Audumber Sandipan Deshmukh
Penalties and directions recorded
- SEBI to release the Rs. 30 crore escrow deposit within two weeks from 3 June 2022; accrued interest remains subject to WTM's order.
- SEBI to release Rs 30 crores escrow deposit to appellants, interest retained by SEBI
- SEBI to release Rs 30 crores ESCROW deposit to appellants; interest retained for WTM order
SAT-appeal
- Allotment and issuance of equity shares allegedly contravened the first proviso to Section 67(3) of the Companies Act, 1956, resulting in unauthorized public fund mobilization and refund directions.SEBI to appoint a chartered accountant to verify the appellants' claimed refunds. · Appellants must provide requisite refund details and documents.Appeal: Appeal Nos. 46 of 2019, 60 of 2019 and 61 of 2019 disposed of on 3 June 2022; directions issued for refund verification and fresh WTM consideration.
- Allotment of equity shares in contravention of first proviso to Section 67(3) Companies Act, 1956 amounting to deemed public issueSEBI to appoint chartered accountant to verify refunds claimed by appellants · WTM to pass fresh order on restraint after CA report modifying/confirming earlier orderAppeal: Appeal Nos. 46, 60 and 61 of 2019 and Misc. Application No. 712 of 2021 disposed of on 03.06.2022 with verification directions
- Allotment of equity shares in contravention of first proviso to Section 67(3) of Companies Act, 1956 constituting deemed public issueSEBI to appoint Chartered Accountant to verify refunds claimed by appellants · Appellants to furnish requisite details and documents to Chartered Accountant
Source: SecMarx — Audumber Sandipan Deshmukh. 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.