Gennex Laboratories Ltd.

2 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Penalty reduced from Rs 10 lacs to Rs 5 lacs
SEBI debarment of GLL and Vinod Baid from accessing and dealing in securities market for 3 years upheld

SAT-appeal

Non-compliance to IO summons - partial compliance to 26 April 2010 summons and no response to 20 May 2010 summons hampering investigation.
Penalty reduced from Rs 10 lacs to Rs 5 lacs · Appeal partly allowed
Appeal: Appeal No.172 of 2011 decided on 22.11.2011 - partly allowed with penalty reduced
False corporate announcements on Innovesco investment (5,16 July 2007) and Ammana 51% stake purchase (27 Aug 2008) to create artificial volume to enable promoter Vinod Baid to offload 9.6 lac shares via MFMCL at inflated prices.
SEBI debarment of GLL and Vinod Baid from accessing and dealing in securities market for 3 years upheld · SAT declined to interfere with impugned order in any manner
Appeal: Appeal No. 3 of 2014 and Appeal No. 195 of 2013 heard 13.02.2014, decided 25.02.2014; SAT declined to interfere with SEBI order

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Source: SecMarx — Gennex Laboratories 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.