Pravin T. Sawant

3 matters before the Securities Appellate Tribunal

Penalties and directions recorded

JMD Ventures Limited directed to pay Rs. 15 lakh for LODR violations
Penalties imposed on the other appellants set aside
Reduced JMD Ventures Limited penalty to Rs 15 lakhs
Set aside penalties imposed on individual appellants
Company penalty reduced to Rs 15 lakhs

SAT-appeal

Misrepresentation of financial statements, accounting-standard violations, misuse of funds/books of account, delayed disclosures under LODR Regulations, non-furnishing of information/non-cooperation, and alleged PFUTP violations.
Debarment periods reduced to the period already undergone · JMD Ventures Limited directed to pay Rs. 15 lakh for LODR violations
Appeal: Appeal Nos. 404, 553 and 572 of 2022 partly allowed on 17 March 2023
Misrepresentation of financials, misuse of funds/books, non-cooperation and LODR disclosure failures; alleged shell company and PFUTP fraud not established.
Affirmed LODR non-compliance violation by Company · Reduced debarment to period already undergone by appellants
Appeal: Appeal Nos. 404, 553 and 572 of 2022 partly allowed by SAT decision dated 17.03.2023 (reserved 14.03.2023)
Misrepresentation of financials, misuse of funds/books, LODR disclosure failures and non-cooperation; alleged shell company and PFUTP fraud which WTM held not proved.
Affirmed LODR non-compliance violation by Company · Debarment reduced to period already undergone by appellants
Appeal: Appeal Nos. 404, 553 and 572 of 2022 partly allowed by SAT on 17.03.2023 (reserved on 14.03.2023)

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Source: SecMarx — Pravin T. Sawant. 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.