Lucille Pinto De Andrade

SAT-appeal

• SAT matter SATV-04D51C6A9E2C4C659CCDB063
  Delay in filing the review applications was condoned and the applications were allowed for consideration. · Review Applications Nos. 36 to 41 of 2023 were dismissed.
  Appeal: SEBI had filed an appeal against the Tribunal's order dated 24 July 2023; the appeal was stated to have been admitted by the Supreme Court. No appeal number or disposal is stated.
• Complaints concerned alleged failure to return monies invested with registered sub-broker Ameet Savant under an assured-returns arrangement.
  Impugned SCORES communications were set aside. · SEBI was directed to reconsider and decide the complaints in accordance with law.
  Appeal: Appeal Nos. 129, 130, 131 and 132 of 2020 were allowed on 20 January 2021.
• Alleged fraudulent and unfair trade practices by Ventura Securities Ltd and its authorised person, Ameet Savant, in receiving investor funds through investment schemes and failing to redeem them.
  Set aside SEBI communications dated 17 March 2021 and 11 June 2021 and NSE communication dated 24 September 2021. · SEBI directed to register the complaints and conduct a detailed investigation after hearing the appellants.
  Appeal: Appeal Nos. 390 to 393, 569 and 699 of 2021 disposed of on 24 July 2023; impugned communications set aside and investigation directed.
• The underlying appeals concerned SEBI-directed complaints and investigation; this review order records no finding on the substantive allegations.
  Delay in filing Review Applications Nos. 36 to 41 of 2023 was condoned and the applications were allowed for consideration. · Review Applications Nos. 36 to 41 of 2023 were dismissed for lack of sufficient grounds.
  Appeal: SEBI had filed an appeal against the Tribunal’s order dated 24 July 2023, which was stated to have been admitted by the Supreme Court; no appeal number or disposal is provided.
• Complaint that sub-broker Ameet Savant took investments promising assured returns and failed to redeem; allegation funds reached Ventura accounts.
  Impugned SCORES disposal communications set aside · Matter remitted to SEBI to reconsider complaints in accordance with law
  Appeal: Appeal Nos. 129, 130, 131 and 132 of 2020 allowed vide decision dated 20.01.2021
• Investor complaint of non-return of monies invested via sub-broker Ameet Savant offering assured returns; closed on SCORES as appellants not Ventura clients
  Impugned SCORES disposal communications set aside · Matter remitted to SEBI to reconsider complaints in accordance with law in light of observations
  Appeal: Appeal Nos. 129, 130, 131 and 132 of 2020 allowed and remanded vide decision dated 20.01.2021
• Investor complaint that monies invested with registered sub-broker Ameet Savant on assured returns were not redeemed; SCORES disposed complaint holding appellants not clients of Ventura and money given to proprietary concern.
  Impugned SCORES disposal communications set aside · Matter remitted to SEBI to reconsider complaints of appellants and decide in accordance with law in light of observations
• SAT matter SATV-59F0D403F2C4217B2B8D1613
  Delay in filing Review Applications Nos. 36 to 41 of 2023 condoned and applications allowed for consideration. · Review Applications Nos. 36 to 41 of 2023 dismissed; no sufficient ground to review the SAT order dated 24 July 2023.
  Appeal: SEBI's appeal against the SAT order dated 24 July 2023 was stated to have been admitted by the Supreme Court; no appeal number or disposal was provided.