Joseph Polisetty

SAT-appeal

• SAT matter SATV-00A25EE6C6C7FD37CD233CBF
  Three weeks' time granted to the appellants to file rejoinder · Matters listed for 27 April 2023
  Appeal: Appeal Nos. 924-927 of 2022 and 29-31 of 2023 were pending; rejoinder time granted and matters listed for 27 April 2023
• SAT matter SATV-04C6E23AB086E3766FF8AAB6
  Three weeks' time granted to the appellants to file rejoinder · Matters listed for 27 April 2023
  Appeal: Appeal Nos. 924 to 927 of 2022, 29 to 31 of 2023; order dated 2 March 2023 granted time to file rejoinder and adjourned matters to 27 April 2023
• SAT matter SATV-119F6858DC01080973B4D060
  Matters adjourned on the appellants' request · Listed for hearing on 8 June 2023
  Appeal: Appeal Nos. 924, 925, 926 and 927 of 2022, and Appeal Nos. 29, 30 and 31 of 2023; adjourned on 27 April 2023 and listed on 8 June 2023
• SAT matter SATV-17A8D97D58ED9E753B73811A
  Three weeks allowed to appellants to file rejoinder · Matters listed for 27 April 2023
  Appeal: Appeal Nos. 924-927 of 2022 and Appeal Nos. 29-31 of 2023 were pending; rejoinders permitted and matters listed on 27 April 2023
• Fraudulent and manipulative routing of funds to create the appearance of genuine capital infusion through preferential allotment, and structured trades creating misleading trading appearance, artificial volumes and increased LTP.
  Appeals challenged the common AO order dated 16 September 2022 imposing penalties; the excerpt does not contain the final operative disposal.
  Appeal: Appeal Nos. 924, 925, 926 and 927 of 2022, Appeal Nos. 29, 30 and 31 of 2023; order dated 15 June 2023. Final disposal is not included in the provided excerpt.
• SAT matter SATV-2094DF97BB3AA87366FC4BA1
  Appellants granted three weeks to file rejoinder · Matters listed for 27 April 2023
  Appeal: Appeal Nos. 924-927 of 2022 and Appeal Nos. 29-31 of 2023 were pending; rejoinders permitted and matters listed for 27 April 2023
• SAT matter SATV-343EE9A23DFC19F4C5777DDF
  Adjourned on request of learned counsel for the appellant · List on June 8, 2023
  Appeal: Appeal Nos. 924-927 of 2022 and 29-31 of 2023 adjourned on 27.04.2023; listed on June 8, 2023; not disposed on merits
• SAT matter SATV-3B49A3DCE20089E4229BB828
  Three weeks time allowed to appellants to file rejoinder · Matter listed on March 2, 2023
  Appeal: Appeal Nos. 924-927 of 2022 and 29-31 of 2023 pending at rejoinder stage; next listing March 2, 2023
• SAT matter SATV-7348FA2F0ACF64079FE13977
  Heard in part; matters put up on June 12, 2023
  Appeal: Appeal Nos. 924, 925, 926, 927 of 2022 and 29, 30, 31 of 2023 pending before SAT; heard in part on 08.06.2023, adjourned to 12.06.2023, no disposal yet
• SAT matter SATV-70E332353AB67B70D998FFBD
  Three weeks time allowed to appellants to file rejoinder · List on April 27, 2023
  Appeal: Appeal Nos. 924-927 of 2022 and 29-31 of 2023 pending; adjourned to April 27, 2023 for rejoinder
• SAT matter SATV-8B4555F87DB8E4393EB880FF
  Heard counsel for parties; order reserved · Parties to act on digitally signed copy signed by Private Secretary on behalf of bench
  Appeal: Appeal Nos. 619, 664, 665, 666, 667, 668, 669 of 2023 heard on 10.08.2023; order reserved with no final disposal
• SAT matter SATV-9B26FA9DD974FF894C1A5910
  Heard in part; matters to be put up on June 12, 2023 · Parties to act on digitally signed copy; certified copy available from Registry on payment of usual charges
  Appeal: Appeal Nos. 924, 925, 926, 927 of 2022 and 29, 30, 31 of 2023 pending before SAT; heard in part on 08.06.2023 and adjourned to 12.06.2023
• SAT matter SATV-A629B5F586510EB26F2DE924
  Three weeks time allowed to appellants to file rejoinder · List matters on April 27, 2023
  Appeal: Appeal Nos. 924, 925, 926, 927 of 2022 and 29, 30, 31 of 2023 pending before SAT; next listed on 27 April 2023
• Fraudulent preferential allotment with no genuine capital infusion via routing Rs 189.40 lakh and circular return; plus structured trades creating false volume and LTP.
