PNB Finance and Industries Ltd.

SAT-appeal

• SAT matter SATV-0491EE5396EA9565E2E73AEA
  SEBI’s delayed reply was taken on record after condoning the delay. · Appellants directed to file rejoinder to Kolkata Stock Exchange’s reply within three weeks.
  Appeal: Appeal Nos. 371 to 383 of 2023 were pending; listed for 2 November 2023 by order dated 8 September 2023.
• SAT matter SATV-05DE6A9CFAB553034D6514C5
  Speaking-to-the-minutes applications were filed and necessary corrections were made to the SAT order dated 26 April 2023. · In paragraph 7, the word 'limited' was corrected to 'listed'.
  Appeal: Appeal Nos. 371 to 383 of 2023 were before SAT; this order dated 28 April 2023 records corrections to the order dated 26 April 2023.
• SAT matter SATV-0E413EC3D24E1E68B61C8D73
  All listed appeals were directed to be listed for admission on 26 April 2023.
  Appeal: Appeal Nos. 371 to 383 of 2023 were listed for admission on 26 April 2023; no disposal on merits stated.
• Whether the noticees controlled PNB Finance and Industries Ltd. without disclosing themselves as promoters or persons in control, acted in concert, and whether the companies complied with minimum public shareholding requirements.
  Effect and operation of the impugned SEBI orders stayed during pendency of the appeals, subject to deposit of 25% of the penalty amount. · Balance penalty not to be recovered during pendency of the appeals upon compliance.
  Appeal: Appeal Nos. 371 to 383 of 2023 before SAT; order dated 26 April 2023 granted interim stay and listed matters for final disposal on 3 July 2023
• SAT matter SATV-1B713DE563F035870FED809C
  Matters adjourned due to non-availability of the bench · Listed on 22 February 2024
  Appeal: Appeal Nos. 371 to 383 of 2023 were adjourned on 10 January 2024 and listed on 22 February 2024
• SAT matter SATV-20E1DAF998EF04A2BD77434C
  Appeals adjourned on appellants' counsel's request · Matters listed for 8 September 2023
  Appeal: Appeal Nos. 371 to 383 of 2023 and connected miscellaneous applications were adjourned on 20 July 2023 and listed for 8 September 2023.
• SAT matter SATV-22CBA6B387D7ECEC7D5F2EB7
  Matters adjourned due to non-availability of the bench · Listed for 22 February 2024
  Appeal: Appeal Nos. 371 to 383 of 2023 were adjourned on 10 January 2024 and listed on 22 February 2024; no disposal recorded
• SAT matter SATV-1A3E449161FA6A7AF626482C
  Matters adjourned at the request of appellants' counsel. · Listed for 8 September 2023.
  Appeal: Appeal Nos. 371 to 383 of 2023 were adjourned on 20 July 2023 and listed for 8 September 2023; no disposal on merits stated.
• Alleged undisclosed control/promoter status and acting in concert in relation to PNB Finance and Industries Ltd.; alleged non-compliance with minimum public shareholding requirements.
  Effect and operation of the impugned orders stayed during pendency of the appeals, subject to deposit of 25% of penalty by cash or bank guarantee. · Balance penalty not to be recovered during pendency upon compliance.
  Appeal: Appeal Nos. 371 to 383 of 2023 were admitted for consideration; final disposal listed for 3 July 2023. Interim stay granted on 26 April 2023.
• SAT matter SATV-31AB6549BC8D4154E3C1BA7F
  All listed appeals and connected miscellaneous applications were adjourned due to non-availability of the bench. · Matters listed for 22 February 2024.
  Appeal: Appeal Nos. 371 to 383 of 2023 were adjourned on 10 January 2024 due to non-availability of the bench; listed on 22 February 2024.
