Mr. Girraj Kishor Agrawal

28 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Impugned AO orders imposing penalties were quashed and set aside.
Matters listed for further hearing on 6 August 2021
Parties to take instructions from the Registrar 48 hours before the hearing regarding video conference or physical hearing
Parties to take instructions from the Registrar 48 hours before the hearing regarding video conference or physical hearing
Matters were adjourned.

SAT-appeal

Essar (India) Limited allegedly funded the appellants' preferential allotment subscriptions, creating a false impression of fund infusion and constituting an unfair trade practice.
Impugned AO orders imposing penalties were quashed and set aside. · All three appeals were allowed with no order as to costs.
Appeal: Appeal Nos. 650, 658 and 952 of 2022 were allowed by SAT on 31 October 2023; impugned AO orders were quashed.
SAT matter SATV-1E4A73E98D7EEC5AC8172351
Matters listed for further hearing on 6 August 2021 · Parties to take instructions from the Registrar 48 hours before the hearing regarding video conference or physical hearing
Appeal: Appeal Nos. 507, 508, 509, 514, 515, 545, 552, 600, 607, 611, 612 of 2019 and 30, 67, 68 of 2020 were heard and adjourned for further hearing on 6 August 2021
The impugned SEBI order found that funds from preferential share issues were diverted under the guise of loan repayments to the appellants and directed the three noticees to restore the amount to the company.
Appeal No. 28 of 2024 by Handful Investrade Pvt. Ltd. dismissed as not maintainable. · Appeal No. 29 of 2024 by Banas Finance Ltd. dismissed as not maintainable.
Appeal: Appeal Nos. 28 and 29 of 2024 dismissed by SAT on 30 April 2024; Tilak Ventures Limited had separately challenged the impugned SEBI order.
SAT matter SATV-250D1CA50406137C9BDA5ADB
List Appeals Nos. 662 and 663 of 2021 for admission along with Tilak Ventures Ltd. v. SEBI, Appeal Lodging No. 589 of 2021, on 15 November 2021 · Parties to take instructions from the Registrar 48 hours before the hearing regarding video conference or physical hearing
Appeal: Appeal Nos. 662 and 663 of 2021; order dated 8 November 2021 directed listing for admission on 15 November 2021; no disposal on merits stated
SAT matter SATV-3358DB903A528A644F7DCCCB
Matters were adjourned. · List the matters on 18 June 2021.
Appeal: Appeal Nos. 507, 508, 509, 514, 515, 545, 600, 611, 612 of 2019, 30, 67, 68 of 2020 and 552, 607 of 2019 were listed; matters were adjourned to 18 June 2021.
Circular / reversal trades and price-volume manipulation in Octant Interactive Technologies Ltd with no transfer of beneficial ownership to create false appearance and wrongful gains.
Appeal: 14 appeals (Nos. 552, 507, 508, 509, 514, 515, 545, 600, 607, 611, 612 of 2019 and 30, 67, 68 of 2020) against AO order dated 2 Aug 2019; hearing 23 Aug 2021, decision 17 Sep 2021
Company funded its own preferential issue through conduits and misled investors and shareholders regarding raising of funds through preferential shares.
Appeals fail and are dismissed in limine without any order as to costs · AO's cumulative penalty of Rs. 70 lakhs upheld, no manifest error found
Appeal: Appeal Nos. 662, 663, 673 and 674 of 2021 dismissed in limine on 15.11.2021
Allegedly funded its own preferential issue through intermediaries, misleading investors and shareholders about raising funds through preferential shares; treated as fraud on the securities market.
All four appeals dismissed in limine · Common AO order dated 30 July 2021 upheld
Appeal: Appeal Nos. 662, 663, 673 and 674 of 2021 dismissed in limine on 15 November 2021
Circular/reversal trades with no change in beneficial ownership to create false appearance of trades, artificial volume and price manipulation in Octant Interactive Technologies Ltd for wrongful gains.
AO found violation of Regulations 3 and 4 PFUTP and imposed different penalties on each noticee
SAT matter SATV-8B386DA3FD9A97344851864F
Hearing begun; put up matters for further hearing on August 6, 2021 · Parties to take instructions from Registrar 48 hrs before date fixed on video conference or physical hearing
Appeal: Appeal Nos. 507,508,509,514,515,545,552,600,607,611,612 of 2019 and 30,67,68 of 2020 pending; hearing begun, adjourned to 06.08.2021
SAT matter SATV-36962395684B30401C16FA88
Matters listed for further hearing on 6 August 2021 · Parties to take instructions from the Registrar 48 hours before the next hearing regarding video conference or physical hearing
Appeal: Appeal Nos. 507, 508, 509, 514, 515, 545, 552, 600, 607, 611, 612 of 2019 and Appeal Nos. 30, 67 and 68 of 2020 were heard and adjourned for further hearing on 6 August 2021
SAT matter SATV-A263BD6B6677E20323DBF94D
List Appeal No. 662/2021 and 663/2021 for admission with Tilak Ventures Ltd appeal · Parties to act on digitally signed copy sent by fax and/or email
Appeal: Appeal No. 662 of 2021 and Appeal No. 663 of 2021 listed for admission on 15.11.2021; not disposed
Circular/reversal trades and price manipulation with artificial volume in Octant Interactive Technologies Ltd to create false misleading appearance of trading for wrongful gains.
Appeal: Appeal Nos. 552, 507, 508, 509, 514, 515, 545, 600, 607, 611, 612 of 2019 and 30, 67, 68 of 2020 against AO order dated 02.08.2019; hearing 23.08.2021, decision 17.09.2021
SAT matter SATV-CFBB2C46175B93D82F8AC03A
