Jagdish Prasad Purohit

7 matters before the Securities Appellate Tribunal

Penalties and directions recorded

JMD Ventures Limited directed to pay Rs. 15 lakh for LODR violations
Penalties imposed on the other appellants set aside
Reduced JMD Ventures Limited penalty to Rs 15 lakhs
Set aside penalties imposed on individual appellants
Company penalty reduced to Rs 15 lakhs

SAT-appeal

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
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)
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

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Source: SecMarx — Jagdish Prasad Purohit. 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.