• SAT matter SATV-279A19B71E8C29E211FBE65E
  Matters adjourned due to non-availability of the bench · List all connected appeals and applications on 22 February 2024
  Appeal: Appeal Nos. 371 to 383 of 2023 were adjourned on 10 January 2024 and listed for 22 February 2024; no disposal on merits stated
• SAT matter SATV-2FB02F6471DE9219BEECF6A0
  Matters were not on board and were mentioned before the Tribunal. · List all matters on the date already fixed, 3 July 2023.
  Appeal: Appeal Nos. 373 to 383 of 2023 were mentioned; the matters were directed to be listed on 3 July 2023. No disposal on merits.
• SAT matter SATV-421BB8BCB70CD3746DC6EC04
  Adjourned on request of learned counsel for appellants · List on September 8, 2023
  Appeal: Appeal Nos. 371 to 383 of 2023 pending before SAT; adjourned on 20.07.2023 to September 8, 2023
• Alleged undisclosed control of PNB Finance and Industries Ltd. by noticees as promoters/persons in control acting in concert, with Jain family holding 91.51% via other companies and MPS non-compliance.
  Effect and operation of impugned WTM and CSE orders stayed during pendency subject to deposit · Appellants to deposit 25% of penalty by cash or Bank guarantee to SEBI satisfaction; balance not to be recovered
  Appeal: Appeal Nos. 371,372,373,374,375,376,377,378,379,380,381,382,383 of 2023 pending; interim stay granted 26 April 2023; listed for admission and final disposal on 3 July 2023
• SAT matter SATV-5016DB03997737322B051C22
  Adjourned due to non-availability of bench · List on February 22, 2024
  Appeal: Appeal Nos. 371 to 383 of 2023 adjourned on 10.01.2024; next listing February 22, 2024
• SAT matter SATV-30F0EC06E6205CEBB4D5EB88
  Adjourned on request of learned counsel for appellant · Matter listed on September 8, 2023
  Appeal: Appeal Nos. 371 to 383 of 2023 with Misc. Applications 828-832 of 2023 pending; adjourned vide order dated 20.07.2023 to 08.09.2023
• SAT matter SATV-53BC629B9EC52B2FD319A8E1
  Delay in filing reply by SEBI condoned and reply taken on record · Appellants to file reply in rejoinder to Kolkata Stock Exchange reply within three weeks
  Appeal: Appeal Nos. 371 to 383 of 2023 pending before SAT; not disposed, adjourned to 02.11.2023
• SAT matter SATV-4AE3C226AA1BE2B3F45F282F
  Delay in filing reply by SEBI condoned and reply taken on record · Appellant to file rejoinder to Kolkata Stock Exchange reply within three weeks
  Appeal: Appeal Nos. 371 to 383 of 2023 pending before SAT; adjourned to November 2, 2023
• Alleged control of PNB Finance and Industries Ltd. by noticees/Jain family without disclosing as promoters/persons in control, acting in concert, and failure to comply with MPS requirement.
