IKF Technologies Limited

SAT-appeal

• Fraudulent and unfair conduct concerning two GDR issuances through arranged bank-financed subscriptions, parking of proceeds and non-disclosure of the account-charge arrangements to Indian stock exchanges.
  Appeal No. 346 of 2020 dismissed · Appeal No. 347 of 2020 dismissed
  Appeal: Appeal Nos. 346, 347 and 348 of 2020 dismissed by SAT on 26 July 2021
• Fraudulent GDR issues falsely disclosed as fully subscribed while proceeds were pledged against subscriber loans and never repatriated to India.
  Appeals No. 346, 347 and 348 of 2020 dismissed · AO penalties confirmed with no order as to costs
  Appeal: Appeal Nos. 346, 347, 348 of 2020 dismissed on 26.07.2021 (reserved on 16.06.2021)
• SAT matter SATV-48C69363B610CD45908C43C9
  Time for SEBI to pass the final order extended by two months from 20 February 2015 · Miscellaneous Application No. 79 of 2015 disposed of with no order as to costs
  Appeal: Miscellaneous Application No. 79 of 2015 in Appeal No. 302 of 2014 disposed of on 20 February 2015; underlying appeal outcome not decided in this order
• Fraudulent GDR issuance showing full subscription while proceeds were pledged via Account Charge to secure subscriber loans, undisclosed to exchanges; funds never repatriated to India.
  Appeals No. 346, 347 and 348 of 2020 dismissed · AO penalties confirmed
  Appeal: Appeal Nos. 346, 347, 348 of 2020 dismissed by SAT decision dated 26.07.2021; no appeal was filed against WTM orders dated 20.04.2015 and 05.09.2017
• SAT matter SATV-A7DD3B1E58F3240BC1438025
  Delay of 901 days condoned; Misc. Application No.143 of 2014 disposed accordingly · Appeal No.302 of 2014 disposed on basis of SEBI undertaking with no interference
  Appeal: Appeal No.302 of 2014 disposed on 14/10/2014 in above terms; Misc. Application No.143 of 2014 for 901 days delay allowed