Matter adjourned on appellant's praecipe seeking adjournment · Listed for admission on November 8, 2021
Appeal: Appeal No. 662 of 2021 (Girraj Kishor Agrawal vs SEBI) adjourned vide order dated 28.10.2021; listed for admission on November 8, 2021
Company funded its own preferential issue through conduits and misled investors and shareholders regarding raising of funds through preferential shares.
Appeals dismissed in limine without any order as to costs · AO cumulative penalty of Rs. 70 lakhs upheld; no manifest error found
Appeal: Appeal Nos. 662, 663, 673 and 674 of 2021 disposed on 15.11.2021 - dismissed in limine
Alleged diversion of preferential issue proceeds of Tilak Ventures in guise of loan repayments to connected finance companies.
Appeal Nos. 28 and 29 of 2024 dismissed as not maintainable; no direction against appellants in ED order · Appellants defence against any future recovery proceedings by Tilak Ventures kept open
Appeal: Appeal Nos. 28-29 of 2024 dismissed 30.04.2024; Tilak Ventures separate challenge to same ED order noted as pending
Circular / reversal trades and price manipulation with artificial volume in scrip of Octant Interactive Technologies Ltd by promoter, Manish Rathi and Kolkata groups to offload promoter shares at manipulated price.
Appeal: Fourteen SAT appeals Nos. 552, 507, 508, 509, 514, 515, 545, 600, 607, 611, 612 of 2019 and 30, 67, 68 of 2020 against AO order dated 02.08.2019; heard 23.08.2021, decision 17.09.2021
Circular/reversal trades with no change in beneficial ownership to create false volume and manipulate price of Octant Interactive Technologies Ltd for promoters to offload at manipulated price.
Appeal: Fourteen SAT Appeals Nos. 552, 507, 508, 509, 514, 515, 545, 600, 607, 611, 612 of 2019 and 30, 67, 68 of 2020 against AO order dated 02.08.2019; heard 23.08.2021, decision 17.09.2021
SAT matter SATV-5D5141AB5E0A9C7A01670AB2
Matters to be put up for further hearing on 6 August 2021 · Parties to take instructions from the Registrar 48 hours before the fixed hearing regarding video conference or physical hearing
Appeal: Appeal Nos. 507, 508, 509, 514, 515, 545, 552, 600, 607, 611, 612 of 2019 and Appeal Nos. 30, 67 and 68 of 2020 were heard; further hearing fixed for 6 August 2021.
Essar (India) Ltd allegedly funded its own preferential allotment to appellants, creating false impression of fund infusion.
AO orders quashed; Appeal Nos. 650, 658, 952 of 2022 allowed · No order as to costs; Misc. Applications 1693/2022, 1430/2022 disposed
Appeal: Appeal Nos. 650, 658, 952 of 2022 allowed on 31.10.2023; AO penalty orders quashed
SAT matter SATV-72B6FA03BA8FDB3F0567C2E4
Matters adjourned on request for adjournment · List on June 18, 2021
Appeal: Appeal Nos. 507, 508, 509, 514, 515, 545, 552, 600, 607, 611, 612 of 2019 and 30, 67, 68 of 2020 heard on 12.05.2021; adjourned, to be listed on 18.06.2021
Company funded its own preferential issue through conduits and misled investors/shareholders about raising funds via preferential shares.
Appeals dismissed in limine; AO order upheld · No order as to costs
Appeal: Appeal Nos. 662, 663, 673 and 674 of 2021 dismissed on 15.11.2021
Circular/reversal trades and price manipulation with artificial volume in Octant Interactive Technologies Ltd creating false appearance of trades for wrongful gains.
Appeal: Fourteen appeals Nos. 552, 507, 508, 509, 514, 515, 545, 600, 607, 611, 612 of 2019 and 30, 67, 68 of 2020; hearing 23.08.2021, decision 17.09.2021; disposal not in excerpt
Circular/reversal trades with no change in beneficial ownership to create false volume and manipulate price of Octant Interactive Technologies Ltd. scrip for wrongful gains.
Appeal: Fourteen appeals Nos. 552, 507, 508, 509, 514, 515, 545, 600, 607, 611, 612 of 2019 and 30, 67, 68 of 2020 against AO order dated 02.08.2019; SAT hearing 23.08.2021, decision 17.09.2021
Circular/reversal trades on and off-market with no transfer of beneficial ownership to create false appearance, artificial volume and price manipulation in Octant Interactive Technologies Ltd for wrongful gain.
AO vide order dated August 2, 2019 held appellants and other noticees guilty of violating Regulations 3 and 4 of PFUTP Regulations and imposed different penalties on each appellant
Appeal: Fourteen appeals Nos. 552, 507, 508, 509, 514, 515, 545, 600, 607, 611, 612 of 2019 and 30, 67, 68 of 2020 against AO order dated 02.08.2019; heard 23.08.2021, decided 17.09.2021
Essar (India) Ltd allegedly funded allottees' subscription to its own preferential allotment, creating false impression of fund infusion - unfair trade practice.
AO impugned orders quashed · Appeal Nos. 650/2022, 658/2022 and 952/2022 allowed
Appeal: Appeal Nos. 650/2022, 658/2022 and 952/2022 allowed vide SAT decision dated 31.10.2023 (reserved 25.04.2023)
Circular / reversal trades and price-volume manipulation in Octant Interactive Technologies Ltd. by promoter, Manish Rathi and Kolkata groups with no change in beneficial ownership.
Appeal: 14 appeals against AO order 02.08.2019 heard 23.08.2021, decision dated 17.09.2021; operative disposal not in excerpt

Other

SAT matter SATV-AEEA5273F94990645C0BE292
Put up matters for further hearing on August 6, 2021 · Parties to act on digitally signed copy sent by fax and/or email

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Source: SecMarx — Mr. Girraj Kishor Agrawal. 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.