Mr. Rakesh Dhingra

8 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Four appeals against the common AO penalty order dated 28 March 2019 were heard together; supplied text ends before the final operative disposal.
CGM impugned order dated Dec 29, 2023 issued directions under Sec 11(1),11B(1) and imposed Rs.10 lakhs penalty each under Sec 15HB (SAT final holding truncated in excerpt)
Four appeals against the common AO penalty order dated 28 March 2019 were decided together

SAT-appeal

Alleged illegal third extension of CIG Realty Fund schemes and failure to wind them up after expiry, contrary to Regulations 23(1)(a) read with 16.
Four appeals against the common AO penalty order dated 28 March 2019 were heard together; supplied text ends before the final operative disposal.
Appeal: Appeal Nos. 370, 371, 405 and 406 of 2019 were heard on 30 April 2021; decision dated 4 May 2021. Final disposal outcome is not included in the supplied text.
Trustees failed to wind up CIG Realty Fund Schemes I, II, IV after tenure expiry and return money, redress 139 investor complaints, cooperate with inspection, report quarterly and comply with KYC/FIU norms.
CGM impugned order dated Dec 29, 2023 issued directions under Sec 11(1),11B(1) and imposed Rs.10 lakhs penalty each under Sec 15HB (SAT final holding truncated in excerpt)
Appeal: Appeal No.186 of 2024 with Misc. Applications 447 and 1311 of 2024, heard and reserved April 2, 2025, pronounced October 7, 2025; prior Appeal No.406 of 2019 decided May 4, 2021 upholding March 28, 2018/2019 penalty
SAT matter SATV-5D592CDDFE22B157FDBFB77F
By consent, matter called on 13.03.2025
Appeal: Appeal No. 186 of 2024 pending, adjourned by consent to 13.03.2025 vide order dated 06.02.2025
Illegally extending CIG Realty Fund-I and II for third time for 3 years beyond term and failing to wind up scheme as mandatorily required under Regulation 23(1)(a) r/w Regulation 16.
Illegally extending the terms of CIG Realty Fund-I and Fund-II for a third time and failing to wind up the schemes after expiry of their permitted terms.
Four appeals against the common AO penalty order dated 28 March 2019 were decided together
Appeal: Appeal Nos. 370, 371, 405 and 406 of 2019; heard 30 April 2021 and decided 4 May 2021. The excerpt does not state the operative disposal result.
Illegal third 3-year extension of CIG Realty Fund I and II beyond permitted term in violation of Regulation 23(1)(a) read with Regulation 16 and failure to wind up scheme after expiry.
Appeal: Appeal Nos. 370, 371, 405, 406 of 2019 with Misc. Applications 496-497 of 2019 against AO order dated March 28, 2019; heard 30.04.2021, decided 04.05.2021 together
SAT matter SATV-D048F00B33C07C0A3438B897
Matter adjourned by consent, to be called on 01.04.2025
Appeal: Appeal No. 186 of 2024 pending before SAT; adjourned to 01.04.2025
SAT matter SATV-B943F30538889358927D576B
By consent, matter to be called on 17.12.2024 at 2.30 p.m.
Appeal: Appeal No. 186 of 2024 pending; next hearing fixed for 17.12.2024

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Source: SecMarx — Mr. Rakesh Dhingra. 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.