Vinod Kumar Khurana

SAT-appeal

• SAT matter SATV-09F9CCF4C36309E0276735BC
  Miscellaneous Application No. 3 of 2017 allowed to be withdrawn · No order as to costs
  Appeal: Miscellaneous Application No. 3 of 2017 in Appeal No. 157 of 2015 withdrawn on 23 March 2017; disposal recorded with no order as to costs
• SAT matter SATV-6469FCAE74058A9C7A48D5F5
  Urgency Application No. 191 of 2020 allowed · Connected with Appeal Lodging No. 198 of 2020 Kalpana Gupta vs SEBI
  Appeal: Appeal Lodging No. 202 of 2020 with Misc. Applications 191-192 of 2020 - urgency allowed, connected, order reserved on 21.07.2020
• India Business Centre project at Gurgaon alleged to be unregistered Collective Investment Scheme operated without registration under Section 12(1B) SEBI Act.
  abstain from collecting any money from investors · wind up existing CIS
  Appeal: Appeal Nos. 157 of 2015, 158 of 2015, 21 of 2021, 22 of 2021 with Misc. Applications heard 08.07.2022, decided 03.01.2023
• India Business Centre Gurgaon project held as unregistered Collective Investment Scheme collecting money under assured-return without Section 12(1B) registration.
  Abstain from collecting money from investors · Wind up existing CIS and refund monies collected within three months
  Appeal: Appeal Nos. 157/2015, 158/2015, 21/2021, 22/2021 against WTM order 19 Dec 2014; heard 08.07.2022, decided 03.01.2023
• MVL Limited’s India Business Centre scheme was held by SEBI to constitute a Collective Investment Scheme; failure to refund investor monies led to recovery and attachment proceedings.
  Appeals against the recovery certificates and bank/demat attachment notices were dismissed at the admission stage. · Recovery certificate for Rs. 65,93,37,925 and related attachment notices were not stayed.
  Appeal: Appeal Nos. 151 and 152 of 2020 dismissed on 23 July 2020; underlying Appeal No. 157 of 2015 was restored on 3 January 2020 and remained pending.
• SAT matter SATV-64A8EB20FE394FFABF732AC3
  Appeal No.157 of 2015 and Misc. Application No.230 of 2015 dismissed for want of prosecution
• India Business Centre (IBC) Gurgaon project offering IT spaces under assured return plan held as unregistered Collective Investment Scheme under Sec 11AA without Sec 12(1B) registration.
  Abstain from collecting any money from investors · Wind up existing CIS
  Appeal: Appeal No.157 of 2015, 158 of 2015, 21 of 2021, 22 of 2021 with Misc. Applications against WTM order dated 19 Dec 2014; Hearing 08.07.2022, Decision 03.01.2023
• MVL Limited's India Business Centre (IBC) project held as unregistered Collective Investment Scheme collecting money from investors in violation of CIS norms.
  Held Recovery Officer not barred from recovery despite pending Appeal No.157 of 2015 absent complete stay · Held interim order dated 18.03.2015 extended refund time only till 01.07.2015 and was never complied
  Appeal: SAT Appeal Nos.151 and 152 of 2020 with Misc.Appl.184,185,192 of 2020 against recovery/attachment dated 10.06.2020; reserved 16.07.2020 decided 23.07.2020; main Appeal No.157 of 2015 vs WTM order 19.12.2014 restored 03.01.2020 and still pending