Mr. S. A. S. Bajwa

2 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Present directors to ensure compliance and furnish peer-reviewed CA certificate with evidence
Company restrained from securities market for 5 years from date of WTM order
Directors restrained 1-3 years: Ranjit 2y, Inder Pratap 3y, others 1y
Directors to ensure compliance and furnish peer-reviewed CA certificate with evidence
Company restrained 5 years; directors restrained 1-3 years from securities market

SAT-appeal

Fraudulent GDR issue with non-disclosure of Account Charge/Pledge Agreement, single-entity subscription by Seazun and diversion of USD 2.27 million proceeds.
Appeals dismissed with no costs; WTM order dated 31 January 2020 upheld · Company to bring back USD 2.27 million diverted to Seazun into India bank account
Appeal: Appeal No. 256 of 2020 and Appeal No. 532 of 2020 with Misc. Application No. 285 of 2020 dismissed/decided on 31.08.2021, hearing on 24.08.2021
Non-disclosure of Account Charge/Pledge Agreement and sole subscription by Seazun with diversion of USD 2.27 million GDR proceeds, constituting fraud on investors.
Appeals dismissed with no order as to costs; WTM directions confirmed · Company to bring back USD 2.27 million diverted to Seazun into India bank account
Appeal: Appeal Nos. 256 of 2020 and 532 of 2020 with Misc. Application No. 285 of 2020 dismissed on 31.08.2021

Analyse these matters in Ontology · Plans

Source: SecMarx — Mr. S. A. S. Bajwa. 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.