National Securities Depository Ltd.

SAT-appeal

• SAT matter SATV-0A2180142F50E907B0B6C701
  List Miscellaneous Application No. 385 of 2023 and Appeal No. 348 of 2023 on 8 September 2023 · Parties directed to act on the digitally signed copy of the order
  Appeal: Appeal No. 348 of 2023 listed on 8 September 2023; no disposal on merits stated
• SAT matter SATV-0A313B3D24FC11D70280D887
  Appeal dismissed for want of prosecution because no one appeared for the appellants.
  Appeal: Appeal No. 803 of 2022 dismissed for want of prosecution on 10 November 2022; Misc. Application No. 1146 of 2022 also listed.
• Alleged failure by NSDL to prevent or detect fictitious/benami demat accounts used to corner retail IPO allotments, monitor DPs, prevent unauthorized outsourcing, maintain adequate controls, verify DP infrastructure and act against non-compliant DPs.
  Appeal No. 68 of 2007 challenged the Adjudicating Officer’s order dated 27 April 2007 imposing a Rs.5 crore penalty on NSDL.
  Appeal: Appeal No. 68 of 2007, decided on 14 January 2009; order states it was heard with and disposed alongside Appeal No. 69 of 2007.
• SAT matter SATV-24B7165A9ADECBA80D62C991
  Appeal dismissed as infructuous after withdrawal of the impugned order · Demat account of the appellant to be defrozen
  Appeal: Appeal No. 616 of 2023 decided and dismissed as infructuous on 18 July 2023
• SAT matter SATV-1E4E473907BD6B5D03582195
  Appeal disposed of with no direction to release the appellant's shares at this stage. · Appellant may demand the shares by refunding the amount paid by NSE, subject to the final outcome of proceedings before the Supreme Court.
  Appeal: Appeal No. 835 of 2023 disposed of by SAT on 19 June 2026; no further disposal stated. Related Supreme Court Civil Appeal Nos. 388-392/2024 remained pending, with status quo noted.
• Non-compliance with SEBI LODR Regulations, resulting in BSE delisting the appellant company's equity shares.
  BSE shall restore the company's listing forthwith. · The company shall maintain continuous compliance with LODR Regulations and applicable laws.
  Appeal: Appeal No. 428 of 2025 disposed of by SAT on 14 July 2026.
• SAT matter SATV-2F0F5A7CAF44FDC67209A8F0
  Appeal disposed of · BSE directed to defreeze the appellants' demat account
  Appeal: Appeal No. 691 of 2024 disposed of by SAT on 12 December 2024; 361-day filing delay condoned
• Unilateral transfer of shares pledged to banks to Karvy clients by SEBI/NSDL without pledgee consent, in violation of Depositories Act and DP Regulations.
  Clarified four weeks from 20 December 2023 applies to Axis Bank and SEBI/NSE/NSDL to implement directions · Misc. Application No. 1681 of 2023 in Appeal No. 35 of 2020 disposed off with no order as to costs
  Appeal: SEBI and NSDL have filed Civil Appeal before Hon'ble Supreme Court against SAT order dated 20 December 2023 - pending
• Challenge to BSE's refusal to defreeze the appellant's beneficial owner account after compulsory delisting of SB & T International Ltd.
  Appeal dismissed without any order as to costs · Parties directed to act on the digitally signed copy of the order
  Appeal: Appeal No. 199 of 2019 dismissed on 25 August 2021; Misc. Application No. 260 of 2019 allowed to condone 161-day delay
• SAT matter SATV-3AA3133E6F6D18FB054D9E15
  Delay in filing SEBI’s reply condoned. · SEBI’s reply taken on record.
  Appeal: Appeal No. 835 of 2023 was adjourned on 13 February 2024 and listed for 17 April 2024; no disposal recorded.
• SAT matter SATV-8E134500E57A376FEB89664C
  Delay of 838 days in Appeal 181 and 846 days in Appeal 182 condoned with no order as to costs · Appeal Nos. 181, 182 and 183 of 2017 disposed as not pressed per SEBI statement
  Appeal: Appeal Nos. 181, 182, 183 of 2017 with Misc Applications 219, 220, 228, 229, 230 of 2017 disposed on 22.08.2017 as not pressed
• HDFC Bank claims priority over Karvy Stock Broking receivables from sale of DP and trading accounts and challenges appropriation by exchanges/depositories without first settling its dues.
  Respondents to file reply on maintainability of appeal · Appellant may file rejoinder thereafter
• SAT matter SATV-4665F15B2076BA2DAB88EE19
  Amendment application allowed; appellant permitted to amend the memorandum of appeal · Appellant directed to serve the amended appeal on all respondents
  Appeal: Appeal No. 255 of 2025 remained pending; amendment allowed on 18 July 2025 and matter listed for 8 September 2025
• Appellant alleges shares in DP Account No. 11458979 withheld by exchange/depositories despite no judicial restraint order.
  Matter adjourned to June 19, 2026 for respondents to complete instructions on claimed judicial restraint
  Appeal: Appeal No. 835 of 2023 pending before SAT; adjourned to June 19, 2026
• Non-compliance of SEBI (LODR) Regulations, 2015 by appellant leading BSE to delist/suspend its equity shares.
  BSE Ltd. shall restore listing of appellant Company forthwith · Appellant shall ensure continuous LODR and other applicable law compliances
  Appeal: Appeal No. 427 of 2025 with Misc. Application No. 1278 of 2025 disposed of on 14 July 2026
• SAT matter SATV-6572A4EF2FD4483B8DEC2CB9
  Appeal No. 267 of 2022 dismissed as infructuous · Appellant left open to pursue remedy before the appropriate forum
  Appeal: Appeal No. 267 of 2022 dismissed as infructuous on 16 June 2022; Miscellaneous Application No. 517 of 2022 disposed of.