MLB Financial Services Ltd.

7 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Parties to take instructions from Registrar 48 hours before fixed date on video conference vs physical hearing
SEBI to pay simple interest @6% p.a. on Rs 3,14,497 from 28 March 2005 to 29 June 2018
SEBI to pay litigation costs of Rs 50,000 to appellant
SEBI to refund Rs.3,14,497 to appellant by cheque within 2 weeks in full and final settlement of principal amount claimed

SAT-appeal

SAT matter SATV-339E97C310F8FD57C826301A
Parties directed to act on the digitally signed copy of the order
Appeal: Appeal No. 494 of 2019; order dated 15 March 2021; order reserved, with no disposal outcome stated in the text
Appellant alleged SEBI unlawfully withheld Rs 3,14,497 paid under protest for about 13 years and claimed 15% interest plus litigation costs.
Appeal No. 313 of 2018 disposed with liberty to appellant to seek interest and costs via representation to SEBI · SEBI to decide representation by reasoned and speaking order after giving opportunity of hearing to appellant
SAT matter SATV-5420E16A2728AF76B381D2B2
Misc. Application allowed to be withdrawn with liberty to file independent appeal · Misc. Application disposed of with no order as to costs
Appeal: Misc. Application No. 378 of 2015 in Appeal No. 68 of 2005 disposed as withdrawn on 17.06.2016 with liberty to file fresh appeal
SAT matter SATV-6B5316021A94EAE4D0CC555C
Stand over to March 15, 2021 · Parties to take instructions from Registrar 48 hours before fixed date on video conference vs physical hearing
Appeal: Appeal No. 494 of 2019 pending, stood over to March 15, 2021 vide order dated 08.01.2021
Denial of 80% interest waiver by refusing to adjust Rs 1,19,095 credit; excess Rs 3,14,497 collected and retained without legal basis.
Quashed SEBI order dated 20 June 2019 rejecting interest and costs and allowed Appeal No. 494 of 2019 · SEBI to pay simple interest @6% p.a. on Rs 3,14,497 from 28 March 2005 to 29 June 2018
Challenge to Fee Liability Statement dated 12 March 2015 alleging excess fee paid to SEBI and seeking refund with 15% p.a. interest from 28.3.2010
SEBI to refund Rs.3,14,497 to appellant by cheque within 2 weeks in full and final settlement of principal amount claimed · Appellant permitted to withdraw appeal with liberty to file fresh appeal limited to interest and costs within 8 weeks
Appeal: Appeal No.272 of 2016 disposed of on 19.6.2018 as withdrawn with liberty to file fresh appeal on interest/costs
SAT matter SATV-AD9D46281B70381AF7E59601
Applicant permitted to withdraw Misc. Application No. 217 of 2014 with liberty to file fresh Misc. Application · Misc. Application disposed of with no order as to costs
Appeal: Misc. Application No. 217 of 2014 in Appeal No. 68 of 2005 disposed of on 04.12.2015 as withdrawn with liberty to file fresh

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Source: SecMarx — MLB Financial Services Ltd.. 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.