Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
IL&FS, the debenture trustee, failed to report to SEBI that there were more than 49 investors in the non-convertible debentures issued by Vaishnodevi Dairy Products Ltd., despite receiving communication from Karvy on April 1, 2014, listing 154 investors. This violated Regulation 15(1)(i) of the SEBI (Debenture Trustees) Regulations, 1993. The AT upheld the penalty of Rs. 5 lakhs imposed u/s 15HB of the SEBI Act, 1992, for the first charge but set aside the second charge of suppressing the BENPOS report.
IL&FS, the debenture trustee, failed to report to SEBI that there were more than 49 investors in the non-convertible debentures issued by Vaishnodevi Dairy Products Ltd., despite receiving communication from Karvy on April 1, 2014, listing 154 investors. This violated Regulation 15(1)(i) of the SEBI (Debenture Trustees) Regulations, 1993. The AT upheld the penalty of Rs. 5 lakhs imposed u/s 15HB of the SEBI Act, 1992, for the first charge but set aside the second charge of suppressing the BENPOS report.
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