Sydney's most notorious groom, the property developer and former deputy mayor of Auburn council Salim Mehajer, has been banned from managing corporations until November 2018.

The Australian Securities and Investments Commission said it has taken the step to safeguard the public interest. ASIC first disqualified Mehajer last November, but he appealed against the decision. The Administrative Appeals Tribunal has now upheld ASIC's decision.

The Tribunal said Mehajer's conduct in managing two corporations, SMPD P/L and SMEC P/L, "fell far short of what is reasonably expected of a director" and the ban will provide him with "time to properly acquaint himself with the duties of a director of a company and his obligations to those with whom the company may transact."

The two companies operated in the property development and construction industries.

ASIC found Mehajer didn't maintain adequate financial records, and his conduct "lacked commercial morality" because he allowed one company to collect GST of more than $300,000 from the sale of townhouses but failed to declare it to the ATO.

Mehajer first attracted public attention during his lavish August 2015 wedding which saw a street in Lidcombe blocked off for the event, which included four helicopters, a motorcade of sports cars and a seaplane.

Less than a year later, Mehajer's wife Aysha Learmonth has separated from him.

Auburn council was suspended by the NSW Government in February amid misconduct allegations.

See also:

The properties which paid for THAT wedding

Gold Coast council under scrutiny