Sardar Singh

3 matters before the Securities Appellate Tribunal

Penalties and directions recorded

AO order dated 18.09.2018 imposing Rs.50 lakhs penalty upheld - no manifest error of law

SAT-appeal

Operating unregistered Collective Investment Scheme (CIS) by mobilizing funds from public in contravention of Section 12(1B) of SEBI Act.
Appeal No.11 of 2019 and Appeal No.195 of 2019 dismissed together · WTM order dated 22.02.2019 rejecting refund representation upheld
Appeal: Appeal Nos.11 of 2019 and 195 of 2019 dismissed on 21.01.2020; earlier Appeal No.143 of 2016 disposed on 21.11.2017 on refund undertaking without merits
Operating unregistered Collective Investment Scheme by mobilizing funds from public under real estate schemes in contravention of Section 12(1B) of SEBI Act.
Appeal No.11 of 2019 and Appeal No.195 of 2019 dismissed · WTM order dated 22 Feb 2019 and AO order dated 18 Sept 2018 upheld; no manifest error of law
Appeal: Appeal No.11 of 2019 and Appeal No.195 of 2019 dismissed by SAT on 21.1.2020
Schemes floated by Karmbhoomi Real Estate Ltd held to be unregistered Collective Investment Schemes with direction to refund investor money
Appeal disposed without deciding merits on whether schemes are CIS · Appellants permitted to represent to SEBI with names and quantum refunded and mode of balance refund
Appeal: Appeal No.143 of 2016 disposed on 21.11.2017 with no order as to costs

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Source: SecMarx — Sardar Singh. 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.