Greentouch Projects Ltd.

SAT-appeal

• SEBI directed the appellants to refund amounts collected from investors through issuance of Non-Convertible Debentures.
  Appeal disposed of with directions for the appellants to make a detailed representation to SEBI on refunds made and the proposed refund of the balance. · Appellants directed to disclose their assets to SEBI and undertake not to sell them without SEBI's prior approval.
  Appeal: Appeal No. 496 of 2015 disposed of by SAT on 6 October 2017; directions amended by Tribunal order dated 13 October 2017
• Illegal deemed public issue of Non-Convertible Debentures in contravention of Companies Act public-issue norms and ILDS Regulations, collecting ~Rs 56 crore from thousands of investors.
  Appeal No. 577 of 2019 dismissed with no order as to costs · Recovery and bank account attachment proceedings for NCD refund upheld
  Appeal: Appeal No. 577 of 2019 dismissed on 25.11.2019