Ashish Bagrodia

21 matters before the Securities Appellate Tribunal

Penalties and directions recorded

WTM restrained Winsome from accessing the securities market for three years
Winsome penalized Rs. 4.40 crore
Noticee no. 4 directed to disgorge Rs. 1,11,52,500 jointly and severally with noticees 2 and 3
Noticee no. 2 debarred for two years and penalized Rs. 44 lakh
WTM order dated 15 December 2021 was under appeal; the excerpt records restraints, disgorgement and penalties imposed by SEBI.

SAT-appeal

Alleged fraudulent GDR scheme involving undisclosed pledge and loan agreements, misleading disclosure of subscription, and use of GDR proceeds to finance the sole subscriber, violating Section 12A and PFUTP Regulations.
WTM restrained Winsome from accessing the securities market for three years · Winsome directed to bring back outstanding GDR proceeds of USD 9.018 million
Appeal: Appeal Nos. 348, 251, 342, 343 and 345 of 2022 heard together; decision dated 13 September 2023; merits outcome not included in the provided text
Alleged fraudulent GDR scheme involving undisclosed loan and pledge agreements, misleading disclosure that the issue was fully subscribed by foreign investors, and diversion/adjustment of GDR proceeds.
WTM order dated 15 December 2021 was under appeal; the excerpt records restraints, disgorgement and penalties imposed by SEBI. · Winsome was restrained from accessing the securities market for three years and directed to bring back USD 9.018 million.
Appeal: Appeal Nos. 348 of 2022, 251 of 2022, 342 of 2022, 343 of 2022 and 345 of 2022 were filed before SAT; decision dated 13 September 2023; disposal outcome is not included in the supplied excerpt.
SAT matter SATV-37B3EA5AF9280C8302BA042A
Matter adjourned due to non-availability of the bench · List the matters on 17 January 2023
Appeal: Appeal Nos. 183 of 2022 and 263 of 2022, with Misc. Applications Nos. 432 and 433 of 2022, were adjourned on 2 December 2022 and listed for 17 January 2023.
SAT matter SATV-400F9B278C6A4D24C12CCCF3
Order reserved after hearing parties · Parties to act on digitally signed copy by Private Secretary
Appeal: Appeal No. 183 of 2022 and Appeal No. 263 of 2022 with Misc. Applications 432-433 of 2022 heard on 17.01.2023; order reserved, not disposed
SAT matter SATV-40FD00D2C6A48B6FD2024726
Three weeks further time to appellant to file rejoinder · Listed on November 3, 2022
Appeal: Appeal No. 183 of 2022 and Appeal No. 263 of 2022 pending with Misc. Application Nos. 432 and 433 of 2022; next listed on 3 November 2022
SAT matter SATV-77DD2621B20520A1610807D8
Adjourned due to non-availability of the bench · List on January 17, 2023
Appeal: Appeal Nos. 183 of 2022 and 263 of 2022 with Misc. Applications 432-433 of 2022 pending; adjourned on 02.12.2022
SAT matter SATV-827351F02C39DC7FBCCE53C2
Three weeks time allowed to appellant to file rejoinder · Matter listed on June 24, 2022
Appeal: Appeal No. 183 of 2022 pending before SAT Mumbai; adjourned to 24 June 2022 for rejoinder filing
Fraudulent GDR issue where Vintage FZE sole subscriber via EURAM loan secured by pledge of GDR proceeds, with concealment and false disclosure of six subscribers.
Appeals No.183/2022 and 263/2022 dismissed, WTM and AO orders upheld · Misc Applications No.432 and 433 of 2022 disposed off
Appeal: Appeal No.183 of 2022 and 263 of 2022 dismissed on 23.02.2023 (reserved 17.01.2023)
SAT matter SATV-9B83F22CFC0FCB708FB98068
Order reserved after hearing learned counsel for parties
Appeal: Appeal No. 183 of 2022 with Misc. Applications 432-433 of 2022 and Appeal No. 263 of 2022 heard on 17.01.2023; order reserved
SAT matter SATV-530EC8737E7E64912CD28761
Three weeks further time granted to the appellants to file rejoinder · Matters listed for 02 December 2022
Appeal: Appeal Nos. 183 of 2022 and 263 of 2022, with Misc. Applications Nos. 432 and 433 of 2022; procedural order dated 03 November 2022 granting further time to file rejoinder
