Udaksh Kumar Verma
Penalties and directions recorded
- SEBI cannot attach the appellant’s bank accounts for recovery of the refund obligation imposed only on the company and its present directors.
- Adverse observations against Recovery Officer retained
- Costs of Rs 25,000 imposed on 29.08.2017 not recalled
SAT-appeal
- SAT matter SATV-DBCAFB327F50D1242ADA0220Appeal No. 07 of 2017 and Misc. Application No. 07 of 2017 allowed to be withdrawn with liberty to file fresh appeal if RO order prejudicial · Appeal and Misc. Application disposed of with no order as to costsAppeal: Appeal No. 07 of 2017 with Misc. Application No. 07 of 2017 (condonation of delay) disposed on 20.02.2017 as withdrawn with liberty to file fresh appeal
- Vee Realties India Limited operated and mobilized funds through unregistered Collective Investment Schemes, allegedly contravening the SEBI Act, CIS Regulations and PFUTP Regulations.Impugned Recovery Officer communication dated 6 April 2017 set aside insofar as it held the appellant liable to refund investor amounts. · SEBI cannot attach the appellant’s bank accounts for recovery of the refund obligation imposed only on the company and its present directors.Appeal: Appeal No. 134 of 2017 decided on 29 August 2017; impugned Recovery Officer communication set aside insofar as it imposed refund liability on the past director.
Other
- SAT matter SATV-D07EA4565BA9D4BB86AA75BFReview Application No. 4 of 2017 dismissed with no order as to costs · Adverse observations against Recovery Officer retainedAppeal: Review Application No. 4 of 2017 in Appeal No. 134 of 2017 dismissed on 28.09.2017; underlying SAT order dated 29.08.2017 retained
Source: SecMarx — Udaksh Kumar Verma. 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.