CG Power and Industrial Solutions Limited

SAT-appeal

• The appellant was subject to SEBI proceedings arising from suspected fraud at CG Power; he sought documents to defend against the show-cause notice dated 25 May 2021. The appeal concerned document disclosure and procedural fairness, not a final determination of liability.
  Appeal No. 649 of 2021 dismissed as not maintainable because no appealable SEBI/WTM order had been passed. · If the appellant files an application before the WTM for documents, the WTM must consider and decide it in accordance with law.
  Appeal: Appeal No. 649 of 2021 was dismissed as not maintainable on 24 November 2021.
• Alleged diversion/defalcation of funds of CG Power leading to SEBI restraint from market access and association with intermediaries; forensic audit awaited.
  CG Power impleaded as respondent No.2 in both appeals · No interim relief at this stage; appellants may apply for release of additional funds with cogent reasons
  Appeal: Misc. Application No.251/2020 with Appeal Lodging No.220/2020 and Misc. Application No.222/2020 with Appeal Lodging No.227/2020 pending before SAT; no interim relief granted; listed for admission and final disposal on 16.10.2020
• SAT matter SATV-69AE3FDB94261CDBDCD12ED3
  CG Power impleaded as respondent No. 2 in both appeals. · No interim relief granted at this stage.
  Appeal: Appeal Lodging No. 220 of 2020 (Gautam Thapar & Ors. v. SEBI) connected with Appeal Lodging No. 227 of 2020 (B. Hariharan v. SEBI); order dated 14 August 2020; not finally disposed.