SAT matter SATV-BA092627B34EE9C39ECB807F
Three weeks time allowed to appellant to file rejoinder · Matter listed on July 22, 2022
Appeal: Appeal No. 183 of 2022 and Appeal No. 263 of 2022 pending; rejoinder allowed; listed on 22 July 2022
SAT matter SATV-EAAFAFEE465BAC08BAB6836B
Three weeks further time allowed to appellant to file rejoinder · Matter listed on November 3, 2022
Appeal: Appeal Nos. 183 of 2022 and 263 of 2022 pending; rejoinder stage; listed on November 3, 2022
SAT matter SATV-E9A3B1A04B1B7B20FFBB4D10
Dismissed for want of prosecution for non-appearance of appellants · Parties to act on digitally signed copy sent by fax and/or email
Appeal: Appeal No. 594 of 2021 dismissed for want of prosecution on 08.09.2021
SAT matter SATV-F33D2B6E93BA3E7F7086B6B9
Adjourned on request of appellant's counsel · Listed on August 30, 2022
Appeal: Appeal No. 183 of 2022 and Appeal No. 263 of 2022 with Misc. Application No. 432 of 2022 and Misc. Application No. 433 of 2022 pending; adjourned to August 30, 2022
Fraudulent GDR issue by Winsome Yarns Ltd concealing loan/pledge arrangement and falsely showing subscription by six entities when Vintage FZE was sole subscriber via loan secured by company funds
Appeal No.183 of 2022 and Appeal No.263 of 2022 dismissed · WTM 1-year market access and dealing restraint upheld
Appeal: Appeal Nos. 183 and 263 of 2022 dismissed by SAT order dated 23.02.2023 (reserved 17.01.2023)
SAT matter SATV-F3443946A0642CF6A58C7160
Urgency application disposed of as appeal taken up for hearing · Delay in filing appeal condoned; delay condonation application allowed
Appeal: Appeal No. 183 of 2022 by Ashish Bagrodia vs SEBI pending; delay condoned; next listing 30 May 2022
Fraudulent GDR scheme where GDR proceeds were pledged with EURAM Bank to fund sole subscriber Vintage FZE, with non-disclosure of loan/pledge agreements and misleading fully-subscribed announcement.
Winsome restrained from securities market for 3 years and directed to bring back USD 9.018 million GDR proceeds · Penalty of Rs. 4.40 crore on Winsome for PFUTP violation
Appeal: Appeal Nos. 348, 251, 342, 343 and 345 of 2022 against WTM order dated December 15, 2021; Order Reserved on 18.05.2023, Date of Decision 13.09.2023
Fraudulent GDR issue where proceeds were pledged to fund sole subscriber Vintage FZE, with non-disclosure of loan/pledge agreements and misleading fully-subscribed announcement.
Winsome restrained from accessing securities market for 3 years · Winsome directed to bring back outstanding GDR proceeds USD 9.018 million
Appeal: Appeal Nos.348,251,342,343,345 of 2022, Order Reserved 18.05.2023, Date of Decision 13.09.2023
SAT matter SATV-C48C14203F839952CBA26715
Three weeks' time allowed to appellant to file rejoinder · List on 26th September, 2022
Appeal: Appeal No.183 of 2022 and Appeal No.263 of 2022 pending before SAT Mumbai; adjourned to 26 September 2022 for rejoinder
Fraudulent GDR scheme where Winsome pledged GDR proceeds with EURAM Bank to fund sole subscriber Vintage FZE and misled market that issue was fully subscribed by foreign investors.
Winsome restrained from accessing securities market for 3 years · Winsome directed to bring back outstanding GDR proceeds USD 9.018 million
Appeal: Appeal Nos. 348, 251, 342, 343, 345 of 2022 against WTM order dated 15.12.2021; SAT reserved 18.05.2023, decided 13.09.2023
SAT matter SATV-D76664DA470E901136999247
Connect with Appeal No. 183 of 2022 and list on June 24, 2022 · Respondent may file reply in the meanwhile
Appeal: Appeal No. 263 of 2022 with Misc. Application Nos. 432 and 433 of 2022 pending; connected with Appeal No. 183 of 2022, next date June 24, 2022

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Source: SecMarx — Ashish Bagrodia. 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.