Camac Commercial Company Ltd.

25 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Effect and operation of the impugned SEBI orders stayed during pendency of the appeals, subject to deposit of 25% of the penalty amount.
Balance penalty not to be recovered during pendency of the appeals upon compliance.
Accounts frozen pursuant to the impugned orders to be lifted forthwith.
Samir Jain and Meera Jain restrained from accepting new directorship or key managerial positions in listed companies during pendency of appeals.
Effect and operation of the impugned orders stayed during pendency of the appeals, subject to deposit of 25% of penalty by cash or bank guarantee.

SAT-appeal

SAT matter SATV-05DE6A9CFAB553034D6514C5
Speaking-to-the-minutes applications were filed and necessary corrections were made to the SAT order dated 26 April 2023. · In paragraph 7, the word 'limited' was corrected to 'listed'.
Appeal: Appeal Nos. 371 to 383 of 2023 were before SAT; this order dated 28 April 2023 records corrections to the order dated 26 April 2023.
Whether the noticees controlled PNB Finance and Industries Ltd. without disclosing themselves as promoters or persons in control, acted in concert, and whether the companies complied with minimum public shareholding requirements.
Effect and operation of the impugned SEBI orders stayed during pendency of the appeals, subject to deposit of 25% of the penalty amount. · Balance penalty not to be recovered during pendency of the appeals upon compliance.
Appeal: Appeal Nos. 371 to 383 of 2023 before SAT; order dated 26 April 2023 granted interim stay and listed matters for final disposal on 3 July 2023
Alleged undisclosed control/promoter status and acting in concert in relation to PNB Finance and Industries Ltd.; alleged non-compliance with minimum public shareholding requirements.
Effect and operation of the impugned orders stayed during pendency of the appeals, subject to deposit of 25% of penalty by cash or bank guarantee. · Balance penalty not to be recovered during pendency upon compliance.
Appeal: Appeal Nos. 371 to 383 of 2023 were admitted for consideration; final disposal listed for 3 July 2023. Interim stay granted on 26 April 2023.
SAT matter SATV-2FB02F6471DE9219BEECF6A0
Matters were not on board and were mentioned before the Tribunal. · List all matters on the date already fixed, 3 July 2023.
Appeal: Appeal Nos. 373 to 383 of 2023 were mentioned; the matters were directed to be listed on 3 July 2023. No disposal on merits.
Alleged undisclosed control of PNB Finance and Industries Ltd. by noticees as promoters/persons in control acting in concert, with Jain family holding 91.51% via other companies and MPS non-compliance.
Effect and operation of impugned WTM and CSE orders stayed during pendency subject to deposit · Appellants to deposit 25% of penalty by cash or Bank guarantee to SEBI satisfaction; balance not to be recovered
Appeal: Appeal Nos. 371,372,373,374,375,376,377,378,379,380,381,382,383 of 2023 pending; interim stay granted 26 April 2023; listed for admission and final disposal on 3 July 2023
Alleged non-compliance with minimum shareholding direction in SEBI impugned order; appellants claim compliance is impossible.
Appellants to submit letter/request to CGM, Corporate Finance Department, SEBI · SEBI to consider request and provide reply/comments within 30 days of submission
Appeal: Appeal Nos. 371, 372, 373, 374, 375, 376, 377, 378, 379, 380, 381, 382, 383 of 2023 pending before SAT; adjourned by consent to 20 January 2025, order dated 07.11.2024
SAT matter SATV-46FFEB85D55FCDED7716B717
By consent, call on April 7, 2025 at 10:30 a.m.
Appeal: Appeal Nos. 371 to 383 of 2023 pending before SAT; adjourned by order dated 20.03.2025 to 07.04.2025, not disposed
Alleged control of PNB Finance and Industries Ltd. by noticees/Jain family without disclosing as promoters/persons in control, acting in concert, and failure to comply with MPS requirement.
Effect and operation of impugned orders stayed during pendency of appeal subject to deposit · Appellants to deposit 25% of penalty by cash or Bank guarantee to SEBI satisfaction
Appeal: Appeal Nos. 371-383 of 2023 pending; SAT stayed impugned orders on 26 April 2023; listed for admission and final disposal on 3 July 2023
SAT matter SATV-9B8FE070E74BC391D7873A96
By consent, call on August 13, 2025
Appeal: Appeal Nos. 371 to 383 of 2023 pending; adjourned by consent to August 13, 2025
SAT matter SATV-9348DC8D3AFF13B2266D6168
Adjourned by consent and listed on August 6, 2024
Appeal: Appeal Nos. 371 to 383 of 2023 pending before SAT; adjourned on 22.07.2024 to 06.08.2024, not disposed
SAT matter SATV-A508C79EA5B8AD11E8944CAB
List all matters on 21 April 2023 due to non-availability of Bench · Parties to act on digitally signed copy of order signed by Private Secretary on behalf of bench
Appeal: Appeal Nos. 371 to 383 of 2023 pending before SAT Mumbai with connected Misc. Applications; adjourned to 21 April 2023, no disposal on merits
SAT matter SATV-CFEB6256122D7055EEFF19CB
Adjourned by consent and listed for hearing on 28, 29 and 30 January 2026 at 2:30 p.m.
Appeal: Appeal Nos. 371 to 383 of 2023 pending before SAT Mumbai; adjourned on 03.12.2025, not disposed
Alleged undisclosed control of PNB Finance and Industries Ltd. by Jain family individuals/entities as promoters/persons in control acting in concert and failure to meet minimum public shareholding.
Stay of effect and operation of impugned WTM and CSE orders during pendency of appeals · Conditional stay subject to appellants depositing 25% of penalty via cash or bank guarantee
