Prismx Global Ventures Ltd formerly Gromo Trade & Consultancy Ltd
Penalties and directions recorded
- SAT held Rs 5 lakh penalty on company under Sec 23E to be read as under Sec 23A(a), quantum upheld without modification
- Penalty of Rs 5 lakh on Gromo upheld, to be read as under Section 23A(a) SCRA and not Section 23E
SAT-appeal
- Kamalakshi group including appellants manipulated Gromo scrip price creating false misleading appearance; company failed to disclose use of preferential allotment proceeds under Clause 43.AO held 12 noticees including appellants guilty of price manipulation violating Reg 3,4 PFUTP r/w Sec 12A SEBI Act · SAT held Rs 5 lakh penalty on company under Sec 23E to be read as under Sec 23A(a), quantum upheld without modificationAppeal: Appeal Nos. 496,518,519,580,658 of 2021 and 87,131,481 of 2022 heard 03.03.2023 decided 05.06.2023 by SAT
- Price manipulation and creation of false and misleading appearance of trading in Gromo scrip by Kamalakshi group with company connivance; non-utilisation and non-disclosure of preferential allotment proceeds under Clause 43.Penalty of Rs 5 lakh on Gromo upheld, to be read as under Section 23A(a) SCRA and not Section 23E
Source: SecMarx — Prismx Global Ventures Ltd formerly Gromo Trade & Consultancy 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.