  AO penalties sustained: Rs 2.14 cr (Sr2), Rs 76 lakh (Sr3), Rs 19 lakh (Sr5), Rs 30 lakh (Sr6), Rs 8 lakh joint and several (Sr22-24) · Disgorgement of unlawful gains on sale of preferentially allotted shares at higher price upheld
• SAT matter SATV-B1B60070DF0C6B4F4A0A3BD5
  Adjourned on request of learned counsel for the appellant · List matters on June 8, 2023
  Appeal: Appeal Nos. 924, 925, 926, 927 of 2022 and 29, 30, 31 of 2023 pending; adjourned on 27.04.2023, next date June 8, 2023
• Appellants as PACs acquired 21,00,000 shares via preferential allotment, raised group holding from 24.10% to 88.03% without disclosure under Reg 29(2)/(3) and without open offer under Reg 3(1).
  Restraint from buying, selling or dealing in securities directly or indirectly for 5 years per WTM order · Penalty of Rs. 1.25 crore to be paid jointly and severally by appellants per WTM order
  Appeal: Appeal Nos. 619, 664, 665, 666, 667, 668, 669 of 2023 heard 10.08.2023 decided 29.08.2023; final SAT disposal not visible in excerpt
• SAT matter SATV-BA239FF52276F1BA96A4F2F4
  Connect/tag all matters with Appeal No. 619 of 2023 · Put up matters for hearing on August 10, 2023
  Appeal: Appeal Nos. 664, 665, 666, 667, 668, 669 of 2023 with Misc. Applications Nos. 994, 992, 993 of 2023 pending; tagged with Appeal No. 619 of 2023 and adjourned to 10.08.2023
• Fraudulent preferential allotment of Abhishek Infraventures Ltd without genuine capital infusion via routing of funds and misleading trading.
  AO directed disgorgement of unlawful gains made on sale of preferentially allotted shares at higher price · AO imposed monetary penalties for violation of Section 12A and Regulations 3, 4 PFUTP Regulations
• SAT matter SATV-DD4B1A0E7889022E4A513133
  Three weeks time allowed to appellants to file rejoinder · List matters on April 27, 2023
  Appeal: Appeal Nos. 924-927 of 2022 and 29-31 of 2023 pending before SAT; rejoinder stage; next listed 27.04.2023
• Appellants allegedly acted in concert, acquired shares through preferential allotment without making an open offer, and failed to disclose a change exceeding 2% in group shareholding.
  Appeals against the WTM order were dismissed insofar as the challenged penalty was concerned. · Five-year restraint from buying, selling or otherwise dealing in securities was imposed by the WTM order.
  Appeal: Appeal Nos. 619, 664, 665, 666, 667, 668 of 2023, with specified miscellaneous applications; decided together on 29 August 2023.
