Sparrow Asia Diversified Opportunities Fund

42 matters before the Securities Appellate Tribunal

Penalties and directions recorded

WTM restrained Winsome from accessing the securities market for three years
Winsome penalized Rs. 4.40 crore
Noticee no. 4 directed to disgorge Rs. 1,11,52,500 jointly and severally with noticees 2 and 3
Noticee no. 2 debarred for two years and penalized Rs. 44 lakh
WTM order dated 15 December 2021 was under appeal; the excerpt records restraints, disgorgement and penalties imposed by SEBI.

SAT-appeal

Alleged fraudulent GDR scheme involving undisclosed pledge and loan agreements, misleading disclosure of subscription, and use of GDR proceeds to finance the sole subscriber, violating Section 12A and PFUTP Regulations.
WTM restrained Winsome from accessing the securities market for three years · Winsome directed to bring back outstanding GDR proceeds of USD 9.018 million
Appeal: Appeal Nos. 348, 251, 342, 343 and 345 of 2022 heard together; decision dated 13 September 2023; merits outcome not included in the provided text
Alleged fraudulent GDR scheme involving undisclosed loan and pledge agreements, misleading disclosure that the issue was fully subscribed by foreign investors, and diversion/adjustment of GDR proceeds.
WTM order dated 15 December 2021 was under appeal; the excerpt records restraints, disgorgement and penalties imposed by SEBI. · Winsome was restrained from accessing the securities market for three years and directed to bring back USD 9.018 million.
Appeal: Appeal Nos. 348 of 2022, 251 of 2022, 342 of 2022, 343 of 2022 and 345 of 2022 were filed before SAT; decision dated 13 September 2023; disposal outcome is not included in the supplied excerpt.
SAT matter SATV-049C716D70A6EACFF6775DA6
List Appeal Nos. 251, 342, 343, 344 and 345 of 2022 on 22 March 2023
Appeal: Appeal Nos. 251, 342, 343, 344 and 345 of 2022; order dated 15 February 2023; listed for further hearing on 22 March 2023
SAT matter SATV-082E1E509ECEDF6FC8D1EBFF
All listed appeals were directed to be listed on 17 May 2023. · Parties were directed to act on the digitally signed copy of the order.
Appeal: Appeal Nos. 251, 342, 343, 345 and 348 of 2022 were pending and listed for 17 May 2023; no disposal on merits stated.
SAT matter SATV-18D4A16CB76ABBD07D3371BC
Rejoinder to be filed in Appeal No. 348 of 2022
Appeal: Misc. Application Nos. 910, 900, 911, 912 and 625 of 2022 in Appeal Nos. 342, 343, 344, 345 and 348 of 2022; procedural order dated 4 November 2022; Appeal No. 348 directed to file rejoinder
SAT matter SATV-2858A9A974D0B49E47D6068A
Rejoinder to be filed in Appeal No. 348 of 2022
Appeal: Appeal Nos. 342, 343, 344, 345 and 348 of 2022 were pending; Appeal No. 348 of 2022 was listed for 28 November 2022 after filing of rejoinder.
SAT matter SATV-31E67AA98882FA62C011BC8B
List all connected appeals on 17 May 2023 · Parties directed to act on the digitally signed copy of the order
Appeal: Appeal Nos. 251, 342, 343, 345 and 348 of 2022 were listed together; no disposal on merits stated.
SAT matter SATV-4BC7991F057AF1C7026BF81F
Two weeks further time allowed to appellants to file rejoinder · Matter listed on November 6, 2023
Appeal: Appeal Nos. 514, 646 and 689 of 2023 pending; rejoinder stage, next listing 06.11.2023
SAT matter SATV-3D379681DB65E2A2ADDFE031
Physical copy of the rejoinder to be filed after serving the respondent within 10 days from 11 April 2023 · Matters listed on 2 May 2023
Appeal: Appeal Nos. 185, 219, 495, 535, 542 and 750 of 2022 were pending and listed for further proceedings on 2 May 2023
SAT matter SATV-4FD5A768233DDAB57D265966
Arguments continuing; matter put up on May 18, 2023 · Parties to act on digitally signed copy; certified copy available from Registry on payment
Appeal: Appeal Nos. 251, 342, 343, 345 and 348 of 2022 pending; arguments continuing on 17.05.2023, next hearing 18.05.2023
SAT matter SATV-5D90744D5366CA06CCC072AD
List these appeals on March 22, 2023 · Parties to act on digitally signed copy; certified copy available from Registry on payment of usual charges
Appeal: Appeal Nos. 251, 342, 343, 344, 345, 348 of 2022 heard on 15.02.2023 and adjourned to 22.03.2023
SAT matter SATV-41220970007D8DDA0D8731D5
All matters listed on 25 April 2023 · Parties directed to act on the digitally signed copy of the order
Appeal: Appeal Nos. 251, 342, 343, 345 and 348 of 2022 were before SAT; order dated 12 April 2023 adjourned them to 25 April 2023
