Prismx Global Ventures Ltd.
Penalties and directions recorded
- Penalty of Rs. 5 lakh against Gromo was sustained, but the statutory basis was read as Section 23A(a) of the SCRA rather than Section 23E.
- Penalty of Rs. 5 lakh on Gromo was treated as imposed under Section 23A(a) of the SCRA instead of Section 23E.
- Matters listed for 5 July 2022
- List matters on July 5, 2022
- List all matters on January 23, 2023
SAT-appeal
- Alleged price manipulation, artificial volume and creation of a false and misleading appearance of trading in Gromo's scrip; Gromo also allegedly failed to disclose utilization/non-utilization of preferential allotment proceeds under Clause 43.Appeals challenged the common AO order dated 17 May 2021. · Penalty of Rs. 5 lakh against Gromo was sustained, but the statutory basis was read as Section 23A(a) of the SCRA rather than Section 23E.Appeal: Appeal Nos. 496, 518, 519, 580, 658 of 2021, 87 of 2022, 131 of 2022 and 481 of 2022 were heard together; hearing on 3 March 2023 and decision dated 5 June 2023. The provided text does not state final disposal of each appeal.
- SAT matter SATV-26EECF2EC93A0380A63A9C32Order reserved in the listed appeals and connected miscellaneous applications · Parties may file written submissions within one weekAppeal: Appeal Nos. 496, 518, 519, 580 and 658 of 2021; Appeal Nos. 87, 131 and 481 of 2022; order reserved on 3 March 2023
- SAT matter SATV-24F207D099DA590F9F267309Order reserved in the connected appeals and miscellaneous applications · Parties permitted to file written submissions within one weekAppeal: Appeal Nos. 496, 518, 519, 580, 658 of 2021, 87, 131 and 481 of 2022 were heard; order reserved on 3 March 2023
- SAT matter SATV-22A979D069DF24A0738AF89BOrder reserved after hearing counsel for the parties · Parties may file written submissions within one weekAppeal: Multiple connected appeals were heard; order reserved on 3 March 2023. No disposal on merits stated.
- SAT matter SATV-25F02E07F6729745817710CFDelay in filing the appeal condoned. · Miscellaneous application allowed.Appeal: Miscellaneous Application No. 943 of 2021 in Appeal No. 658 of 2021; delay condoned on 26 October 2021; appeal connected with Appeal No. 496 of 2021 and listed for 24 November 2021.
- Alleged price manipulation, creation of false and misleading appearance of trading and artificial volumes in Gromo's scrip through coordinated trades and higher-than-LTP orders; Gromo was also alleged to have failed to disclose utilization or non-utilization of preferential-allotment proceeds under Clause 43.Appeals against the common AO order dated 17 May 2021 were considered; the extracted text does not include the final dispositive paragraph. · Penalty of Rs. 5 lakh on Gromo was treated as imposed under Section 23A(a) of the SCRA instead of Section 23E.Appeal: Appeal Nos. 496, 518, 519, 580, 658 of 2021, 87 of 2022, 131 of 2022 and 481 of 2022; hearing on 3 March 2023. Decision dated 5 June 2023; final disposal is not included in the extracted text.