  Effect and operation of impugned orders stayed during pendency of appeal subject to deposit · Appellants to deposit 25% of penalty by cash or Bank guarantee to SEBI satisfaction
  Appeal: Appeal Nos. 371-383 of 2023 pending; SAT stayed impugned orders on 26 April 2023; listed for admission and final disposal on 3 July 2023
• SAT matter SATV-65C398F373D545FC7B6484E1
  List all appeals for admission on April 26, 2023 · Parties to act on digitally signed copy; certified copy available from Registry on payment
  Appeal: Appeal Nos. 371, 372, 373, 374, 375, 376, 377, 378, 379, 380, 381, 382, 383 of 2023 with Misc. Applications Nos. 511-527, 552-553 of 2023 pending; listed for admission on April 26, 2023 vide order dated 21.04.2023; no disposal yet
• SAT matter SATV-74F3FF8550B4ABB621DB2BFF
  Delay in filing reply by SEBI condoned and reply taken on record · Appellants to file reply in rejoinder to Kolkata Stock Exchange reply within three weeks
  Appeal: Appeal Nos. 371 to 383 of 2023 pending before SAT; adjourned to 02.11.2023 vide order dated 08.09.2023
• SAT matter SATV-74CDCAF1457E0ED23096C9D4
  Delay in filing reply by SEBI condoned and reply taken on record · Appellants to file rejoinder to Respondent No.9 reply within three weeks
  Appeal: Appeal Nos. 371 to 383 of 2023 pending before SAT; procedural order dated 08.09.2023, next listing November 2, 2023
• SAT matter SATV-7C516F58C065DB5124645AFA
  Delay in filing reply by SEBI condoned and reply taken on record · Appellant to file rejoinder to Respondent No. 9 reply within three weeks
  Appeal: Appeal Nos. 371 to 383 of 2023 pending before SAT, not disposed on 08.09.2023; next listing on November 2, 2023
• SAT matter SATV-489F9E81EE8D8C3C4E83258D
  Matters adjourned due to non-availability of the bench · Listed for hearing on 22 February 2024
  Appeal: Appeal Nos. 371 to 383 of 2023 were adjourned on 10 January 2024 and listed for 22 February 2024
• SAT matter SATV-3A861EB9912037A5750EC849
  Appeals adjourned on appellants' request. · List the matters on 8 September 2023.
  Appeal: Appeal Nos. 371 to 383 of 2023 were adjourned on 20 July 2023 and listed for 8 September 2023; no disposal on merits stated.
• SAT matter SATV-A508C79EA5B8AD11E8944CAB
  List all matters on 21 April 2023 due to non-availability of Bench · Parties to act on digitally signed copy of order signed by Private Secretary on behalf of bench
  Appeal: Appeal Nos. 371 to 383 of 2023 pending before SAT Mumbai with connected Misc. Applications; adjourned to 21 April 2023, no disposal on merits
• SAT matter SATV-A9E8C68F13D825219659B230
  List all appeals (Nos. 371-383 of 2023) for admission on April 26, 2023 · Parties to act on digitally signed copy; certified copy available from Registry on payment
  Appeal: Appeal Nos. 371, 372, 373, 374, 375, 376, 377, 378, 379, 380, 381, 382, 383 of 2023 with connected Misc. Applications vs SEBI & Ors., listed for admission on April 26, 2023 vide order dated 21.04.2023; not disposed
• SAT matter SATV-4AEB419B12BB44F15CC0FBF9
  SEBI's delayed reply was taken on record after condoning the delay · Appellants directed to file rejoinder to Kolkata Stock Exchange's reply within three weeks
  Appeal: Appeal Nos. 371 to 383 of 2023 were pending; listed for 2 November 2023
• SAT matter SATV-BD0D19EEA613B1C83237B0D4
  Delay in filing reply by SEBI condoned and reply taken on record · Appellants permitted to file rejoinder to Kolkata Stock Exchange reply within three weeks
  Appeal: Appeal Nos. 371, 372, 373, 374, 375, 376, 377, 378, 379, 380, 381, 382, 383 of 2023 pending before SAT; adjourned to 02.11.2023
• SAT matter SATV-DBAD575308DF3E0590F651D1
  Matter listed on July 22, 2024 with consent of parties · Respective advocates to file short written submissions in the meanwhile
  Appeal: Appeal Nos. 371 to 383 of 2023 pending before SAT; adjourned to July 22, 2024
• Alleged undisclosed control of PNB Finance and Industries Ltd. by Jain family individuals/entities as promoters/persons in control acting in concert and failure to meet minimum public shareholding.
