Karun Jain
Penalties and directions recorded
- List the matters on 18 April 2023
- Matters listed on 2 August 2022
- Matters adjourned on appellants' counsel's request
- List all matters on 12 June 2023
- Matters listed for 15 September 2023
SAT-appeal
- SAT matter SATV-00650EDB1FDBC6E9E347922EAppeals adjourned at the request of the appellants' counsel · List the matters on 18 April 2023Appeal: Appeal Nos. 159 to 163 of 2022 were adjourned on 24 February 2023 and listed for 18 April 2023; no disposal on merits stated.
- SAT matter SATV-01659C8A6BFA7275F8D5EBCAConnected miscellaneous applications and appeals listed on 24 February 2023Appeal: Appeal Nos. 159 to 163 of 2022 were pending and listed for hearing on 24 February 2023; no disposal on merits stated.
- SAT matter SATV-05659C2BF407C0F537942A9ADelay in filing the appeals condoned · Miscellaneous applications disposed ofAppeal: Appeal Nos. 159, 160, 161, 162 and 163 of 2022; replies taken on record, rejoinders permitted, matters listed for 2 August 2022; not finally disposed
- SAT matter SATV-0ECDD1145ACF76853B6990D4Matters adjourned on appellants' counsel's request · List all matters on 12 June 2023Appeal: Appeal Nos. 159, 160, 161, 162 and 163 of 2022 were pending before SAT and adjourned on 18 April 2023 to 12 June 2023.
- SAT matter SATV-26B4BFEF512145B1E95426C9List all connected appeals and miscellaneous applications on 13 October 2022 · Rejoinder may be filed by 13 October 2022Appeal: Appeal Nos. 159, 160, 161, 162 and 163 of 2022 were listed for further proceedings on 13 October 2022; no disposal on merits stated.
- SAT matter SATV-317278B8341A7E6D17F71CA4Appeals adjourned on the appellants' request · Matters listed for 15 September 2023Appeal: Appeal Nos. 159, 160, 161 and 162 of 2022 were adjourned on 3 August 2023; listed for 15 September 2023. Appeal No. 163 of 2022 was also listed in the batch; no disposal on merits.
- SAT matter SATV-3AB3829E429AF832D1EC6334Adjourned on request of learned counsel for the appellants · List on November 22, 2022Appeal: Appeal Nos. 159, 160, 161, 162, 163 of 2022 pending before SAT; adjourned to November 22, 2022
- Sole-subscriber GDR funded by Banco loan against pledged GDR proceeds concealed from BSE; USD 8.90m proceeds diverted, misleading announcement.Violation affirmed; company direction to bring back USD 8.90 million upheld · Company debarment from securities market until/two years after bringing back money upheldAppeal: Appeal Nos 159,160,161,162,163 of 2022 with Misc Apps 985,1140,1163,1238,1428 of 2021 decided 27.09.2023; partly allowed to reduce penalty/debarment
- SAT matter SATV-69FBB69728B11197B1F5764AList matters on October 13, 2022 · Rejoinder may be filed by thenAppeal: Appeal Nos. 159, 160, 161, 162, 163 of 2022 pending; adjourned to 13.10.2022
- GDR subscribed solely by Clifford via Banco loan secured by company pledge; non-disclosure to BSE and diversion of USD 8.90 mn GDR proceeds, misleading announcement.Violation affirmed; company to bring back USD 8.90 million upheld · Company debarred from securities market till money brought back (+2 years) upheldAppeal: Appeal Nos. 159,160,161,162,163 of 2022 with Misc. Appl. 985,1140,1163,1238,1428 of 2021 disposed on 27.09.2023
- SAT matter SATV-9D389A3B0627C11B20DDB472Adjourned on request of appellants counsel · List on August 3, 2023Appeal: Appeal Nos. 159, 160, 161, 162, 163 of 2022 with Misc. Applications Nos. 985, 1140, 1163, 1238, 1428 of 2021 pending; adjourned to August 3, 2023
- GDR fraud: sole subscription by Clifford via Banco loan secured by company pledge, non-disclosure of Credit/Account Charge agreements and diversion of USD 8.90m.Violation affirmed; direction to company to bring back USD 8.90 million upheld · Company debarment from securities market upheld till/2 years from bringing back money
- SAT matter SATV-B47D38DF35D414F9BB166222Three weeks time allowed to the appellant to file rejoinder · Matter listed on September 6, 2022Appeal: Appeal Nos. 159, 160, 161, 162 and 163 of 2022 pending before SAT; not disposed, adjourned for rejoinder to 06.09.2022
- SAT matter SATV-B19947CF691C644C874C7390Adjourned on request of appellants' counsel; matter listed on November 22, 2022Appeal: Appeal Nos. 159, 160, 161, 162, 163 of 2022 pending; adjourned to November 22, 2022
- SAT matter SATV-AF0160E75220B17BFA662D5BList on October 13, 2022 · Rejoinder may be filed by thenAppeal: Appeal Nos. 159, 160, 161, 162, 163 of 2022 pending with Misc. Applications; next listing 13.10.2022
- SAT matter SATV-C388DF8311CC34A5FBCFC87AList all matters on 24th February, 2023 · Parties to act on digitally signed copy; certified copy available from Registry on payment of usual chargesAppeal: Appeal Nos. 159, 160, 161, 162, 163 of 2022 with connected Misc. Applications pending before SAT; no disposal, next listing 24 February 2023
- SAT matter SATV-CEC8FEE3B1120E48A1B70EC1List matters on October 13, 2022 · Rejoinder may be filed by next date of listingAppeal: Appeal Nos. 159, 160, 161, 162 and 163 of 2022 pending; adjourned to October 13, 2022
