2025 (3) TMI 1547 - SCH - SEBI

Appeal dismissed; penalties under Companies Act, 1956 affirmed for alleged key managerial personnel roles in two companies

The SC dismissed the appeal, upholding the SAT order of 16.02.2022 that imposed penalties under the Companies Act, 1956 concerning contention that the ... Imposition of a penalty - key managerial personnel (‘KMP’) in two companies under the Companies Act, 1956 - contention raised is that the appellant cannot be a KMP in two companies - Tribunal found the issue already adjudicated in related appeals arising from the same investigation - HELD THAT:- We are not inclined to interfere with the impugned order dated 16.02.2022 passed by the Securities Appellate Tribunal. Appeal is, accordingly, dismissed. On perusal of the record and after hearing counsel, the Supreme Court declined to disturb the Securities Appellate Tribunal's impugned order dated 16.02.2022, stating it was 'not inclined to interfere with the impugned order dated 16.02.2022 passed by the Securities Appellate Tribunal.' The appeal was 'dismissed.' The Court noted consideration of the material placed on record as basis for non-interference. All pending applications were directed to 'stand disposed of.' No further substantive reasoning is set out in the order beyond these determinations.