- SAT matter SATV-323018966872F72270B66F80Order reserved · Parties permitted to file written submissions within one weekAppeal: Multiple connected appeals heard; order reserved on 3 March 2023, including Appeals Nos. 496, 518, 519, 580, 658 of 2021, 87, 131 and 481 of 2022
- SAT matter SATV-39ABF0D93C702DBE4370F77EThree weeks' time granted to appellants to file rejoinder · Matters listed for 5 July 2022Appeal: Appeal Nos. 496, 518, 519, 580, 658, 87 and 131 of 2021/2022 were pending; rejoinder time granted and matters listed on 5 July 2022
- SAT matter SATV-489F917EF390B91C9CAB7C0DThree weeks time allowed to the appellants to file rejoinder · List matters on July 5, 2022Appeal: Appeal Nos. 496, 518, 519, 580, 658 of 2021 and 87, 131 of 2022 pending; rejoinder allowed; next date July 5, 2022
- SAT matter SATV-8AC82E5DC46D4D544A3C98EDThree weeks time allowed to appellants to file rejoinder · List on July 5, 2022Appeal: Appeal Nos. 496, 518, 519, 580, 658 of 2021 and 87, 131 of 2022 pending at rejoinder stage; next date July 5, 2022
- SAT matter SATV-9651A0C33C341EF6FC4B120DOrder reserved after hearing learned counsel for parties · Written submissions, if any, may be filed by parties within a week
- SAT matter SATV-9D471349D4330F003871ADD4Heard counsel for parties and reserved order · Parties to act on digitally signed copy of order by Private Secretary
- SAT matter SATV-D1A8426BD1997CCE49F5D0FEList all matters on January 23, 2023 · Parties to act on digitally signed copy; certified copy available on paymentAppeal: Appeal Nos. 496, 518, 519, 580, 658 of 2021 and 87, 131, 481 of 2022 pending; adjourned to 23.01.2023 with no disposal
- SAT matter SATV-F72A209126735CE21DC07AB2Pleadings complete, list matters on November 24, 2022 · Parties to act on digitally signed copy; certified copy from Registry on paymentAppeal: Appeal Nos. 496, 518, 519, 580, 658 of 2021 and 87, 131, 481 of 2022 pending before SAT; pleadings complete per order dated 19.10.2022, next listing 24 November 2022
- SAT matter SATV-F9306A011112C7A26F8CFE1EHeard counsel for parties and reserved order · Written submissions may be filed within a weekAppeal: Appeal Nos. 496, 518, 519, 580, 658 of 2021 and 87, 131, 481 of 2022 heard on 03.03.2023; order reserved, not disposed
- SAT matter SATV-FFD02C644E664F6C17E42CEDList on February 28, 2023 · Parties to act on digitally signed copy signed by Private Secretary on behalf of benchAppeal: Appeal Nos. 496, 518, 519, 580, 658 of 2021 and 87, 131, 481 of 2022 heard on 23.01.2023, adjourned to 28.02.2023; no disposal on merits
- Price manipulation and creation of a false and misleading appearance of trading in Gromo's scrip through coordinated trades and higher-than-LTP orders; Gromo was also alleged to have failed to disclose utilization of preferential-allotment proceeds.Appeals challenged the common AO order dated 17 May 2021 imposing penalties on 12 of 21 noticees. · Penalty of Rs. 5 lakh against Gromo for Clause 43 violation was sustained, but deemed imposed under Section 23A(a), not Section 23E.Appeal: Appeal Nos. 496, 518, 519, 580 and 658 of 2021, Appeal No. 87 of 2022, Appeal No. 131 of 2022 and Appeal No. 481 of 2022; hearing on 3 March 2023 and decision dated 5 June 2023; excerpt does not state complete disposal result
- SAT matter SATV-A988186402D7E32B3E1DEF66Appeal No.87 of 2022 stood over to 12 September 2022 for admission and final disposal as last chance due to non-appearance · All parties to act on digitally signed copy; certified copy available from Registry on payment of charges
- SAT matter SATV-DB9BA6F45A6D7853998566B0Three weeks further time granted to file rejoinder in Appeal No.87/2022 and other connected appeals · List connected appeals on December 16, 2022Appeal: Appeal Nos.496,518,519,580,658 of 2021 and 87,131,481 of 2022 pending before SAT; not disposed, adjourned to 16.12.2022 vide order dated 24.11.2022
Other
- SAT matter SATV-9C05052C57440D9E10C4A3CAThree weeks' time allowed to the appellants to file rejoinder · Matter listed on July 5, 2022Appeal: Appeal Nos. 496, 518, 519, 580, 658 of 2021 and 87, 131 of 2022 pending with Misc. Appl. 74-75 of 2022; adjourned to 05.07.2022 for rejoinder
Source: SecMarx — Prismx Global Ventures 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.