  Stay of effect and operation of impugned WTM and CSE orders during pendency of appeals · Conditional stay subject to appellants depositing 25% of penalty via cash or bank guarantee
  Appeal: Appeal Nos.371-383 of 2023 against WTM orders dated 28-29 March 2023 pending; operation stayed conditionally; next hearing 3 July 2023
• SAT matter SATV-E56E1E2EB3147474256D2930
  Adjourned on request of learned counsel for appellant · List on September 8, 2023
  Appeal: Appeal Nos. 371-383 of 2023 with Misc. Applications 828-832 of 2023 adjourned on 20.07.2023, next listed September 8, 2023; not disposed
• SAT matter SATV-4231AE5FBE811038A558743F
  Matters adjourned on appellants' request · List all matters on 8 September 2023
  Appeal: Appeal Nos. 371 to 383 of 2023 were adjourned on 20 July 2023 and listed for 8 September 2023; no disposal on merits stated
• SAT matter SATV-F79C0AC71FF92C383341A471
  Delay in filing reply by SEBI condoned and reply taken on record · Appellants to file rejoinder to Calcutta Stock Exchange reply within three weeks
  Appeal: Appeal Nos. 371, 372, 373, 374, 375, 376, 377, 378, 379, 380, 381, 382, 383 of 2023 pending before SAT; adjourned to 02.11.2023
• SAT matter SATV-FEC471E6E8E54FEF2BFFB9B5
  Adjourned on request of learned counsel for the appellant · Matter listed on September 8, 2023; respondent may file reply on or before next date
  Appeal: Appeal Nos. 371 to 383 of 2023 with Misc. Applications 828-832 of 2023 pending; adjourned to September 8, 2023
• Alleged undisclosed control and promoter status over PNB Finance and Industries Ltd., acting in concert, and non-compliance with minimum public shareholding requirements.
  Effect and operation of the impugned orders stayed during appeal subject to deposit of 25% of penalty · Balance penalty not to be recovered during appeal after compliance
  Appeal: Appeal Nos. 371 to 383 of 2023 were pending before SAT; order dated 26 April 2023 directed listing for admission and final disposal on 3 July 2023.
• SAT matter SATV-566DF2E13DED1355586B704C
  All listed appeals were directed to be listed for admission on 26 April 2023. · Parties were directed to act on the digitally signed order.
  Appeal: Appeal Nos. 371 to 383 of 2023 were listed for admission on 26 April 2023; no disposal on merits stated.
• Alleged undisclosed control of PNB Finance and Industries Ltd as promoters/persons in control acting in concert and failure to comply with MPS requirement.
  SEBI to file reply within four weeks; rejoinder within four weeks thereafter · Effect and operation of impugned orders stayed during pendency subject to 25% penalty deposit
  Appeal: Appeal Nos. 371-383 of 2023 against WTM orders dated 28-29 March 2023 and CSE order 31 March 2023 pending; operation stayed on 26 April 2023; next hearing 3 July 2023
• Alleged control of PNB Finance and Industries Ltd. without disclosing as promoters/persons in control, acting in concert, and failure to meet minimum public shareholding.
  Respondent to file reply within four weeks; rejoinder within four weeks thereafter · Effect and operation of impugned orders stayed during pendency subject to 25% penalty deposit
  Appeal: Appeal Nos. 371-383 of 2023 filed; stayed on 26 April 2023 subject to 25% deposit; listed for final disposal on 3 July 2023
• Alleged undisclosed control of PNB Finance and Industries Ltd by Jain family as promoters/persons in control acting in concert and failure to meet minimum public shareholding.
  Effect and operation of impugned orders stayed during pendency subject to 25% penalty deposit · Upon compliance balance penalty not to be recovered during pendency of appeal
  Appeal: Appeal Nos.371-383 of 2023 filed; operation stayed during pendency subject to deposit; listed for admission and final disposal on 3 July 2023
• SAT matter SATV-95C89A78B31D5800733C9319
  Part heard; matter listed for further hearing
  Appeal: Appeal Nos. 371 to 383 of 2023 part-heard on 13.08.2025; next hearing on 11.09.2025 and 12.09.2025
• Alleged undisclosed control of PNB Finance and Industries Ltd. by Jain family noticees as promoters/persons in control acting in concert and failure to comply with MPS requirement.
