Flare Finance (India) Limited

SAT-appeal

• SAT matter SATV-205F8273784AB6F6A177C4BF
  Parties directed to act on the digitally signed copy of the order · Parties may act on production of the digitally signed copy sent by fax or email
  Appeal: Appeal Nos. 318, 321, 442 and 444 of 2019 were heard; order reserved on 13 December 2021.
• SAT matter SATV-17625FC6DFE5701AA43D8034
  Respondent granted three weeks to file replies in the connected appeals. · Matters listed for 25 February 2021.
  Appeal: Appeal Nos. 318, 321, 442, 443 and 444 of 2019 were pending; respondent granted time to file replies and matters listed for 25 February 2021.
• SAT matter SATV-2C6BA4918CCEF3395CC827EB
  Appellants granted a further three weeks to file rejoinders. · Matters listed for 30 June 2021.
  Appeal: Appeal Nos. 318, 442, 444 and 321 of 2019 were adjourned; rejoinders permitted and matters listed for 30 June 2021.
• SAT matter SATV-26E2E411C3B35FD8FA313D68
  Three weeks time allowed to respondent SEBI to file reply in connected appeals · List matters on February 25, 2021
  Appeal: Appeal Nos. 318, 442, 443, 444 and 321 of 2019 pending; adjourned for reply to February 25, 2021
• SAT matter SATV-3636984503295B3A74A53341
  Respondent SEBI allowed three weeks to file reply in connected appeals · Matters listed on February 25, 2021
  Appeal: Appeal Nos. 318, 321, 442, 443, 444 of 2019 pending; SEBI reply awaited; next listed on 25.02.2021; no disposal
• SAT matter SATV-6024FD98ACD68DD3BD3D978E
  Respondent SEBI allowed three weeks to file reply in connected appeals · Matters listed on February 25, 2021
  Appeal: Appeal Nos. 318, 442, 443, 444 and 321 of 2019 pending; vide order dated 04.02.2021 adjourned to 25.02.2021 for reply/hearing, not disposed
• SAT matter SATV-6B7C235D75E187FD34D9FDF7
  Allow appellants further three weeks time to file rejoinder as not filed in some appeals · List matters on June 30, 2021
  Appeal: Appeal Nos. 318, 442, 444 and 321 of 2019 pending; adjourned to 30 June 2021 for rejoinder
• SAT matter SATV-90B04DAC7C550C1C54DE6B96
  Matters heard and order reserved after hearing counsel for parties · Parties to act on digitally signed copy sent by fax and/or email
  Appeal: Appeal Nos. 318, 321, 442 and 444 of 2019 heard on 13.12.2021; order reserved, no final disposal yet
• SAT matter SATV-A5C5903F7A7806FC219914F7
  Respondent SEBI allowed three weeks time to file reply in connected appeals · Matters listed on February 25, 2021
  Appeal: Appeal Nos. 318 of 2019, 442 of 2019, 443 of 2019, 444 of 2019 and 321 of 2019 pending; adjourned to February 25, 2021
• SAT matter SATV-EECF931B8A5AE0E64987D56E
  Appellants granted further three weeks to file rejoinder · Matters listed on June 30, 2021
  Appeal: Appeal Nos. 318, 321, 442, 444 of 2019 pending; adjourned to 30 June 2021 for filing rejoinder
• Misleading and fraudulent advertisements concerning buy-back, bonus shares and preferential issue of shares; alleged fraudulent, manipulative and unfair trade practices.
  Appeals challenged the common WTM order dated 28 September 2018 directing disgorgement of Rs. 4,55,91,232 with 10% annual interest from 1 August 2002 until payment. · The earlier WTM order dated 31 July 2014 restrained appellants from accessing and dealing in the securities market and imposed related share-freezing and voting restrictions.
  Appeal: Appeal Nos. 318 of 2019, 321 of 2019, 442 of 2021 and 444 of 2019 were heard together; decision dated 20 December 2021.
• Misleading advertisements by VCL on buy-back, bonus shares and preferential issue allegedly defrauding investors in violation of PFUTP.
  Disgorge unlawful gains totaling Rs. 4,55,91,232 with 10% p.a. interest from 1 Aug 2002 till payment · If not paid within 45 days, restrained from buying, selling or dealing in securities for 5 years
• Alleged misleading and fraudulent advertisements concerning buy-back of shares, bonus shares and preferential allotment, constituting fraudulent and unfair trade practices.
  WTM direction to disgorge unlawful gains totaling Rs. 4,55,91,232 with 10% annual interest was under challenge. · If payment was not made within 45 days, appellants would be restrained from securities-market activity for five years.
  Appeal: Appeals Nos. 318 of 2019, 321 of 2019, 442 of 2021 and 444 of 2019; decision dated 20 December 2021. Outcome on merits is not included in the supplied text.
• SAT matter SATV-44AA0CDF2BCFB8DD345E8BD7
  Appellants allowed further three weeks to file rejoinder · Matters listed on June 30, 2021
  Appeal: Appeal Nos. 318, 442, 444 and 321 of 2019 pending; adjourned to June 30, 2021 for filing rejoinder and hearing
• SAT matter SATV-7BDFDCD2482B8C4AED60F98F
  Order reserved after hearing learned counsel for parties · Parties to act on digitally signed copy sent by fax and/or email
  Appeal: Appeal Nos. 318, 321, 442 and 444 of 2019 heard on 13.12.2021; order reserved, not disposed
• Misleading advertisements by VCL on buy-back, bonus shares and preferential issue amounting to fraudulent and unfair trade practices defrauding investors.
  Disgorge unlawful gains totaling Rs 4,55,91,232 with 10% p.a. interest from 1 Aug 2002 · If not paid within 45 days, restraint from buying, selling or dealing in securities for 5 years
  Appeal: Appeal Nos. 318/2019, 321/2019, 442/2021, 444/2019 against WTM order 28 Sep 2018; reserved 13 Dec 2021, decided 20 Dec 2021