• SAT matter SATV-F09C933B44A442DFFE1BAD7D
  Three weeks time allowed to the appellant to file rejoinder · List on March 2, 2023
  Appeal: Appeal Nos. 924, 925, 926, 927 of 2022 and 29, 30, 31 of 2023 pending before SAT; adjourned for rejoinder, listed on 02.03.2023
• SAT matter SATV-FD04F01E0DCEA2AE36A0B8BC
  Three weeks time allowed to appellant to file rejoinder · List on March 2, 2023
• SAT matter SATV-FFAFA8E1946D332EF50AA618
  Three weeks time allowed to appellants to file rejoinder · List matters on April 27, 2023
  Appeal: Appeal Nos. 924-927 of 2022 and 29-31 of 2023 pending before SAT; order dated 02.03.2023 grants rejoinder time, listed on 27.04.2023; not disposed
• SAT matter SATV-6E47D2E75A6A582CC6AB1AB6
  Matters heard in part · Matters listed for further hearing on 12 June 2023
  Appeal: Appeal Nos. 924-927 of 2022 and Appeal Nos. 29-31 of 2023 were heard in part; further hearing fixed for 12 June 2023.
• SAT matter SATV-6AD64BF630097804121819AF
  Matters were heard in part. · Matters listed for continuation on 12 June 2023.
  Appeal: Appeal Nos. 924, 925, 926 and 927 of 2022, and Appeal Nos. 29, 30 and 31 of 2023 were heard in part on 8 June 2023; no disposal on merits stated.
• PACs acquired 21,00,000 shares via preferential allotment raising group holding 24.10% to 88.03% without open offer under Reg 3(1) and without disclosure under Reg 29(2)/29(3), with circular fund movement showing false capital infusion.
  WTM: restraint from buying, selling or dealing in securities directly or indirectly for five years · WTM: penalty of Rs 1.25 crore to be paid jointly and severally by appellants
  Appeal: Appeal Nos. 619, 664, 665, 666, 667, 668, 669 of 2023 heard 10.08.2023, decided 29.08.2023 as common order
• PAC group acquired 21,00,000 shares via preferential allotment raising holding from 24.10% to 88.03% without open offer under Reg 3(1) and without disclosure under Reg 29(2)/29(3), with fund round-tripping to fake capital infusion.
  WTM restrained appellants from buying, selling or dealing in securities directly/indirectly for 5 years · WTM imposed penalty of Rs 1.25 crore jointly and severally
• Fraudulent preferential allotment of Abhishek Infraventures without genuine capital infusion via routed funds; structured trades creating false volume and LTP.
  AO imposed Rs 2.14 cr, Rs 76 lakh, Rs 19 lakh, Rs 30 lakh and Rs 8 lakh jointly and severally · AO directed disgorgement of unlawful gains from sale of preferential shares at higher price
• SAT matter SATV-853B11FD90CDB762F8D4997C
  Three weeks time allowed to the appellant to file rejoinder · List on March 2, 2023
  Appeal: Appeal Nos. 924-927 of 2022 and 29-31 of 2023 pending; adjourned to March 2, 2023 for filing rejoinder
• Fraudulent preferential allotment of Abhishek Infraventures Ltd without genuine capital infusion via circular funding and structured trades creating false volume/LTP.
  AO penalties: Rs 2.14 cr, Rs 76 lakh, Rs 19 lakh, Rs 30 lakh and Rs 8 lakh jointly; SAT affirms fraud finding · Disgorgement of unlawful gains made on sale of preferentially allotted shares at higher price
  Appeal: Appeal Nos. 924-927 of 2022 and 29-31 of 2023 against AO order dated 16.09.2022; reserved 12.06.2023, decided 15.06.2023
• Fraudulent preferential allotment by Abhishek Infraventures Ltd without genuine capital infusion via routed funds; structured trades creating artificial volume and LTP.
