Mr. Ramesh Sanka

SAT-appeal

• Alleged failure to disclose material information in DLF’s IPO offer documents, including the restructuring and transactions involving Sudipti, Shalika and Felicite and related litigation/complaints.
  Appeals against the WTM order dated 10 October 2014 were heard together, with Appeal No. 331 of 2014 treated as the lead case. · Impugned three-year restraint from accessing the securities market and dealing in securities was challenged.
  Appeal: Appeal Nos. 331, 392, 393, 394, 395, 396 and 415 of 2014 were heard together; decision dated 13 March 2015.
• Alleged failure to disclose material information concerning group companies, transactions and a complaint involving Sudipti Estates in DLF's IPO offer documents.
  Appeals were heard together, with Appeal No. 331 of 2014 treated as the lead case; the provided text does not include the final operative disposal.
  Appeal: Appeal Nos. 331, 392, 393, 394, 395, 396 and 415 of 2014 were heard together; decision dated 13 March 2015. Final disposal directions are absent from the provided excerpt.
• Alleged violation of SEBI Act and regulations framed thereunder per AO orders, on same facts as WTM 10 Oct 2014 directions
  Dispose of Appeals Nos. 193-199, 206, 208-209, 217, 225-226 of 2015 and Misc. Application 187 of 2016 without going into merits · Appeals and Intervention Application shall stand automatically revived once Apex Court disposes SEBI Civil Appeals
  Appeal: SAT Appeals Nos. 193-199, 206, 208-209, 217, 225-226 of 2015 disposed on 25.04.2018; SEBI Civil Appeals against SAT 13.03.2015 decision pending before Supreme Court
• Non-disclosure in second DRHP/RHP/Prospectus of subsidiaries Sudipti, Shalika, Felicite and related KKS FIR/complaint, allegedly misleading IPO investors.
  Impugned WTM order dated 10.10.2014 restrained DLF Ltd and 6 individuals from accessing securities market for 3 years · Prohibited from buying, selling and otherwise dealing in securities directly or indirectly for 3 years
  Appeal: Appeal No. 331 of 2014 with Appeal Nos. 392-396 of 2014 and 415 of 2014, reserved 06.02.2015, decided 13.03.2015
• Alleged violation of SEBI Act and regulations as held by AO imposing varying penalties, on same facts as WTM order dated 10.10.2014; specifics not detailed in this order.
  Appeals and Misc. Application No. 187 of 2016 disposed without going into merits · Appeals and Intervention Application shall stand automatically revived once Apex Court disposes SEBI Civil Appeals against SAT decision dated 13.03.2015
  Appeal: SEBI Civil Appeals against SAT majority decision dated 13.03.2015 pending before Supreme Court; SAT appeals disposed with automatic revival on Supreme Court disposal
• Violation of SEBI Act and regulations framed thereunder as held in WTM order dated 10.10.2014, same set of facts forming basis for AO penalty orders.
  Appeals and Intervention Application disposed without going into merits · Appeals and Intervention Application shall stand automatically revived once Apex Court disposes Civil Appeals against SAT decision dated 13.03.2015
  Appeal: Appeal Nos. 193-199, 206, 208, 209, 217, 225, 226 of 2015 disposed on 25.04.2018; Civil Appeals filed by SEBI against SAT majority decision dated 13.03.2015 pending before Supreme Court
• Alleged violation of SEBI Act and regulations framed thereunder on same facts as WTM order dated 10.10.2014.
  All appeals and Misc. Application No.187 of 2016 disposed without going into merits · Appeals and intervention shall stand automatically revived after Apex Court decides SEBI civil appeals
  Appeal: SEBI civil appeals against SAT majority decision dated 13.03.2015 pending before Supreme Court; present appeals to revive after disposal
• Alleged non-disclosure in second DRHP/RHP/Prospectus of Sudipti, Shalika, Felicite as subsidiaries/associates and related transactions/complaints, deceiving IPO investors.
  Restrained from accessing securities market for 3 years vide WTM order · Prohibited from buying, selling and otherwise dealing in securities directly or indirectly for 3 years
  Appeal: Appeal No. 331 of 2014 (lead) with Nos. 392-396 and 415 of 2014; reserved 06.02.2015, decided 13.03.2015
• Alleged failure to make complete and truthful disclosures in DLF’s IPO offer documents, including disclosure of subsidiaries, associate companies and litigation/claims involving Sudipti and related entities.
  Appeals were heard together, with Appeal No. 331 of 2014 treated as the lead case; the extracted text does not contain the final operative disposal.
  Appeal: Appeal Nos. 331, 392, 393, 394, 395, 396 and 415 of 2014 were heard together; decision dated 13 March 2015. Final disposal is not included in the extracted text.
• Alleged violation of SEBI Act and regulations framed thereunder on same set of facts as WTM order dated 10 Oct 2014 against DLF group; specifics not detailed in present order.
  Appeals No. 193-199, 206, 208, 209, 217, 225, 226 of 2015 and Misc. Application No. 187 of 2016 disposed of without going into merits · Appeals and Intervention Application shall stand automatically revived once Apex Court disposes Civil Appeals against Tribunal decision 13 Mar 2015
  Appeal: Civil Appeals filed by SEBI against SAT majority decision dated 13 March 2015 pending before Apex Court (numbers not stated in order)
• Alleged violation of SEBI Act and regulations on same facts as WTM order dated 10.10.2014 against DLF group entities and individuals.
  Appeals and Intervention Application disposed without going into merits · Appeals and Intervention Application shall stand automatically revived once Apex Court disposes Civil Appeals against SAT decision dated 13.03.2015
  Appeal: Civil Appeals filed by SEBI against SAT majority decision dated 13.03.2015 pending before Supreme Court; numbers and dates not stated
• Alleged violation of SEBI Act and regulations framed thereunder on same set of facts as WTM order dated 10.10.2014
  All appeals and Intervention Application disposed without going into merits · Appeals and Intervention Application shall stand automatically revived once Apex Court disposes Civil Appeals against SAT decision dated 13.03.2015
  Appeal: Civil Appeals filed by SEBI against SAT majority decision dated 13.03.2015 pending before Apex Court
• Non-disclosure in second DRHP/RHP/Prospectus of subsidiaries Sudipti, Shalika, Felicite and related KKS complaint/FIR, depriving investors of material information for IPO decision.
  Impugned WTM order restrained company, six directors and CFO from accessing securities market for 3 years · Prohibited from buying, selling and otherwise dealing in securities directly or indirectly for 3 years
• Non-disclosure in second DRHP/RHP/Prospectus of subsidiaries/associates Sudipti, Shalika, Felicite and related KKS complaint/FIR, misleading IPO investors.
  Impugned WTM order restrained DLF and six directors/CFO from accessing securities market for 3 years · Prohibited from buying, selling and otherwise dealing in securities directly or indirectly for 3 years
• Alleged violation of SEBI Act and regulations on same facts as WTM order dated 10.10.2014, leading to varying AO penalties.
  All appeals and Misc. Application No. 187 of 2016 disposed without going into merits · Appeals and Intervention Application to stand automatically revived on Supreme Court disposal of SEBI Civil Appeals
  Appeal: SEBI Civil Appeals against SAT majority decision dated 13.03.2015 pending before Supreme Court; SAT disposed present appeals on 25.04.2018 with automatic revival on SC disposal