Madhav Prasad Taparia

5 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Promoters and directors were restrained from dealing in securities except to achieve minimum public shareholding compliance.
Promoters and directors were restrained from taking new directorships in listed companies pending compliance.
Prohibit promoters/group and directors from dealing in company securities except for MPS compliance
Restrain promoter shareholders from holding new director position in any listed company
Restrain directors of company from holding new director position in any listed company

SAT-appeal

Failure to comply with the minimum public shareholding requirement under Rules 19(2)(b) and 19A of the SCRR Rules, 1957.
Appeals challenged the WTM common order dated 26 June 2019 confirming the ex-parte ad-interim order dated 20 May 2015. · Interim directions included freezing excess promoter/promoter-group voting rights and corporate benefits.
Appeal: Appeal Nos. 358 of 2019, 394 of 2019, 435 of 2019, 436 of 2019 and 218 of 2021 were heard together; decision dated 9 November 2021.
Failure to comply with minimum public shareholding under Rule 19(2)(b) and 19A SCRR - promoter holding 94.36% against max 75%, public shareholding only about 5.64%.
Freeze voting rights and corporate benefits on excess 77.44% promoter holding till MPS compliance · Prohibit promoters/group and directors from dealing in company securities except for MPS compliance
Appeal: Appeal Nos. 358 of 2019, 394 of 2019, 435 of 2019, 436 of 2019 and 218 of 2021 filed against common WTM order dated 26 June 2019, heard together, reserved 28.10.2021 decided 09.11.2021
Failure to comply with minimum 25% public shareholding under Rule 19(2)(b) and Rule 19A SCRR, with promoter/promoter group holding 94.36%.
Freeze voting rights and corporate benefits on excess promoter holding till MPS compliance · Prohibit promoters/promoter group and directors from dealing in company securities except for MPS compliance
Failure to comply with minimum public shareholding under Rule 19(2)(b) and Rule 19A SCRR with promoter holding 94.36% against 75% cap.
Freeze voting rights and corporate benefits on excess 77.44% promoter holding till MPS complied · Prohibit promoters/directors from buying/selling/dealing except for MPS compliance
Failure to comply with minimum 25% public shareholding under Rule 19(2)(b) and Rule 19A SCRR; promoter holding retained at 94.36% including persons allegedly shown as public shareholders.
Freeze voting rights and corporate benefits on excess promoter holding till MPS compliance · Prohibit promoters/promoter group/directors from dealing in company securities except for MPS compliance
Appeal: Appeal Nos. 358 of 2019, 394 of 2019, 435 of 2019, 436 of 2019 and 218 of 2021 - reserved 28.10.2021, decided 09.11.2021

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Source: SecMarx — Madhav Prasad Taparia. 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.