- SAT matter SATV-D47FA21C4A769F08BBA66870Delay of 538 days in filing appeal condoned; delay condonation applications allowed · SEBI permitted to file reply within three weeksAppeal: Appeal Nos. 159, 160, 161, 162 and 163 of 2022 with Misc. Applications 985, 1140, 1163, 1238, 1428 of 2021 - delay condoned on 20 April 2022, pending; next date 30 June 2022
- Concealment of Credit and Account Charge Agreements; sole GDR subscription by Clifford via Banco loan; diversion of USD 8.90 mn proceeds and misleading BSE announcement.Violation affirmed; direction to company to bring back USD 8.90 million upheld · Company debarment till money brought back upheldAppeal: Appeal Nos. 159, 160, 161, 162, 163 of 2022 disposed on 27.09.2023 (hearing 15.09.2023): partly allowed to reduce debarment/penalty, rest dismissed
- SAT matter SATV-E426906D7253F6369760B431List matters on 24 February 2023 · Parties to act on digitally signed copy signed by Private Secretary on behalf of benchAppeal: Appeal Nos. 159, 160, 161, 162, 163 of 2022 with connected Misc. Applications pending before SAT; adjourned to 24 February 2023, not disposed
- SAT matter SATV-E6A60C6F6CD24F280C16FBFFAdjourned on request of learned counsel for the appellants · List matters on November 22, 2022Appeal: Appeal Nos. 159, 160, 161, 162 and 163 of 2022 with connected Misc. Applications adjourned on 13.10.2022; listed on 22.11.2022; no disposal
- SAT matter SATV-4D56A5DA44E9556857561A56All listed matters were adjourned and directed to be listed on 12 January 2023. · Parties were directed to act on the digitally signed order.Appeal: Appeal Nos. 159, 160, 161, 162 and 163 of 2022 were pending; the matters were adjourned on 22 November 2022 to 12 January 2023.
- SAT matter SATV-6EBF4BB970F15C9880CC0179Appeals and connected miscellaneous applications adjourned on appellants' request · Matters listed for 22 November 2022Appeal: Appeal Nos. 159, 160, 161, 162 and 163 of 2022 were adjourned on 13 October 2022 and listed for 22 November 2022
- Alleged concealment and suppression of material facts relating to loan and account charge/pledge agreements connected with the GDR issue, diversion of US$8.90 million, and misleading investors about the number of GDR subscribers.Direction to MPS to bring back US$8.90 million raised through the GDR issue upheld · MPS debarment from securities-market access until bringing back the money, with a further two-year period from the date of bringing back the money, upheldAppeal: Appeal Nos. 159 to 163 of 2022 disposed by SAT decision dated 27 September 2023; violations affirmed, debarment periods reduced for two appellants, and company penalty reduced to Rs.25 lakh.
- SAT matter SATV-87C978343A354E05ED1141E7Adjourned on request of learned counsel for appellants · List on April 18, 2023Appeal: Appeal Nos. 159, 160, 161, 162, 163 of 2022 with Misc. Applications pending before SAT; adjourned on 24.02.2023 to 18.04.2023, no disposal
- SAT matter SATV-87FFCED4973D33B0DB24581AList on 24th February, 2023 · Parties directed to act on digitally signed copy signed by Private Secretary on behalf of bench
- SAT matter SATV-9006632FC64C8D2FFD186782Adjourned on request of learned counsel for appellants · Parties to act on digitally signed copy; certified copy from Registry on payment of usual chargesAppeal: Appeal Nos. 159, 160, 161, 162, 163 of 2022 pending; adjourned to April 18, 2023 with connected Misc. Applications
- SAT matter SATV-B573775772B51E01433374B6Adjourned on request of learned counsel for appellants · List on November 22, 2022Appeal: Appeal Nos. 159, 160, 161, 162 and 163 of 2022 pending; adjourned to November 22, 2022
- SAT matter SATV-BADB9AE5D7A3E2D90F4AA88CAdjourned on request of learned counsel for appellants · List on April 18, 2023Appeal: Appeal Nos. 159, 160, 161, 162, 163 of 2022 pending before SAT; adjourned on 24.02.2023 to 18.04.2023
- SAT matter SATV-D9E7C4E334556998FFCAA0FDList all appeals and misc applications on October 13, 2022 · Rejoinder may be filed by October 13, 2022Appeal: Appeal Nos. 159, 160, 161, 162, 163 of 2022 pending; adjourned to October 13, 2022
- SAT matter SATV-ECF1A417F8401CE4943D73D2Delay in filing reply condoned, reply taken on record, rejoinder filed · Adjournment granted at appellants' requestAppeal: Appeal Nos. 159, 160, 161, 162 and 163 of 2022 pending before SAT, adjourned to July 6, 2023
- SAT matter SATV-E733A46EC4462719DC7D1DD0Adjourned on request of learned counsel for appellants · List on April 18, 2023Appeal: Appeal Nos. 159, 160, 161, 162, 163 of 2022 pending before SAT; adjourned to 18 April 2023
- SAT matter SATV-F7CC3A2653DE5EDBDE85987CList all matters on 24 February 2023 · Parties to act on digitally signed copy by Private Secretary; certified copy available on paymentAppeal: Appeal Nos.159, 160, 161, 162, 163 of 2022 with connected Misc. Applications pending; no disposal, listed on 24 February 2023
Other
- SAT matter SATV-888DB65B87F30F3A1FED7E88Heard counsel for parties; order reservedAppeal: Appeal Nos. 159, 160, 161, 162, 163 of 2022 with Misc. Applications 985, 1140, 1163, 1238, 1428 of 2021 heard on 15.09.2023; order reserved, appeals not disposed
Source: SecMarx — Karun Jain. 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.