Solaris Industrial & Chemicals Ltd.

SAT-appeal

• SAT matter SATV-0E33942BC940B7D4F0FBBD00
  SEBI directed to issue show-cause notices on or before 25 May 2021 · SEBI proceedings to be decided within six months from filing of replies, as directed in the 6 April 2021 order
  Appeal: Misc. Applications Nos. 590 and 591 of 2021 in Appeal Nos. 224 and 231 of 2020 allowed and disposed of on 10 May 2021
• Prima facie serious misstatement of accounts, understatement of liabilities and advances to related/unrelated parties, and diversion/siphoning of CG Power funds.
  SAT held Appeals No.224 of 2020 and 231 of 2020 liable to be dismissed · Confirmed WTM confirmatory order dated 11 March 2020 continuing interim restraints
• Serious misstatement of accounts, understatement of liabilities and advances to related/unrelated parties, and wrongful diversion/siphoning of CG Power funds via nine specified transactions.
  SAT dismissed Appeal Nos.224 of 2020 and 231 of 2020, upholding WTM confirmatory order dated 11 March 2020 · Confirmed restraint on noticees 2-5 from securities market and association with listed entity/intermediary till further orders
  Appeal: Appeal Nos.224 of 2020 and 231 of 2020 with Misc.Application 222 of 2020 decided 6.4.2021 - dismissed; prior Appeal No.413 of 2019 dismissed 1.10.2019
• SAT matter SATV-E952228299E951613AD7754A
  Allow SEBI's extension applications · SEBI to issue show cause notice on or before May 25, 2021
  Appeal: Misc. Application No.590 of 2021 in Appeal No.224 of 2020 and Misc. Application No.591 of 2021 in Appeal No.231 of 2020 disposed on 10.05.2021; underlying Appeals disposed on 06.04.2021