Bhushan Power & Steel Ltd.

3 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Matters listed for 13 June 2023
No recovery shall be made against appellant pursuant to impugned order in the meanwhile

SAT-appeal

SAT matter SATV-05C81658663BCDA60A4E51E3
Delay in filing the reply condoned and reply taken on record · Appellants granted three weeks to file rejoinder
Appeal: Appeal Nos. 534, 552, 739 and 125 of 2022 and Appeal No. 290 of 2023 were pending; listed for 13 June 2023
Alleged participation in a fraudulent preferential allotment by acting as a conduit for transfers of funds from Unisys to preferential allottees to purchase Unisys shares.
Impugned AO order dated 13 April 2022, insofar as it related to Bhushan Power & Steel Ltd., quashed. · Appeal allowed.
Appeal: Appeal No. 534 of 2022 decided and allowed by SAT on 28 June 2023; connected Misc. Application No. 899 of 2022 was a stay application.
SAT matter SATV-E76B475462977A233A6D6252
Delay in filing Appeal No. 534 of 2022 condoned; Misc. Application allowed · No recovery shall be made against appellant pursuant to impugned order in the meanwhile
Appeal: Appeal No. 534 of 2022 pending before SAT; delay condoned and interim stay of recovery granted on 29.08.2022; next listing 11.11.2022

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Source: SecMarx — Bhushan Power & Steel Ltd.. 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.