  Stay of effect and operation of impugned orders during pendency subject to 25% penalty deposit · SEBI to keep deposited amount in interest bearing account subject to appeal result
  Appeal: Appeal Nos. 371-383 of 2023 with Misc. Applications admitted on 26.04.2023; operation stayed conditionally; pending for final hearing on 03.07.2023
• SAT matter SATV-A634C313068E6D045C63782D
  Matter called and listed for hearing from 10.08.2026 to 13.08.2026
  Appeal: Appeal Nos. 371 to 383 of 2023 pending before SAT; adjourned vide order dated 08.07.2026, next listed 10.08.2026 to 13.08.2026
• SAT matter SATV-AA0E06E2738471F5347C9215
  Heard in part; listed for further hearing on 05.05.2025 at 10:30 a.m.
  Appeal: Appeal Nos. 371 to 383 of 2023 heard in part on 16.04.2025, adjourned to 05.05.2025; not disposed
• Alleged undisclosed control of PNB Finance and Industries Ltd by Jain family entities as promoters/persons in control acting in concert, holding 91.51% and breaching MPS norms.
  Effect and operation of impugned WTM and CSE orders stayed during pendency subject to deposit · Accounts frozen pursuant to impugned orders to be lifted forthwith on compliance
  Appeal: Appeal Nos. 371-383 of 2023 filed; SAT order dated 26 April 2023 grants conditional stay and lists appeals for admission and final disposal on 3 July 2023
• SAT matter SATV-C064CBB4D9BEB64D5F0D151A
  Delay in filing reply by SEBI condoned and reply taken on record · Appellants to file reply in rejoinder to Kolkata Stock Exchange within three weeks
  Appeal: Appeal Nos. 371, 372, 373, 374, 375, 376, 377, 378, 379, 380, 381, 382, 383 of 2023 pending; adjourned to 02.11.2023 vide order dated 08.09.2023
• SAT matter SATV-BA0837A1496D4A7696BC3569
  List / adjourned to 21 April 2023 due to non-availability of Bench · Parties to act on digitally signed copy; certified copy available from Registry on payment
  Appeal: Appeal Nos. 371-383 of 2023 with Misc. Applications Nos. 511-527, 552-553 of 2023 pending; adjourned to 21 April 2023, no disposal
• Alleged control of PNB Finance and Industries Ltd. by Jain family without disclosing as promoters/persons in control, acting in concert, violating MPS norms.
  Effect and operation of WTM orders and CSE order stayed during pendency of appeals · Appellants to deposit 25% of penalty by cash or Bank guarantee within four weeks; balance not to be recovered
  Appeal: Appeal Nos.371-383 of 2023 against WTM orders 28-29 March 2023 and CSE order 31 March 2023 - pending; operation stayed on 26 April 2023; next date 3 July 2023
• SAT matter SATV-E0953250BA382D45AA879A1C
  Delay in filing reply by SEBI condoned and reply taken on record · Appellants to file rejoinder to Respondent No.9 reply within three weeks
  Appeal: Appeal Nos. 371, 372, 373, 374, 375, 376, 377, 378, 379, 380, 381, 382, 383 of 2023 pending; adjourned to 02.11.2023 with connected Misc. Applications
• Alleged undisclosed control of PNB Finance and Industries Ltd. as promoters/persons in control acting in concert and failure to comply with minimum public shareholding requirement.
  Effect and operation of impugned orders stayed during pendency subject to 25% penalty deposit · Balance penalty not to be recovered during pendency upon compliance
  Appeal: Appeal Nos.371 to 383 of 2023 filed; SAT order dated 26 April 2023 grants conditional stay, not final disposal; next hearing 3 July 2023
• SAT matter SATV-E96D049E841EFFCFBAF21196
  Heard in part; listed for further hearing on 13.10.2025 and 14.10.2025
  Appeal: Appeal Nos. 371 to 383 of 2023 pending before SAT; heard in part on 11.09.2025, adjourned for further hearing