Rajagopal K

SAT-appeal

• SAT matter SATV-04E5FE647A7C657E57BC39BE
  Entire group of appeals adjourned · Stand over to 19 April 2022 for final hearing and disposal
  Appeal: Appeal Nos. 43 of 2020, 51 of 2020 and 89 of 2020 were adjourned on 31 March 2022; listed for final hearing and disposal on 19 April 2022
• SAT matter SATV-1199E9F198A65BF528B57D25
  List Appeal No. 43 of 2020, Appeal No. 51 of 2020 and Appeal No. 89 of 2020 on 14 January 2022 · Parties to obtain instructions from the Registrar 48 hours before the scheduled date regarding video conference or physical hearing
  Appeal: Appeals Nos. 43 of 2020, 51 of 2020 and 89 of 2020 were listed for further hearing on 14 January 2022; no disposal on merits stated
• SAT matter SATV-5526A4B56808FE290BFB00E8
  Entire group adjourned and stood over to 19 April 2022 for final hearing and disposal
  Appeal: Appeal Nos. 43 of 2020, 51 of 2020 and 89 of 2020 pending; adjourned to 19 April 2022 for final hearing and disposal
• Fraudulent GDR scheme where USD 27.50 mn proceeds pledged as security to fund sole subscriber Clifford, with non-disclosure and misleading fully-subscribed announcement.
  Upheld AO finding of fraud under Sec 12A and PFUTP Regs 3,4 · Upheld Rs 5 crore penalty on A Venkataramani
• SAT matter SATV-8D97B045B29A2991C3D6A81D
  Entire group of appeals adjourned and stood over to 19 April 2022 for final hearing and disposal
  Appeal: Appeal Nos. 43 of 2020, 51 of 2020 and 89 of 2020 pending before SAT; adjourned to 19 April 2022 for final hearing and disposal
• Fraudulent GDR issue where USD 27.50 mn proceeds pledged as security to fund sole subscriber, with misleading fully-subscribed announcement and non-disclosure.
  Affirmed AO finding of fraudulent GDR scheme violating Sec 12A and PFUTP Regs 3,4 · Upheld Rs 5 crore penalty on A Venkataramani per AO order 29 Nov 2019
  Appeal: Appeals No. 43/2020, 51/2020, 89/2020, 336/2022, 337/2022 decided 02.09.2022 (reserved 26.08.2022); findings upheld with modification noted
• SAT matter SATV-A839EC7A28C2D9843C5279B4
  List Appeal Nos. 43, 51 and 89 of 2020 on January 14, 2022 · Parties to take instructions from Registrar 48 hours before fixed date on video vs physical hearing
  Appeal: Appeal Nos. 43 of 2020, 51 of 2020 and 89 of 2020 with Misc. Application Nos. 202 of 2021 and 1133 of 2021 pending, adjourned to January 14, 2022
• Fraudulent GDR scheme where USD 27.5 mn proceeds pledged as security to fund sole subscriber and loan/pledge and single-subscriber fact not disclosed, misleading market.
  SAT upheld AO order 29.11.2019 finding fraud under Sec 12A and PFUTP · Rs 5 cr penalty on A Venkataramani upheld
  Appeal: Appeal Nos 43/2020, 51/2020, 89/2020, 336/2022, 337/2022 reserved 26.08.2022, decided 02.09.2022; penalties upheld with modification for joint penalty
• SAT matter SATV-B7060FB69514DE1D1891E673
  Adjourned on request of learned counsel for respondent SEBI · List on October 22, 2021
  Appeal: Appeal Nos. 43 of 2020, 51 of 2020, 89 of 2020 with Misc. Application No. 202 of 2021 pending; adjourned to October 22, 2021, not disposed on 06.09.2021
• SAT matter SATV-4708D0E15E8691FC2A50AE0A
  Matters adjourned at the request of SEBI's counsel · List the matters on 22 October 2021
  Appeal: Appeal Nos. 43 of 2020, 51 of 2020 and 89 of 2020 were adjourned; next listed on 22 October 2021
• Fraudulent GDR scheme: pledged USD 27.5 mn GDR proceeds as collateral to fund sole subscriber, non-disclosure and misleading fully-subscribed announcement.
  AO order Nov 29, 2019 penalty Rs 5 cr on A Venkataramani upheld - no error · AO penalty Rs 10 lakh on Uma Karthikeyan dated Apr 21, 2022 upheld as just and proper
  Appeal: Appeal Nos. 43, 51, 89 of 2020 and 336, 337 of 2022 with Misc. Applications decided by SAT on 02.09.2022 (reserved 26.08.2022)
• SAT matter SATV-D30DBD915033EF7067BE3542
  Adjourned on request of counsel for respondent SEBI · List on October 22, 2021
  Appeal: Appeal Nos. 43 of 2020, 51 of 2020, 89 of 2020 with Misc. Application No. 202 of 2021 pending before SAT; adjourned on 06.09.2021 to 22.10.2021, no disposal
• SAT matter SATV-D8E5F91241E7F27B09C9966C
  List Appeal Nos. 43, 51 and 89 of 2020 on January 14, 2022 · Parties to take instructions from Registrar 48 hours before fixed date on video vs physical hearing
  Appeal: Appeal Nos. 43 of 2020, 51 of 2020 and 89 of 2020 with Misc. Application Nos. 202 of 2021 and 1133 of 2021 pending; adjourned to 14.01.2022 by order dated 10.12.2021
• Fraudulent GDR scheme: pledged USD 27.5 mn GDR proceeds as security to fund sole subscriber Clifford, misrepresented as fully subscribed, non-disclosure to exchange/investors.
  Upheld Rs 5 crore penalty on Chairman A Venkataramani per AO order 29 Nov 2019 · Upheld Rs 10 lakh penalty on Uma Karthikeyan per AO order 21 Apr 2022; noted 5-year WTM debarment
  Appeal: SAT Appeal Nos 43, 51, 89 of 2020 and 336, 337 of 2022 decided on 02.09.2022 (reserved 26.08.2022)