Mr. Basudeb Bagchi

2 matters before the Securities Appellate Tribunal

Penalties and directions recorded

WTM: directors liable in personal capacity; restrained from selling holdings subject to HC orders
AO order 17.03.2018: Rs 1 crore penalty jointly and severally for Section 11C default
Directors jointly/severally liable to refund; restrained from disposing personal assets
WTM directions subject to Calcutta High Court orders / Justice S.P. Talukdar committee
AO imposed Rs.1 crore joint and several penalty under Sec 15A SEBI Act

SAT-appeal

Deemed public issue of Redeemable Preference Shares to 24,237+ allottees raising Rs 24.95 cr plus Rs 106.42 cr without prospectus and listing, plus failure to produce documents and appear under Section 11C summons.
WTM order 30.08.2018: refund mobilised amounts with 15% p.a. interest only via bank DD/pay order · WTM: provide full inventory of assets; company assets to be sold only for making refund
Appeal: Appeal No.166 of 2018 and Appeal No.485 of 2018 before SAT Mumbai; reserved 10.12.2021, date of decision 02.03.2022
Deemed public issue of Redeemable Preference Shares to 24,237 allottees raising Rs.24.95 cr plus Rs.106.42 cr without prospectus/listing; failure to produce documents/appear under SEBI summons.
Refund mobilized RPS amounts with 15% p.a. interest only via bank demand draft/pay order · Provide full inventory of assets; sell company assets only for making refund
Appeal: Appeal No.166 of 2018 (against AO order 17.03.2018) and Appeal No.485 of 2018 (against WTM order 30.08.2018); reserved 10.12.2021, decided 02.03.2022

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Source: SecMarx — Mr. Basudeb Bagchi. 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.