Appeal: Appeal Nos.371-383 of 2023 against WTM orders dated 28-29 March 2023 pending; operation stayed conditionally; next hearing 3 July 2023
Alleged undisclosed control and promoter status over PNB Finance and Industries Ltd., acting in concert, and non-compliance with minimum public shareholding requirements.
Effect and operation of the impugned orders stayed during appeal subject to deposit of 25% of penalty · Balance penalty not to be recovered during appeal after compliance
Appeal: Appeal Nos. 371 to 383 of 2023 were pending before SAT; order dated 26 April 2023 directed listing for admission and final disposal on 3 July 2023.
SAT matter SATV-4C6CD5C9A571EE54F2F5B2D7
By consent, the connected appeals were adjourned and listed on 16 April 2025 at 10:30 a.m.
Appeal: Appeal Nos. 371 to 383 of 2023 were pending before SAT; by consent listed on 16 April 2025 at 10:30 a.m.
SAT matter SATV-4E0E9DE75990A53B434993C5
Connected appeals and miscellaneous applications were adjourned by consent to 7 November 2024 and listed high on board.
Appeal: Appeal Nos. 371 to 383 of 2023 were pending before SAT; by order dated 1 October 2024, they were adjourned by consent to 7 November 2024.
Alleged undisclosed control of PNB Finance and Industries Ltd as promoters/persons in control acting in concert and failure to comply with MPS requirement.
SEBI to file reply within four weeks; rejoinder within four weeks thereafter · Effect and operation of impugned orders stayed during pendency subject to 25% penalty deposit
Appeal: Appeal Nos. 371-383 of 2023 against WTM orders dated 28-29 March 2023 and CSE order 31 March 2023 pending; operation stayed on 26 April 2023; next hearing 3 July 2023
Alleged control of PNB Finance and Industries Ltd. without disclosing as promoters/persons in control, acting in concert, and failure to meet minimum public shareholding.
Respondent to file reply within four weeks; rejoinder within four weeks thereafter · Effect and operation of impugned orders stayed during pendency subject to 25% penalty deposit
Appeal: Appeal Nos. 371-383 of 2023 filed; stayed on 26 April 2023 subject to 25% deposit; listed for final disposal on 3 July 2023
Alleged undisclosed control of PNB Finance and Industries Ltd by Jain family as promoters/persons in control acting in concert and failure to meet minimum public shareholding.
Effect and operation of impugned orders stayed during pendency subject to 25% penalty deposit · Upon compliance balance penalty not to be recovered during pendency of appeal
Appeal: Appeal Nos.371-383 of 2023 filed; operation stayed during pendency subject to deposit; listed for admission and final disposal on 3 July 2023
SAT matter SATV-8C0B364F59958485BC1FB0D1
Adjournment granted at appellants' request by consent; matter to be called on 28, 29 and 30 January 2026 at 2:30 p.m.
Appeal: Appeal Nos. 371 to 383 of 2023 pending before SAT; adjourned vide order dated 03.12.2025, not disposed
Alleged undisclosed control of PNB Finance and Industries Ltd. by Jain family noticees as promoters/persons in control acting in concert and failure to comply with MPS requirement.
Stay of effect and operation of impugned orders during pendency subject to 25% penalty deposit · SEBI to keep deposited amount in interest bearing account subject to appeal result
Appeal: Appeal Nos. 371-383 of 2023 with Misc. Applications admitted on 26.04.2023; operation stayed conditionally; pending for final hearing on 03.07.2023
Alleged undisclosed control of PNB Finance and Industries Ltd by Jain family entities as promoters/persons in control acting in concert, holding 91.51% and breaching MPS norms.
Effect and operation of impugned WTM and CSE orders stayed during pendency subject to deposit · Accounts frozen pursuant to impugned orders to be lifted forthwith on compliance
Appeal: Appeal Nos. 371-383 of 2023 filed; SAT order dated 26 April 2023 grants conditional stay and lists appeals for admission and final disposal on 3 July 2023
SAT matter SATV-BA0837A1496D4A7696BC3569
List / adjourned to 21 April 2023 due to non-availability of Bench · Parties to act on digitally signed copy; certified copy available from Registry on payment
Appeal: Appeal Nos. 371-383 of 2023 with Misc. Applications Nos. 511-527, 552-553 of 2023 pending; adjourned to 21 April 2023, no disposal
Alleged control of PNB Finance and Industries Ltd. by Jain family without disclosing as promoters/persons in control, acting in concert, violating MPS norms.
Effect and operation of WTM orders and CSE order stayed during pendency of appeals · Appellants to deposit 25% of penalty by cash or Bank guarantee within four weeks; balance not to be recovered
Appeal: Appeal Nos.371-383 of 2023 against WTM orders 28-29 March 2023 and CSE order 31 March 2023 - pending; operation stayed on 26 April 2023; next date 3 July 2023
Alleged undisclosed control of PNB Finance and Industries Ltd. as promoters/persons in control acting in concert and failure to comply with minimum public shareholding requirement.
Effect and operation of impugned orders stayed during pendency subject to 25% penalty deposit · Balance penalty not to be recovered during pendency upon compliance
Appeal: Appeal Nos.371 to 383 of 2023 filed; SAT order dated 26 April 2023 grants conditional stay, not final disposal; next hearing 3 July 2023

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Source: SecMarx — Camac Commercial Company 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.