Master Finlease Limited

4 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Appeals challenged the common WTM order dated 28 September 2018 directing disgorgement of Rs. 4,55,91,232 with 10% annual interest from 1 August 2002 until payment.
Disgorge unlawful gains totaling Rs. 4,55,91,232 with 10% p.a. interest from 1 Aug 2002 till payment
If not paid within 45 days, restrained from buying, selling or dealing in securities for 5 years
WTM direction to disgorge unlawful gains totaling Rs. 4,55,91,232 with 10% annual interest was under challenge.
If payment was not made within 45 days, appellants would be restrained from securities-market activity for five years.

SAT-appeal

Misleading and fraudulent advertisements concerning buy-back, bonus shares and preferential issue of shares; alleged fraudulent, manipulative and unfair trade practices.
Appeals challenged the common WTM order dated 28 September 2018 directing disgorgement of Rs. 4,55,91,232 with 10% annual interest from 1 August 2002 until payment. · The earlier WTM order dated 31 July 2014 restrained appellants from accessing and dealing in the securities market and imposed related share-freezing and voting restrictions.
Appeal: Appeal Nos. 318 of 2019, 321 of 2019, 442 of 2021 and 444 of 2019 were heard together; decision dated 20 December 2021.
Misleading advertisements by VCL on buy-back, bonus shares and preferential issue allegedly defrauding investors in violation of PFUTP.
Disgorge unlawful gains totaling Rs. 4,55,91,232 with 10% p.a. interest from 1 Aug 2002 till payment · If not paid within 45 days, restrained from buying, selling or dealing in securities for 5 years
Alleged misleading and fraudulent advertisements concerning buy-back of shares, bonus shares and preferential allotment, constituting fraudulent and unfair trade practices.
WTM direction to disgorge unlawful gains totaling Rs. 4,55,91,232 with 10% annual interest was under challenge. · If payment was not made within 45 days, appellants would be restrained from securities-market activity for five years.
Appeal: Appeals Nos. 318 of 2019, 321 of 2019, 442 of 2021 and 444 of 2019; decision dated 20 December 2021. Outcome on merits is not included in the supplied text.
Misleading advertisements by VCL on buy-back, bonus shares and preferential issue amounting to fraudulent and unfair trade practices defrauding investors.
Disgorge unlawful gains totaling Rs 4,55,91,232 with 10% p.a. interest from 1 Aug 2002 · If not paid within 45 days, restraint from buying, selling or dealing in securities for 5 years
Appeal: Appeal Nos. 318/2019, 321/2019, 442/2021, 444/2019 against WTM order 28 Sep 2018; reserved 13 Dec 2021, decided 20 Dec 2021

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Source: SecMarx — Master Finlease Limited. 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.