JMD Ventures Limited

SAT-appeal

• SAT matter SATV-0A830AD36BFA0D505BC61045
  Appeals stood over to 15 March 2021. · Appellants permitted to file scanned copies of the appeals and related documents before the Registry.
  Appeal: Appeal Nos. 505 of 2019 and 506 of 2019 were pending and stood over to 15 March 2021; no disposal on merits stated.
• SAT matter SATV-0BEC17CBC504815E71B94DF7
  Delay in filing the reply condoned and reply taken on record · All appellants granted three weeks to file rejoinder
  Appeal: Appeal Nos. 122, 123, 124, 230-238, 259-263 and 294-295 of 2023; reply filing delay condoned on 15 May 2023, rejoinders directed, matters listed for 06 July 2023
• SAT matter SATV-1228129463A48359EBC260FC
  Rejoinder to be filed within three weeks from 15 March 2021 · Matter listed for 3 May 2021
  Appeal: Appeal Nos. 505 and 506 of 2019 were pending; rejoinder directed and matters listed for 3 May 2021
• Misrepresentation of financial statements, accounting-standard violations, misuse of funds/books of account, delayed disclosures under LODR Regulations, non-furnishing of information/non-cooperation, and alleged PFUTP violations.
  Debarment periods reduced to the period already undergone · JMD Ventures Limited directed to pay Rs. 15 lakh for LODR violations
  Appeal: Appeal Nos. 404, 553 and 572 of 2022 partly allowed on 17 March 2023
• SAT matter SATV-21C3D9720DC61A5BFD5C645E
  Three weeks' time granted to the appellants to file a rejoinder · Matter listed for 8 June 2021
  Appeal: Appeal Nos. 505 and 506 of 2019 were pending; rejoinder time granted and matters listed for 8 June 2021
• SAT matter SATV-3BB10BEF3F9755ED72D5E93D
  Delay in filing the reply was condoned and the reply was taken on record. · All appellants were granted three weeks to file rejoinders.
  Appeal: Appeal Nos. 122, 123, 124, 230-238, 259-263 and 294-295 of 2023 were pending; replies were taken on record and rejoinders were directed by 06 July 2023.
• Misrepresentation of financials, misuse of funds/books, non-cooperation and LODR disclosure failures; alleged shell company and PFUTP fraud not established.
  Affirmed LODR non-compliance violation by Company · Reduced debarment to period already undergone by appellants
  Appeal: Appeal Nos. 404, 553 and 572 of 2022 partly allowed by SAT decision dated 17.03.2023 (reserved 14.03.2023)
• SAT matter SATV-412B8A82EE49B31156D07019
  Matter stood over to 15 March 2021 · Appellants permitted to file scanned copies of the appeals and related documents before the Registry
  Appeal: Appeal Nos. 505 and 506 of 2019 were stood over to 15 March 2021; no final disposal recorded
• Misrepresentation of financials, misuse of funds/books, LODR disclosure failures and non-cooperation; alleged shell company and PFUTP fraud which WTM held not proved.
  Affirmed LODR non-compliance violation by Company · Debarment reduced to period already undergone by appellants
  Appeal: Appeal Nos. 404, 553 and 572 of 2022 partly allowed by SAT on 17.03.2023 (reserved on 14.03.2023)
• Alleged manipulative and non-genuine trades artificially raising or depressing the price of JMD Telefilms Industries Limited and inducing investors to buy or sell.
  Appeal Nos. 505 and 506 of 2019 by JMD Ventures Limited and its directors allowed. · WTM and AO orders against JMD Ventures Limited and its directors quashed.
  Appeal: Appeal Nos. 505 and 506 of 2019 allowed on 29 October 2021; Appeal Nos. 137 and 138 of 2021 dismissed on 29 October 2021.
• Manipulative and non-genuine trading in JMD Telefilms Industries Limited, including trades allegedly intended to artificially raise or depress the scrip price and induce investors to trade.
  Appeal Nos. 505 and 506 of 2019 by JMD Ventures Limited and its directors allowed. · WTM and AO orders against JMD Ventures Limited and its directors quashed.
  Appeal: Appeal Nos. 505 and 506 of 2019 allowed on 29 October 2021; Appeal Nos. 137 and 138 of 2021 dismissed on 29 October 2021.
• Manipulative non-genuine trades in JMD Telefilms Industries Ltd artificially raising price via positive LTP and depressing price via excess sales, violating PFUTP Regs 3 and 4.
  Appeal Nos. 505 and 506 of 2019 by JMD and directors allowed; WTM and AO orders quashed · Appeal Nos. 137 and 138 of 2021 by Jitendra Kumar Pratihast dismissed; 2-year market restraint and penalty sustained
  Appeal: Appeal Nos. 505, 506 of 2019 allowed; Appeal Nos. 137, 138 of 2021 dismissed vide SAT decision dated 29.10.2021 (reserved 25.10.2021)
• Manipulative non-genuine trades in JMD Telefilms Industries Ltd artificially raising price in Patch-1 via small quantities above LTP and depressing price in Patch-2, violating PFUTP Regulations 3 and 4.
  Appeal Nos. 505 and 506 of 2019 by JMD and directors allowed; WTM and AO orders quashed with no costs · Appeal Nos. 137 and 138 of 2021 by Jitendra Kumar Pratihast dismissed; violation of Regulations 3 and 4 upheld
  Appeal: Appeal Nos. 505/2019, 506/2019, 137/2021, 138/2021 reserved on 25.10.2021 and decided on 29.10.2021; 505-506 allowed, 137-138 dismissed