P.G. Electroplast Ltd.

4 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Impugned SEBI order 11 Mar 2014 barred appellants from raising capital/dealing in securities market for ten years
Impugned SEBI order dated 11 March 2014 barred appellants from raising capital and dealing in securities for ten years and directed recall of unrecovered moneys with report to SEBI; SAT final findings beyond excerpt
Impugned SEBI order dated March 11, 2014 barred appellants from raising capital and dealing in securities market for ten years
Interim ex-parte order dated December 28, 2011 directed recall of Rs 32 crore ICDs and deposit in escrow account

SAT-appeal

Inadequate or non-disclosure in the IPO offer documents concerning bridge-loan ICD agreements, the 17 August 2011 board resolution, and land-purchase agreements; diversion of IPO proceeds and funds was also alleged.
Appeal against the AO order was considered; the Tribunal applied its earlier findings on the same issues. · Earlier findings that appellants were not guilty of PFUTP violations and that disclosure deficiencies were largely technical were relied upon.
Appeal: Appeal No. 281 of 2017, decided by SAT on 2 August 2019; the excerpt does not state the operative final disposal of the appeal.
Non-disclosure of material info in IPO offer documents and diversion of IPO proceeds/ICDs via connected entities to fund IPO subscription and create artificial volume/price.
Impugned SEBI order 11 Mar 2014 barred appellants from raising capital/dealing in securities market for ten years · Directed appellant to recall all unrecovered moneys and submit report to SEBI
Non-disclosure of material information in RHP/Prospectus and diversion of IPO proceeds via ICDs, advances and land deals to entities that subscribed to IPO to ensure subscription and create artificial volume/price.
Impugned SEBI order dated 11 March 2014 barred appellants from raising capital and dealing in securities for ten years and directed recall of unrecovered moneys with report to SEBI; SAT final findings beyond excerpt
Appeal: Appeal Nos. 144, 147, 159, 183, 184 of 2014 with Misc. Application No. 343 of 2015 before SAT, heard 24.06.2016, decided 30.08.2016 challenging SEBI order 11.03.2014
Non-disclosure of material information in IPO offer documents and diversion of IPO proceeds via ICDs, land deals and raw-material advances to fund IPO subscription and create artificial volume/price.
Impugned SEBI order dated March 11, 2014 barred appellants from raising capital and dealing in securities market for ten years · Appellant directed to recall all moneys not recovered till March 11, 2014 and submit report to SEBI

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Source: SecMarx — P.G. Electroplast Ltd.. 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.