Dr. Koteshwara Rao

SAT-appeal

• Alleged diversion of funds collected by Transgene Biotek Ltd. through issuance of GDRs to various entities, including entities based abroad.
  SEBI granted a final four-month extension to complete investigation and issue show-cause notices. · SEBI directed to complete the process and issue show-cause notices, if any, by 30 April 2018.
  Appeal: Appeals Nos. 164 to 169 of 2016 were previously disposed of by SAT order dated 17 August 2017; these applications sought extension of time in those matters.
• Funds collected by issuing GDRs allegedly diverted to various entities including entities based abroad.
  SEBI to complete investigation and issue show cause notices, if any, by April 30, 2018 · Failing SCN by April 30, 2018, ad interim/confirmatory orders stand vacated from May 1, 2018 against all appellants
  Appeal: Appeal Nos. 164-169 of 2016 disposed vide SAT order dated August 17, 2017 directing SCN by December 31, 2017; Misc. Applications No. 322-327 of 2017 disposed on January 18, 2018
• SAT matter SATV-8BA000B4EC0110C5AD5BA765
  Appeal allowed to be withdrawn with no order as to costs
  Appeal: Appeal No. 215 of 2015 withdrawn on 20.04.2015
• Funds collected by issuing GDRs allegedly diverted to various entities, including entities based abroad, as recorded in SEBI interim/confirmatory orders.
  SEBI to complete investigation and issue show cause notice, if any, to appellants by April 30, 2018
  Appeal: Appeal Nos. 164-169 of 2016 disposed on August 17, 2017 directing SCN by December 31, 2017; Misc. Application Nos. 322-327 of 2017 disposed on 18.01.2018 granting extension
• Alleged diversion of funds collected by issuing GDRs to various domestic and foreign entities.
  SEBI to complete investigation and issue show cause notices, if any, by April 30, 2018 as final chance · Failure to issue SCN by April 30, 2018 - ad interim/confirmatory orders stand vacated from May 1, 2018
  Appeal: Appeal Nos. 164-169 of 2016 disposed vide SAT order dated August 17, 2017; Misc. Applications Nos. 322-327 of 2017 filed by SEBI disposed by SAT order dated 18.01.2018
• Alleged diversion of funds collected by issuing GDRs to various domestic and foreign entities.
  SEBI granted final 4-month extension to complete investigation and issue SCN by 30.04.2018 · If SCN not issued by 30.04.2018, interim/confirmatory orders stand vacated from 01.05.2018
  Appeal: Misc. Applications 322-327 of 2017 in Appeals 164-169 of 2016 disposed on 18.01.2018; Appeals earlier disposed on 17.08.2017
• Restraint for alleged securities market violation; appellants claim they are victims of fraud with company funds illegally diverted by Nirmal Kotecha
  Appeals disposed without going into merits with directions to SEBI · SEBI to complete investigation by December 2017 and if deemed fit issue show-cause notice by 31 December 2017
  Appeal: Appeal Nos. 164-169 of 2016 disposed on 17/08/2017 without going into merits with directions; no order as to costs
• Restraint matter with charge not detailed in order; linked to alleged fraud and illegal diversion of company funds by Nirmal Kotecha
  Appeals disposed without going into merits with time-bound investigation direction · SEBI to complete investigation and if deemed fit issue show-cause notice by 31st December 2017
  Appeal: Appeal Nos. 164, 165, 166, 167, 168 and 169 of 2016 disposed of on 17/08/2017 with no order as to costs
• Alleged diversion of funds collected by issuing GDRs to various entities including entities based abroad
  SEBI to complete investigation and issue show cause notices, if any, by April 30, 2018 · On default, ad interim order dated Nov 20, 2014 and confirmatory order dated Mar 19, 2016 to stand vacated from May 1, 2018
  Appeal: Appeal Nos. 164-169 of 2016 disposed by SAT order dated August 17, 2017; Misc. Applications Nos. 322-327 of 2017 disposed by SAT order dated January 18, 2018
• Unspecified violation leading to market restraint; appellants claim company funds illegally diverted by Nirmal Kotecha
  All six appeals disposed without going into merits, restraint continued subject to timelines · SEBI to complete investigation by December 2017 and if deemed fit issue SCN by 31 Dec 2017
  Appeal: Appeal Nos. 164-169 of 2016 disposed on 17/08/2017 with directions, no order as to costs
• Suspected violation leading to market restraint; appellants allege company funds illegally diverted by Nirmal Kotecha, merits not decided.
  Appeals disposed without going into merits with time-bound investigation · SEBI to complete investigation by December 2017 and if deemed fit issue show-cause notice by 31 December 2017
  Appeal: Appeal Nos. 164, 165, 166, 167, 168 and 169 of 2016 disposed on 17/08/2017 in aforesaid terms with no order as to costs.
• Restraint for alleged irregularities involving illegal diversion of company amounts by Nirmal Kotecha; appellants claim they are victims of that fraud.
  Appeals disposed without going into merits. · SEBI to complete investigation by December 2017 and if deemed fit issue show-cause notice by 31st December 2017.
  Appeal: Appeal Nos. 164, 165, 166, 167, 168 and 169 of 2016 disposed on 17/08/2017 with time-bound investigation directions
• Alleged diversion of Transgene Biotek funds by Nirmal Kotecha; appellants under interim restraint from securities market pending investigation
  Appeals disposed without going into merits with directions to SEBI · SEBI to complete investigation by December 2017 and if deemed fit issue show-cause notice by 31 December 2017
  Appeal: Appeal Nos. 164-169 of 2016 disposed on 17/08/2017 with no order as to costs with SCN timeline directions