Mr. Rishabh Kumar Jain

SAT-appeal

• SAT matter SATV-0C983CC157202584A931CB9D
  Order reserved for delivery on 30 September 2022 · All concerned parties directed to act on the digitally signed copy
  Appeal: Appeal Nos. 604, 605, 606, 607 and 608 of 2022 were heard; order reserved on 27 September 2022 for delivery on 30 September 2022
• Fraudulent GDR scheme where GDR proceeds were pledged with EURAM Bank to fund sole subscriber Vintage FZE, with non-disclosure of pledge/loan agreements and misleading announcement that issue was fully subscribed.
  AO penalty of Rs. 10.25 crores on Texmo Pipes under Section 15HA SEBI Act and Section 23E SCRA under challenge in Appeal No.608 of 2022 · AO penalty of Rs.20 lakh each on Sanjay Kumar Agrawal and Vijay Prasad Pappu under Section 15HA under challenge
• Fraudulent GDR scheme where GDR proceeds were pledged with EURAM Bank to fund sole subscriber Vintage FZE, with non-disclosure of pledge/loan agreements and misleading fully-subscribed announcement.
  AO penalties recorded: Rs 10.25 cr on Company; Rs 20 lakh each on Agrawal and Pappu; Rs 10 lakh on Badera; Rs 2 lakh on Jain · Tribunal observed non-disclosure of pledge/loan agreements was fraudulent and misleading; final SAT operative part truncated beyond para 17
  Appeal: Appeal Nos. 604, 605, 606, 607, 608 of 2022 with Misc. Applications 782-786 of 2022; reserved 27.09.2022, date of decision 30.09.2022 against AO order dated 28.06.2022
• SAT matter SATV-9B0B2845A3A8DC4CE7569AB4
  Heard counsel for parties; order reserved to be delivered on September 30, 2022 · Parties to act on digitally signed copy; certified copy available from Registry on payment
  Appeal: Appeal Nos. 604-608 of 2022 with Misc. Applications 782-786 of 2022 heard on 27.09.2022; order reserved for 30.09.2022, not disposed
• Fraudulent GDR scheme where GDR proceeds pledged with EURAM Bank to fund sole subscriber Vintage FZE, with non-disclosure of pledge/loan agreements and misleading announcement that issue was fully subscribed.
  AO penalty of Rs.10.25 crore on Texmo Pipes under Sec 15HA SEBI Act and Sec 23E SCRA · AO penalty of Rs.20 lakh each on Sanjay Kumar Agrawal and Vijay Prasad Pappu under Sec 15HA
  Appeal: Appeal Nos.604,605,606,607,608 of 2022 with Misc Applications 782-786 of 2022 against AO order dated June 28, 2022; SAT reserved 27.09.2022, decided 30.09.2022
• Fraudulent GDR scheme where GDR proceeds were pledged with EURAM Bank to fund sole subscriber Vintage FZE, with non-disclosure of pledge/loan agreements and misleading fully-subscribed announcement.
  Rs 10.25 crores penalty on Texmo Pipes under Sec 15HA SEBI Act and Sec 23E SCRA · Rs 20 lakh penalty each on Sanjay Kumar Agrawal and Vijay Prasad Pappu under Sec 15HA
  Appeal: Appeal Nos 604,605,606,607,608 of 2022 with Misc Apps 782-786 of 2022 against AO order 28.06.2022; reserved 27.09.2022, decision 30.09.2022; final SAT disposal truncated
• Fraudulent GDR scheme: pledged GDR proceeds with EURAM Bank to fund sole subscriber Vintage FZE, non-disclosure of pledge/loan agreements and misleading fully-subscribed announcement violating SEBI Act, PFUTP and Listing Agreement.
  AO order Jun 28, 2022 imposed Rs 10.25 cr on Texmo Pipes under Sec 15HA SEBI Act and Sec 23E SCRA · AO imposed Rs 20 lakh each on Sanjay Kumar Agrawal and Vijay Prasad Pappu under Sec 15HA
  Appeal: Appeal Nos. 604, 605, 606, 607, 608 of 2022 with Misc. Applications 782-786 of 2022 against AO order Jun 28, 2022; reserved Sep 27, 2022, decision Sep 30, 2022