Dinesh Kumar Jaiswal

20 matters before the Securities Appellate Tribunal

Penalties and directions recorded

AO-imposed penalties left undisturbed.
No interference with AO penalty; discretion held just and fair
WTM order dated 3 April 2019 confirmed - appellants prohibited from accessing capital market directly or indirectly for five years
AO penalty upheld, no interference with discretion, no reduction

SAT-appeal

Concealment and submission of false information concerning GDR subscription and financing arrangements; fraudulent and unfair trade practices involving self-financing of GDR subscriptions and non-disclosure of pledge agreements.
Appeal dismissed · Five-year prohibition on appellants accessing the capital market, directly or indirectly, upheld
Appeal: Appeal No. 439 of 2021 decided and dismissed on 6 October 2021
SAT matter SATV-0461D37C5957EF0FF572192E
Time granted to the applicant · Matter listed on 09 June 2026
Appeal: Review Application No. 24 of 2025 in Appeal No. 642 of 2021; on 29 April 2026, time was sought and the matter was adjourned to 09 June 2026.
Fraudulent arrangement involving GDR issuances, self-subscription through pledge and loan arrangements, diversion or misuse of proceeds, misleading corporate announcements, and non-disclosure of material agreements, allegedly defrauding Indian investors.
Delay of 19 days in filing the appeals condoned. · Miscellaneous applications allowed.
Appeal: Appeal Nos. 640, 641, 642 and 643 of 2021 dismissed on 18 October 2021; Appeal No. 439 of 2021 concerning the WTM order was dismissed on 6 October 2021.
SAT matter SATV-0CCDD4D367572434D56BC8DF
Matter adjourned and listed on 12 November 2025
Appeal: Review Application No. 24 of 2025 in Appeal No. 642 of 2021; adjourned on 6 November 2025 and listed on 12 November 2025
SAT matter SATV-349EB65BCF9BF37FE9FCE4A5
Adjourned - Call on April 29, 2026 on applicant counsel seeking time
Appeal: Review Application No. 24 of 2025 in Appeal No. 642 of 2021 with Misc. Application No. 932 of 2025 - adjourned, next date April 29, 2026
Fraudulent GDR issuance scheme where company via pledge and loan agreements funded its own subscription through Vintage FZE/Arun Panchariya, diverted proceeds and made misleading announcements to defraud Indian investors.
Delay of 19 days in filing Appeals condoned · Appeal Nos. 640-644 of 2021 dismissed at admission stage on merits
Appeal: Appeal Nos. 640-644 of 2021 dismissed on 18.10.2021; prior Appeal No. 439 of 2021 against WTM order dismissed on 06.10.2021
SAT matter SATV-569E8B8AB17F11BE6569D1B8
Adjourned at applicant's request for time; matter to be called on February 16, 2026
Appeal: Review Application No. 24 of 2025 in Appeal No. 642 of 2021 with Misc. Application No. 932 of 2025 pending; adjourned vide order dated 05.02.2026 to 16.02.2026, not disposed
Company financed its own GDR issues via loan and pledge agreements, concealed pledge from Stock Exchange and gave false information to SEBI, in violation of PFUTP Regulations and Listing Agreement.
Appeal No. 439 of 2021 dismissed with no order as to costs · WTM order dated 3 April 2019 confirmed - appellants prohibited from accessing capital market directly or indirectly for five years
Appeal: Appeal No. 439 of 2021 filed against WTM order dated 3 April 2019 dismissed on 06.10.2021; no further appeal mentioned
SAT matter SATV-5E23AA21B4C238B5E3250D4C
Matter adjourned and to be called on April 17, 2026 by consent
Admitted GDR-issue violations leading to AO penalties; challenge confined to quantum as excessive, arbitrary, discriminatory and disproportionate vs similar GDR cases.
Appeal: Appeal Nos.640-644 of 2021 dismissed by SAT on 18.10.2021; Civil Appeal Nos.865-866, 896, 815, 800 of 2022 dismissed as withdrawn by Supreme Court on 25.11.2024; Review Application Nos.22-26 of 2025 filed thereafter
Fraudulent GDR issuance scheme by CAT Technologies with directors/promoters in connivance with Arun Panchariya entities to defraud Indian investors.
Delay of 19 days in filing appeals condoned · Appeals No.640-644 of 2021 dismissed at admission stage on merits
Appeal: Appeal Nos.640-644 of 2021 dismissed on 18.10.2021; prior Appeal No.439 of 2021 dismissed on 06.10.2021
SAT matter SATV-A5C64C495405595653FC76E5
Order reserved after hearing · Respondents permitted to file two-page written submission after serving copy on other side within one week
Appeal: Review Application No. 24 of 2025 in Appeal No. 642 of 2021 with Misc. Application No. 932 of 2025 - heard, order reserved on 29.06.2026
SAT matter SATV-F3A28FCC4F0D1CB3CFE12BC6
Adjournment granted at appellants' request, matter listed on October 7, 2025
Appeal: Review Application No. 24 of 2025 in Appeal No. 642 of 2021 and Misc. Application No. 932 of 2025 pending, adjourned to 07.10.2025
Fraudulent GDR issuance scheme where company via pledge and loan agreements funded its own subscription through Vintage FZE to defraud Indian investors.
Delay of 19 days in filing appeals condoned · Appeal Nos. 640-644 of 2021 dismissed at admission stage on merits
Appeal: Appeal Nos. 640-644 of 2021 with Misc. Applications 833-837 of 2021 dismissed on 18.10.2021
SAT matter SATV-61AF58C8859A70EE9E9B8FFE
Time granted to applicant to file citations · Matter called on February 5, 2026
Appeal: Review Application No. 24 of 2025 in Appeal No. 642 of 2021 with Misc. Application No. 932 of 2025 pending; Supreme Court appeal stated to be withdrawn
SAT matter SATV-5FE49E2DD282E55285E83FBC
Call on November 20, 2025
Appeal: Review Application No. 24 of 2025 in Appeal No. 642 of 2021 along with Misc. Application No. 932 of 2025 - pending, next date 20.11.2025
SAT matter SATV-64741F006BB9033C63380863
Adjourned and listed on September 4, 2025 as prayed by applicant
Appeal: Review Application No. 24 of 2025 in Appeal No. 642 of 2021 with Misc. Application No. 932 of 2025 pending, adjourned to September 4, 2025 vide order dated 20.08.2025
Fraudulent GDR issuance scheme in connivance with Arun Panchariya entities to defraud Indian investors; company funded its own subscription via pledge and loan agreements.
Delay of 19 days condoned, Misc. Applications 833-837 of 2021 allowed · Appeals No.640-644 of 2021 dismissed at admission stage for lack of merit
Appeal: Appeal Nos.640-644 of 2021 against AO order dated 28 April 2021 dismissed on 18.10.2021
SAT matter SATV-D068E7B83B728F772C1636CE
Leave granted to file written submissions in lieu of oral arguments · Matter listed on June 29, 2026 by consent
Appeal: Review Application No. 24 of 2025 in Appeal No. 642 of 2021 with Misc. Application No. 932 of 2025 pending; adjourned to June 29, 2026
SAT matter SATV-F47D63357CD9FE6960B0F417
By consent, matter directed to be called on November 6, 2025
Appeal: Review Application No. 24 of 2025 in Appeal No. 642 of 2021 with Misc. Application No. 932 of 2025 pending; adjourned by consent

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Source: SecMarx — Dinesh Kumar Jaiswal. 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.