Ram Bhopal Agarwal & Sons HUF

45 matters before the Securities Appellate Tribunal

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.
Parties to obtain hearing-mode instructions from the Registrar 48 hours before the listed date
Matters listed for 11 February 2022
Parties directed to obtain hearing-mode instructions from the Registrar 48 hours before the listed date
Matters listed for hearing on 24 November 2021

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-0708E5EFF93423C2BBBAC62D
Adjourned on SEBI's request · Listed on 29 March 2022 for admission and final disposal
Appeal: Appeal Nos. 496, 518, 519, 580 and 658 of 2021; order dated 11 February 2022 adjourned the matters to 29 March 2022 for admission and final disposal
SAT matter SATV-0B18108B4B563AA1D83CC9D9
Three weeks' time granted to the appellants to file rejoinder · Matters listed for 11 February 2022
Appeal: Appeal Nos. 496, 518, 519, 580 and 658 of 2021 were pending; adjourned for rejoinder and listed on 11 February 2022
SAT matter SATV-1DE35011381DA78144D3D075
Three weeks granted to appellants to file rejoinder · Matters listed for hearing on 24 November 2021
Appeal: Appeal Nos. 496, 518, 519 and 580 of 2021 were pending; rejoinder time granted and matters listed for 24 November 2021.
SAT matter SATV-26EECF2EC93A0380A63A9C32
Order reserved in the listed appeals and connected miscellaneous applications · Parties may file written submissions within one week
Appeal: 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-24F207D099DA590F9F267309
Order reserved in the connected appeals and miscellaneous applications · Parties permitted to file written submissions within one week
Appeal: 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-22A979D069DF24A0738AF89B
Order reserved after hearing counsel for the parties · Parties may file written submissions within one week
Appeal: Multiple connected appeals were heard; order reserved on 3 March 2023. No disposal on merits stated.
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-360AE0BFC6DC2FE2E867F1DE
Three weeks' further time allowed to the appellant to file rejoinder, if any · Matters listed on 5 August 2022
Appeal: Order dated 5 July 2022 in Appeal Nos. 496, 518, 519, 580, 658 and 87 of 2022; three weeks granted for rejoinder and matters listed on 5 August 2022
SAT matter SATV-323018966872F72270B66F80
Order reserved · Parties permitted to file written submissions within one week
Appeal: 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-237F0A514EF038BE0B3460E3
Adjourned on request of learned counsel for respondent (SEBI) · List on March 29, 2022 for admission and for final disposal
Appeal: Appeal Nos. 496, 518, 519, 580 and 658 of 2021 pending; adjourned on 11.02.2022 and listed on March 29, 2022 for admission and final disposal
SAT matter SATV-39ABF0D93C702DBE4370F77E
Three weeks' time granted to appellants to file rejoinder · Matters listed for 5 July 2022
Appeal: 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-4E5F536437CB7408EECC4F69
Three weeks time allowed to the appellant to file rejoinder · List on November 24, 2021
Appeal: Appeal Nos. 496, 518, 519 and 580 of 2021 pending before SAT; adjourned to November 24, 2021 for filing rejoinder
SAT matter SATV-41491FBF50A1104296B722A6
Adjourned Appeal Nos. 496, 518, 519, 580 and 658 of 2021 on request of counsel in 658 of 2021 · Directed Registry to list the appeals on April 7, 2022
Appeal: Appeal Nos. 496, 518, 519, 580 and 658 of 2021 pending before SAT; adjourned on 29.03.2022 to 07.04.2022 with no disposal on merits
SAT matter SATV-489F917EF390B91C9CAB7C0D
Three weeks time allowed to the appellants to file rejoinder · List matters on July 5, 2022
Appeal: Appeal Nos. 496, 518, 519, 580, 658 of 2021 and 87, 131 of 2022 pending; rejoinder allowed; next date July 5, 2022
