Pratik Minerals Pvt. Ltd.

SAT-appeal

• Aiding and abetting a fraudulent scheme involving misleading corporate announcements, off-market transfers and market sales of Platinum Corporation shares; inaccurate shareholding disclosures and failure to make a mandatory open offer.
  Appeal: Appeal Nos. 303 of 2016, 306 of 2016, 374 of 2017, 375 of 2017, 376 of 2017, 62 of 2018 and 79 of 2018 challenging SEBI WTM order dated 12 August 2016; decision dated 28 June 2018
• Aiding and abetting a fraudulent scheme involving misleading corporate announcements, off-market transfer and market sale of promoter shares, false shareholding disclosures, fraudulent preferential allotment and failure to make an open offer.
  Appeals challenging the WTM order dated August 12, 2016 were heard together. · The WTM order imposed restraint from dealing in the securities market, disgorgement of unlawful gains and open-offer directions, as applicable to the entities.
  Appeal: Appeal Nos. 303 and 306 of 2016, 374 to 376 of 2017, 62 and 79 of 2018; decision dated 28 June 2018; order reserved 24 April 2018
• Aiding and abetting a fraudulent scheme involving misleading corporate announcements, off-market transfer and market sale of promoter shares, fraudulent preferential allotment, misleading shareholding disclosures and failure to make an open offer.
  Appeals challenged the WTM order dated 12 August 2016; the extract does not contain the final operative decision on the appeals.
  Appeal: Appeal Nos. 303 and 306 of 2016, 374-376 of 2017, and 62 and 79 of 2018 were heard together; order dated 28 June 2018. Final disposal outcome is not included in the supplied extract.
• Aiding and abetting fraudulent scheme by Platinum Corporation Ltd and promoters via misleading announcements, off-market transfers and fraudulent preferential allotment.
  Restraint from dealing in securities market directly or indirectly · Disgorgement of unlawful gains made
  Appeal: Seven appeals Nos. 303, 306, 374, 375, 376 of 2016, 62 and 79 of 2018 against WTM order dated 12.08.2016; reserved 24.04.2018, decided 28.06.2018
• Aiding and abetting PCL promoters fraudulent scheme via misleading announcements to inflate price and offloading off-market transferred shares for unlawful gains
  Restraint from dealing in securities market directly or indirectly · Disgorgement of unlawful gains made
  Appeal: Seven appeals Nos 303/2016,306/2016,374/2017,375/2017,376/2017,62/2018,79/2018 vs WTM order 12.08.2016; reserved 24.04.2018 decided 28.06.2018
• Aiding and abetting fraudulent scheme by Platinum Corporation Ltd and promoters via misleading announcements and off-market transfers to earn unlawful gains at cost of investors.
  Restraint from dealing in securities market directly or indirectly · Disgorgement of unlawful gains made
  Appeal: Seven appeals Nos 303/2016,306/2016,374/2017,375/2017,376/2017,62/2018,79/2018 against WTM order 12.08.2016; reserved 24.04.2018, decided 28.06.2018
• Aiding and abetting fraudulent scheme by Platinum Corporation Ltd. via misleading announcements, off-market transfers and market sale for Rs 12 cr gains, false shareholding disclosures and fraudulent preferential allotment evading open offer.
  Restraint from dealing in securities market directly or indirectly · Disgorgement of unlawful gains made
  Appeal: Appeal Nos.303/2016,306/2016,374/2017,375/2017,376/2017,62/2018,79/2018; reserved 24.04.2018, decided 28.06.2018 challenging WTM order 12.08.2016