Cals Refineries Limited

5 matters before the Securities Appellate Tribunal

Penalties and directions recorded

WTM order 23 Oct 2013: Cals barred from issuing equity or convertible instruments for 10 years
WTM order 31 Dec 2014: appellant directors barred from accessing capital market and dealing in securities for 10 years
WTM order 23/10/2013: Cals barred from issuing equity shares or instruments convertible into equity for 10 years
WTM order 31/12/2014: directors barred from accessing capital market and dealing in securities for 10 years
WTM order 23/10/2013: Cals not to issue equity shares or instruments convertible into equity for 10 years

SAT-appeal

SAT matter SATV-1C413E726A150F446CE47C5C
Miscellaneous Application No. 79 of 2014 withdrawn · Withdrawal allowed with no order as to costs
Appeal: Miscellaneous Application No. 79 of 2014 in Appeal No. 4 of 2014 withdrawn and disposed of on 25 August 2015
Fraudulent funding and subscription of USD 200 mn GDR issue, false announcement of successful subscription and failure to disclose related party transaction.
WTM order 23 Oct 2013: Cals barred from issuing equity or convertible instruments for 10 years · WTM order 31 Dec 2014: appellant directors barred from accessing capital market and dealing in securities for 10 years
Fraudulent arrangement for subscription of Cals USD 200M GDR issue with false announcement of successful subscription and failure to disclose related party transaction
WTM order 23/10/2013: Cals barred from issuing equity shares or instruments convertible into equity for 10 years · WTM order 31/12/2014: directors barred from accessing capital market and dealing in securities for 10 years
Appeal: Appeal Nos. 4 of 2014, 141, 155 and 220 of 2015 heard together and disposed by common SAT decision dated 12/10/2017 (reserved 15/09/2017)
Fraudulent arrangement for subscription of USD 200 million GDR issue of Cals, false announcements of successful subscription and non-disclosure of related party transaction in violation of Companies Act Sec 77(2), SEBI Act and regulations.
WTM order 23/10/2013: Cals not to issue equity shares or instruments convertible into equity for 10 years · WTM order 31/12/2014: Directors prohibited from accessing capital market and dealing in securities for 10 years
Appeal: Appeal No.4 of 2014 with Appeal Nos.141,155,220 of 2015 against WTM orders dated 23/10/2013 and 31/12/2014; reserved on 15/09/2017, decided 12/10/2017 by common order
Fraudulent arrangement for subscription of Cals USD 200 mn GDR issue, false announcement of successful subscription and failure to disclose related-party transaction in violation of Companies Act Sec 77(2), SEBI Act and regulations.
Cals not to issue equity shares or instruments convertible into equity for 10 years per WTM order 23 Oct 2013 · Directors barred from accessing capital market and dealing in securities for 10 years per WTM order 31 Dec 2014

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Source: SecMarx — Cals Refineries Limited. 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.