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Pg Electroplast Ltd. - Order Passed By HonBle Securities Appellate Tribunal (SAT)

| Updated on August 03, 2019 Published on August 03, 2019

This is to inform that on August 02, 2019, Honble Securities Appellate Tribunal (SAT) has passed an order in the matter of appeal filed by the company against order passed by Adjudicating Officer of SEBI. Adjudicating officer of SEBI vide said order passed on August 02, 2017, had imposed monetary penalties of Rupees One Crore on the Company and Rupees One Crore on each of four directors namely - Mr. Pramod Gupta, Mr. Anurag Gupta, Mr. Vishal Gupta and Mr. Vikas Gupta for the violation of ICDR Regulations.

However, vide order dated August 02 2019, Honble SAT ruled that this is a fit case where no penalty could be imposed and the question of imposing the maximum penalty in the given facts and circumstance does not arise. Accordingly Honble SAT has allowed the appeal and ordered to set aside penalty imposed on the Company and its directors namely- Mr. Pramod Gupta, Mr. Anurag Gupta, Mr. Vishal Gupta and Mr. Vikas Gupta.

Pdf Link: Pg Electroplast Ltd. - Order Passed By HonBle Securities Appellate Tribunal (SAT)

Source : BSE - www.bseindia.com

Published on August 03, 2019
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