Bimal Kumar Jha

SAT-appeal

• SEBI directed WICL and its directors to refund monies collected through issuance of secured non-convertible redeemable debentures, with interest. The appellants denied being directors and challenged the ex-parte proceedings.
  Impugned WTM order dated 24 July 2015 quashed and set aside insofar as it related to Bimal Kumar Jha and Rakesh Kumar · WTM directed to issue show-cause notices if deemed fit and pass appropriate orders after giving the appellants an opportunity of hearing
  Appeal: Appeal Nos. 527 and 528 of 2015 decided by SAT on 23 February 2016; impugned WTM order set aside as against the appellants and matters remitted for due process.
• Weird Infrastructure Corporation Ltd allegedly collected monies from investors through issuance of Secured Non-Convertible Redeemable Debentures in violation of securities law, attracting refund liability.
  Impugned WTM order dated July 24, 2015 quashed and set aside insofar as appellants are concerned · WTM directed to issue fresh show cause notice to appellants if deemed fit and pass appropriate order in accordance with law after hearing
  Appeal: Appeal Nos. 527 of 2015 and 528 of 2015 decided/disposed on 23.02.2016; impugned order quashed qua appellants and remanded for fresh adjudication