to make mandatory open offer for creeping acquisitions exceeding 5% in FY 2006-07, 2007-08, 2010-11 under Reg 11(1) and non-completion of voluntary open offer announced Oct 2011.Impugned WTM 15 Nov 2019: make consolidated open offer at highest Reg 11(1) price · Impugned AO 16 Mar 2020: penalty Rs 74.75 crores under Sec 15H(ii)Appeal: Appeal Nos. 584/2020, 578/2020 and 921/2022 with Misc. Appl. 149/2021, 191/2023, 192/2023 clubbed; hearing 21.09.2023, decision 17.10.2023
- Failure to make mandatory open offer for creeping acquisitions exceeding 5% in FY 2006-07, 2007-08, 2010-11 and failure to complete voluntary open offer announced Oct 2011.WTM 15 Nov 2019: make consolidated open offer for 2006-07, 2007-08, 2010-11, 2012-13 at highest Reg 11(1) price · AO 16 Mar 2020: penalty Rs 74.75 crores under Sec 15H(ii) on 23 entities incl appellantsAppeal: Appeal Nos 584/2020, 578/2020, 921/2022 heard 21.09.2023, decision 17.10.2023; prior Appeal No 3/2013 allowed 19.06.2013, set aside by Supreme Court 25.04.2014
Source: SecMarx — V P Rajani Reddy. 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.