Murali Srinivasan Venkatraman

SAT-appeal

• Alleged delayed compliance with disclosure requirements under Regulation 7 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
  Impugned orders in all appeals quashed and set aside · Matters restored to the adjudicating officer for fresh orders on merits and in accordance with law
  Appeal: Appeal Nos. 33, 34, 35, 36 and 37 of 2016 disposed of by SAT on 17 March 2016; impugned orders set aside and matters remanded.
• Delayed disclosure of sale of shares under Takeover Regulations. Inter se transfer of shares among promoters was not disclosed in Form D to the company and stock exchange within the prescribed period.
  Appeals allowed in part. · Penalties under Takeover Regulations, 2011 Regulations 29(2) read with 29(3) quashed and set aside.
  Appeal: Appeal Nos. 363, 364 and 366 of 2017 decided together and allowed in part on 2 July 2019
• Failure to timely disclose sale of shares under Takeover Regulations; failure to timely disclose inter se promoter share transfers and changes in shareholding pattern under PIT Regulations.
  Penalties under Regulations 29(2) read with 29(3) of the Takeover Regulations, 2011 quashed and set aside · Penalties under PIT Regulations 13(3) and 13(4A) read with 13(5) affirmed
  Appeal: Appeal Nos. 363, 364 and 366 of 2017 decided together and partly allowed on 2 July 2019
• Alleged delay in complying with disclosure requirements under Regulation 7 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
  Impugned orders in all appeals quashed and set aside · Matters restored to the adjudicating officer for fresh orders on merits and in accordance with law
  Appeal: Appeal Nos. 33, 34, 35, 36 and 37 of 2016 disposed of on 17 March 2016; impugned orders set aside and matters remanded.
• Alleged delay in complying with disclosure requirements under Regulation 7 of SAST Regulations, 2011
  Impugned adjudication order in all appeals quashed and set aside · Matters restored to file of adjudicating officer for fresh order on merits and in accordance with law
  Appeal: Appeal Nos. 33, 34, 35, 36 and 37 of 2016 disposed on 17.03.2016 with no order as to costs
• Sale of scrips not disclosed within stipulated time under SAST Reg 29 and inter se promoter share transfers not disclosed in Form D to company and exchange under PIT Reg 13, disclosed only belatedly.
  Appeals allowed in part · Penalties under Reg 29(2) r/w 29(3) SAST 2011 quashed and set aside
  Appeal: Appeal Nos. 363, 364 and 366 of 2017 disposed on 02.07.2019, allowed in part
• Alleged delay in complying with disclosure requirements under Regulation 7 of SAST Regulations, 2011
  Impugned adjudication order in all appeals quashed and set aside · Matters restored to adjudicating officer for fresh order on merits and in accordance with law
  Appeal: Appeal Nos. 33, 34, 35, 36 and 37 of 2016 disposed of on 17.03.2016 by consent remand
• Alleged delay in complying with Regulation 7 of SEBI (SAST) Regulations, 2011 regarding disclosures
  Impugned adjudicating officer order in all appeals quashed and set aside · Matters restored to file of adjudicating officer for fresh order on merits and in accordance with law
  Appeal: Appeal Nos. 33, 34, 35, 36 and 37 of 2016 disposed of on 17.03.2016 by consent remand to adjudicating officer