Dhanlaxmi Lease Finance Ltd.

SAT-appeal

• Aiding and abetting a fraudulent scheme involving misleading corporate announcements, off-market transfer and market sale of promoter shares, false shareholding disclosures, fraudulent preferential allotment and failure to make an open offer.
  Appeals challenging the WTM order dated August 12, 2016 were heard together. · The WTM order imposed restraint from dealing in the securities market, disgorgement of unlawful gains and open-offer directions, as applicable to the entities.
  Appeal: Appeal Nos. 303 and 306 of 2016, 374 to 376 of 2017, 62 and 79 of 2018; decision dated 28 June 2018; order reserved 24 April 2018
• Aiding and abetting fraudulent scheme by Platinum Corporation Ltd and promoters via misleading announcements, off-market transfers and fraudulent preferential allotment.
  Restraint from dealing in securities market directly or indirectly · Disgorgement of unlawful gains made
  Appeal: Seven appeals Nos. 303, 306, 374, 375, 376 of 2016, 62 and 79 of 2018 against WTM order dated 12.08.2016; reserved 24.04.2018, decided 28.06.2018
• Seven allottees allegedly acted in concert to acquire 2,90,00,000 shares via preferential allotment without Regulation 10 public announcement.
  AO imposed Rs 20 lacs penalty jointly and severally for Regulation 10 violation
  Appeal: Appeal Nos. 154, 155 and 156 of 2012 decided by common SAT order dated 08/04/2013
• SAT matter SATV-AE466A51E6165D853CF169E4
  Permitted withdrawal of Appeal Nos. 297-299 of 2016 and Misc. Applications 237-239 of 2016 with liberty to file fresh appeals · Fresh appeals with misc. applications to be filed within six weeks from 14.11.2017 with adjustment of court fees paid
  Appeal: Appeal Nos. 297, 298, 299 of 2016 with Misc. Applications 237, 238, 239 of 2016 withdrawn with liberty and disposed of on 14.11.2017
• 7 preferential allottees allegedly acted in concert to acquire 2,90,00,000 shares of Platinum Corporation Ltd. and failed to make public announcement under Regulation 10.
  AO imposed penalty of Rs 20 lacs jointly and severally on 15 noticees for Regulation 10 violation - challenged in SAT appeals
• Aiding and abetting PCL promoters fraudulent scheme via misleading announcements to inflate price and offloading off-market transferred shares for unlawful gains
  Restraint from dealing in securities market directly or indirectly · Disgorgement of unlawful gains made
  Appeal: Seven appeals Nos 303/2016,306/2016,374/2017,375/2017,376/2017,62/2018,79/2018 vs WTM order 12.08.2016; reserved 24.04.2018 decided 28.06.2018
• 7 allottees allegedly acted in concert to acquire 2,90,00,000 preferential shares of Platinum Corporation Ltd without public announcement under Regulation 10.
  Adjudicating Officer imposed Rs 20 lakh penalty jointly and severally for Regulation 10 violation
• Aiding and abetting fraudulent scheme by Platinum Corporation Ltd and promoters via misleading announcements and off-market transfers to earn unlawful gains at cost of investors.
  Restraint from dealing in securities market directly or indirectly · Disgorgement of unlawful gains made
  Appeal: Seven appeals Nos 303/2016,306/2016,374/2017,375/2017,376/2017,62/2018,79/2018 against WTM order 12.08.2016; reserved 24.04.2018, decided 28.06.2018
• Aiding and abetting fraudulent scheme by Platinum Corporation Ltd. via misleading announcements, off-market transfers and market sale for Rs 12 cr gains, false shareholding disclosures and fraudulent preferential allotment evading open offer.
  Restraint from dealing in securities market directly or indirectly · Disgorgement of unlawful gains made
  Appeal: Appeal Nos.303/2016,306/2016,374/2017,375/2017,376/2017,62/2018,79/2018; reserved 24.04.2018, decided 28.06.2018 challenging WTM order 12.08.2016