  AO penalties: Rs 2.14 cr (Sr No 2), Rs 76 lakh (Sr No 3), Rs 19 lakh (Sr No 5), Rs 30 lakh (Sr No 6), Rs 8 lakh jointly (Sr Nos 22-24) · Disgorgement of unlawful gains made on sale of preferential shares at higher price
  Appeal: Appeal Nos 924-927 of 2022 and 29-31 of 2023 against AO order; reserved 12.06.2023, decided 15.06.2023
• SAT matter SATV-AD4679CDFB6EC222E1F62EE8
  Heard in part · Put up these matters on June 12, 2023
  Appeal: Appeal Nos. 924-927 of 2022 and 29-31 of 2023 heard in part on 08.06.2023, next listed June 12, 2023; not disposed
• Fraudulent preferential allotment of Abhishek Infraventures Ltd without genuine capital infusion via routed funds, and structured trades creating misleading appearance, artificial volume and LTP rise.
  Rs 2.14 crore penalty on noticee Sr No 2 · Rs 76 lakh penalty on noticee Sr No 3
  Appeal: Appeal Nos 924-927 of 2022 and 29-31 of 2023, Order Reserved 12.06.2023, Date of Decision 15.06.2023
• PACs acquired 21,00,000 shares via preferential allotment raising group holding 24.10% to 88.03% without open offer under Reg 3(1) and without disclosure under Reg 29(2)/29(3); funds round-tripped to show false capital infusion.
  WTM order dated 31 May 2023 upheld - restraint from buying/selling/dealing in securities for 5 years · Penalty of Rs 1.25 crore jointly and severally upheld; contentions on Section 15A(b) and Reg 3(1) rejected
• SAT matter SATV-B90441537E4048B36DCC94D9
  Heard in part · Matters to be put up on June 12, 2023
  Appeal: Appeal Nos. 924, 925, 926, 927 of 2022 and 29, 30, 31 of 2023 vs SEBI heard in part on 08.06.2023, adjourned to 12.06.2023
• PACs failed to disclose change in shareholding and make open offer after acquiring 21,00,000 shares via preferential allotment, raising group holding from 24.10% to 88.03%.
  WTM restrained appellants from buying/selling/dealing in securities directly/indirectly for 5 years · WTM imposed penalty of Rs 1.25 crore jointly and severally
  Appeal: Appeal Nos 619,664,665,666,667,668,669 of 2023 heard on 10.08.2023 decided on 29.08.2023 against WTM common order dated 31.05.2023; with Misc Applications 994,992,993 of 2023
• SAT matter SATV-D5FD0CC5F7E61288AEBB8CA5
  Three weeks time allowed to appellants to file rejoinder · List on April 27, 2023
  Appeal: Appeal Nos. 924, 925, 926, 927 of 2022 and 29, 30, 31 of 2023 pending; rejoinder stage; next date April 27, 2023
• PACs acquired 21,00,000 shares via preferential allotment raising group holding 24.10% to 88.03% without open offer under Reg 3(1) and without Reg 29(2)/29(3) disclosure, with circular fund movement.
  WTM restraint from buying/selling/dealing in securities directly/indirectly for 5 years · WTM penalty Rs 1.25 crore jointly and severally
  Appeal: Appeal Nos. 619, 664, 665, 666, 667, 668, 669 of 2023 heard 10.08.2023 decided 29.08.2023 with Misc Apps 994, 992, 993 of 2023
• SAT matter SATV-F28928B1D5B42B984BB880B2
  Heard in part · Matters put up on June 12, 2023
  Appeal: Appeal Nos. 924-927 of 2022 and 29-31 of 2023 pending; heard in part on 08.06.2023, listed next on 12.06.2023, no disposal
• SAT matter SATV-F097C26F397C5C09D6C89F15
  Three weeks time allowed to the appellants to file rejoinder · Matter listed on March 2, 2023
  Appeal: Appeal Nos. 924, 925, 926, 927 of 2022 and 29, 30, 31 of 2023 pending; rejoinder stage; next date March 2, 2023
• SAT matter SATV-EF3C104B37E7B446640896FD
  Three weeks time allowed to appellant to file rejoinder · List matters on March 2, 2023
  Appeal: Appeal Nos. 924-927 of 2022 and 29-31 of 2023 pending before SAT; not disposed, adjourned to March 2, 2023 for rejoinder