Price manipulation of Gromo scrip and creating false/misleading appearance of trading via concerted trades and misuse of preferential allotment proceeds.
Rs.5 lakh penalty on Gromo/Prismx upheld for Clause 43 violation, read as under Section 23A(a) SCRA not Section 23E · AO finding of PFUTP violation by 12 noticees including appellants under examination
Appeal: Appeal Nos. 496,518,519,580,658 of 2021 and 87,131,481 of 2022 heard 03.03.2023, decided 05.06.2023 against AO order
SAT matter SATV-693A14B991EECC71F0DF078E
Three weeks time allowed to the appellant to file rejoinder · List the matters on February 11, 2022
Appeal: Appeal Nos. 496, 518, 519, 580 and 658 of 2021 pending before SAT; adjourned to February 11, 2022 for rejoinder
Price manipulation in Gromo scrip by Kamalakshi group creating false and misleading appearance of trading with gross market positive LTP contribution of Rs 101.35; company failed to disclose utilization of preferential issue proceeds under Clause 43.
Penalty of Rs 5 lakh on Gromo / Prismx upheld for Clause 43 violation, to be read as imposed under Section 23A(a) SCRA and not Section 23E
Appeal: Appeal Nos. 496, 518, 519, 580, 658 of 2021 and 87, 131, 481 of 2022 with Misc. Applications against AO common order dated 17 May 2021; hearing 03.03.2023, decision 05.06.2023
SAT matter SATV-6B4DD9A14134A7719ADF35DE
Registry to list Appeal Nos. 496, 518, 519, 580 and 658 of 2021 on April 7, 2022 · All parties to act on digitally signed copy of order by Private Secretary
Appeal: Appeal Nos. 496, 518, 519, 580, 658 of 2021 adjourned to April 7, 2022 vide SAT order dated 29.03.2022
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 modification
Appeal: 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
SAT matter SATV-8AC82E5DC46D4D544A3C98ED
Three weeks time allowed to appellants to file rejoinder · List on July 5, 2022
Appeal: 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-9651A0C33C341EF6FC4B120D
Order reserved after hearing learned counsel for parties · Written submissions, if any, may be filed by parties within a week
SAT matter SATV-9D471349D4330F003871ADD4
Heard counsel for parties and reserved order · Parties to act on digitally signed copy of order by Private Secretary
SAT matter SATV-C87586852B63FEB715FFA664
Registry to list Appeal Nos. 496, 518, 519, 580 and 658 of 2021 on April 7, 2022 · All concerned parties to act on digitally signed copy of order
Appeal: Appeal Nos. 496, 518, 519, 580 and 658 of 2021 pending before SAT; adjourned on 29.03.2022 to 07.04.2022, no disposal
SAT matter SATV-C1A0F427E4AE02748C79514B
Adjourned on request of counsel for respondent SEBI · List on March 29, 2022 for admission and for final disposal
Appeal: Appeal Nos. 496, 518, 519, 580 and 658 of 2021 pending; adjourned on 11.02.2022, listed on March 29, 2022 for admission and final disposal
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
SAT matter SATV-D1A8426BD1997CCE49F5D0FE
List all matters on January 23, 2023 · Parties to act on digitally signed copy; certified copy available on payment
Appeal: 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-D55355AE82C11D06F0029E18
Three weeks time allowed to the appellant to file rejoinder · List on November 24, 2021
Appeal: Appeal Nos. 496, 518, 519, 580 of 2021 pending; rejoinder permitted; next listing November 24, 2021
SAT matter SATV-D0677A47ABD63CC866B99B34
Heard counsel for parties, order reserved · Written submissions, if any, may be filed within a week
Appeal: Appeal Nos. 496, 518, 519, 580, 658 of 2021 and 87, 131, 481 of 2022 heard on 03.03.2023; order reserved, no disposal yet
SAT matter SATV-E67F4818A303F64FB7C921BC
Three weeks time allowed to appellants to file rejoinder · Matter listed on July 5, 2022
Appeal: Appeal Nos 496, 518, 519, 580, 658 of 2021 and 87, 131 of 2022 pending at rejoinder stage; next date 05.07.2022
SAT matter SATV-F72A209126735CE21DC07AB2
