Bakil Singh

SAT-appeal

• Failure to comply with WTM refund directions dated 4 Sep 2015 and 7 Sep 2015 for debentures issued in violation of Companies Act; AO imposed Rs.50 lakh penalty under Sec 15HB.
  AO order dated 31 Aug 2023 quashed · Appeal allowed with order as to costs
  Appeal: Appeal No.913 of 2023 allowed on 4.12.2023; Misc. Application No.1323 of 2023 disposed of
• Market restraint against Sunshine Infrabuild, directors and debenture trustee per 1 April 2015 WTM ex-parte order; underlying charges not detailed in SAT order.
  Appeal No.331 of 2015 allowed to be withdrawn · SEBI to hear appellant on impugned show-cause notice and pass appropriate order qua appellant
  Appeal: Appeal No.331 of 2015 decided on 7/8/2015 - withdrawn on SEBI assurance, no order as to costs
• Alleged illegal issuance of debentures totalling Rs.4,74,87,300 by Sunshine Infrabuild Corporation Ltd during appellants tenure as directors
  Appeal Nos.486-488 of 2015 disposed in terms of consent minutes marked X with no order as to costs · SEBI to have M/s N.D.Kapur & Co verify peer CA reports and compute total interest payable to holders
  Appeal: Appeal Nos.486, 487, 488 of 2015 disposed on 27/07/2017 in terms of consent minutes dated 26 July 2017 with no order as to costs
• Alleged illegal mobilisation via issuance of debentures amounting to Rs.4,74,87,300 by Sunshine Infrabuild Corporation Ltd during appellants' tenure as directors.
  Appeals 486-488 of 2015 disposed in terms of joint Minutes dated 26 July 2017 marked X, no order as to costs · SEBI to get two peer CA reports verified by M/s N.D.Kapur & Co with computation of interest payable
  Appeal: Appeal Nos. 486, 487 and 488 of 2015 disposed on 27/07/2017 in terms of consent Minutes dated 26/07/2017