Pleadings complete, list matters on November 24, 2022 · Parties to act on digitally signed copy; certified copy from Registry on payment
Appeal: 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-F9306A011112C7A26F8CFE1E
Heard counsel for parties and reserved order · Written submissions may be filed within a week
Appeal: 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-FDE121F886ED2282834016E7
Adjourned on request of SEBI counsel; listed on March 29, 2022 for admission and final disposal · Parties to take instructions from Registrar 48 hours before fixed date on video conference vs physical hearing
Appeal: Appeal Nos. 496, 518, 519, 580 and 658 of 2021 adjourned on SEBI counsel request; listed on March 29, 2022 for admission and final disposal
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-60FC5098FB57B66C0A71F62C
Three weeks granted to appellants to file rejoinder · Matters listed for 11 February 2022
Appeal: Appeal Nos. 496, 518, 519, 580 and 658 of 2021 were pending; adjourned for rejoinder and listed on 11 February 2022
SAT matter SATV-4B79A107DD3E232CBAE88F37
Matter posted for further hearing on March 1, 2023 · Parties to act on digitally signed copy; certified copy available from Registry on payment
SAT matter SATV-59505CD267E678E352BCBDC8
Three weeks time allowed to appellants to file rejoinder · Matter listed on July 5, 2022
Appeal: Appeal Nos. 496,518,519,580,658 of 2021 and 87,131 of 2022 pending; rejoinder stage, next date 05.07.2022
SAT matter SATV-DB2E44AB15F31C7105F8639C
Adjourned the matters and directed Registry to list aforesaid appeals on April 7, 2022 · Parties to act on digitally signed copy; certified copy available from Registry on payment
Appeal: Appeal Nos. 496, 518, 519, 580 and 658 of 2021 pending before SAT; adjourned on 29.03.2022 to 07.04.2022, not disposed
SAT matter SATV-BBA0D97AEFB664BA8D9409A9
Three weeks time allowed to the appellant to file rejoinder · List on November 24, 2021
Appeal: Appeal Nos. 496, 518, 519 and 580 of 2021 pending before SAT; rejoinder allowed, next listing on November 24, 2021
SAT matter SATV-DB9BA6F45A6D7853998566B0
Three weeks further time granted to file rejoinder in Appeal No.87/2022 and other connected appeals · List connected appeals on December 16, 2022
Appeal: 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
SAT matter SATV-DF523C9BB6007C45A43AA938
Three weeks time allowed to the appellant to file rejoinder · List matter on February 11, 2022
Appeal: Appeal Nos. 496, 518, 519, 580 and 658 of 2021 pending before SAT; rejoinder allowed, listed on 11 February 2022
SAT matter SATV-D2C1E69642F9BAEBA67D3959
Adjourned on request of counsel for respondent SEBI · List on March 29, 2022 for admission and for final disposal
Appeal: Appeal Nos. 496, 518, 519, 580 and 658 of 2021 pending before SAT; adjourned on 11.02.2022 to March 29, 2022 for admission and final disposal
SAT matter SATV-F8BDCC62E90FDB935FD57A86
Three weeks time allowed to the appellant to file rejoinder · List matter on February 11, 2022
Appeal: Appeal Nos. 496, 518, 519, 580 and 658 of 2021 pending before SAT; adjourned vide order dated 13.01.2022 to 11.02.2022
SAT matter SATV-F1535EDDF28F2DFEC4153799
Matter adjourned and Registry directed to list appeals on April 7, 2022 · Parties to act on digitally signed copy; certified copy available from Registry on payment
Appeal: Appeal Nos. 496, 518, 519, 580 and 658 of 2021 pending before SAT; adjourned to April 7, 2022 vide order dated 29.03.2022

Other

SAT matter SATV-9C05052C57440D9E10C4A3CA
Three weeks' time allowed to the appellants to file rejoinder · Matter listed on July 5, 2022
Appeal: 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

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Source: SecMarx — Ram Bhopal Agarwal & Sons HUF. 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.