SAT matter SATV-74286DE3EAE1081104650F87
Adjourned on request of learned counsel for the appellants · List on January 19, 2023
Appeal: Appeal Nos. 185, 219, 248, 249, 250, 251 of 2022 pending; adjourned on 13.12.2022, next date January 19, 2023, no disposal
SAT matter SATV-7D5242B15F6A7B08F3B59E45
Adjourned on request of learned counsel for the appellants; matter to be listed on January 19, 2023
Appeal: Appeal Nos. 185, 219, 248, 249, 250, 251 of 2022 with Misc. Application No. 673 of 2022 pending before SAT; adjourned on 13.12.2022, next listing January 19, 2023
SAT matter SATV-7E2766A2F1F20D1E47580E58
List on May 17, 2023 · Parties to act on digitally signed copy; certified copy available from Registry on payment of usual charges
Appeal: Appeal Nos. 251, 342, 343, 345 and 348 of 2022 pending; listed on May 17, 2023 vide order dated 11.05.2023
SAT matter SATV-91A234300D03A2FB6A4CC63B
List appeals on May 17, 2023 · Parties to act on digitally signed copy of order
Appeal: Appeal Nos. 251, 342, 343, 345 and 348 of 2022 pending; listed on May 17, 2023
SAT matter SATV-8DDA03FD4A6F587C26B68A2E
Delay in filing reply condoned, application allowed and reply taken on record · Euram Bank permitted to file physical copy of rejoinder affidavit within three weeks
Appeal: Appeal No. 514 of 2023, Appeal No. 646 of 2023 and Appeal No. 689 of 2023 pending before SAT; next listed on 19 December 2023
SAT matter SATV-983958C1A6A34EF1BA02BA71
List Appeal No. 185 of 2022 for admission on May 11, 2022
Appeal: Appeal No. 185 of 2022 with Misc. Application No. 190 of 2022 dated 02.05.2022 pending, listed for admission on May 11, 2022
SAT matter SATV-A2BCDD11D4AA4F1DEF7D629D
Delay in filing appeal condoned; Misc. Application No.666 of 2023 allowed · List for admission and for final disposal on 17th August, 2023
Appeal: Appeal No.514 of 2023 with Misc. Application No.666 of 2023 for delay condonation - delay condoned on 27.6.2023; listed next on 17 August 2023
SAT matter SATV-AB5CA58D7FECA56A9B866A8B
Three weeks time allowed to the appellant to file rejoinder · Matter listed on September 25, 2023
Appeal: Appeal No. 514 of 2023 and Appeal No. 646 of 2023 pending; rejoinder stage, next date September 25, 2023
SAT matter SATV-B3C4B52892F754F7921039E3
List on April 25, 2023 · Parties to act on digitally signed copy; certified copy available from Registry on payment of usual charges
Appeal: Appeal Nos. 251, 342, 343, 345, 348 of 2022 pending before SAT; adjourned vide order dated 12.04.2023, next listed on 25 April 2023
SAT matter SATV-C11C991A8214A036A050865B
List Appeal Nos. 251, 342, 343, 344, 345, 348 of 2022 on March 22, 2023 · Parties to act on digitally signed copy; certified copy available from Registry on payment of usual charges
Appeal: Appeal Nos. 251, 342, 343, 344, 345, 348 of 2022 pending before SAT Mumbai; adjourned to March 22, 2023 vide order dated 15.02.2023
SAT matter SATV-EA696C09D4B00BA15AD71422
List all six appeals on March 22, 2023 · Parties to act on digitally signed copy; certified copy available from Registry on payment
Appeal: Appeal Nos. 251, 342, 343, 344, 345 and 348 of 2022 pending; listed for hearing on March 22, 2023
SAT matter SATV-DCF1F9DA8D62A2456DD341BB
Rejoinder to be filed in Appeal No. 348 of 2022 · Matter listed on November 28, 2022
Appeal: Appeal Nos. 342, 343, 344, 345 and 348 of 2022 pending before SAT; adjourned to November 28, 2022
SAT matter SATV-DE79FFA84FFF801B29802AFE
Heard counsel for parties, order reserved · Written submissions, if any, may be filed within two weeks
Appeal: Appeal Nos. 251, 342, 343, 345 and 348 of 2022 heard on 18.05.2023; order reserved
SAT matter SATV-EC2F70A1157D63CD8BC521DC
List these appeals on March 22, 2023 · Parties to act on digitally signed copy; certified copy available from Registry on payment
Appeal: Appeal Nos. 251, 342, 343, 344, 345 and 348 of 2022 pending before SAT; adjourned to March 22, 2023 vide order dated 15.02.2023
SAT matter SATV-EFCAE9C64198DB3949F28AA9
List these appeals on March 22, 2023
Appeal: Appeal Nos. 251, 342, 343, 344, 345, 348 of 2022 with Misc. Applications pending; adjourned to March 22, 2023 vide SAT order dated 15.02.2023
SAT matter SATV-EB43024A9C520058EF9AC7B6
List on April 25, 2023 · Parties to act on digitally signed copy; certified copy available from Registry on payment of usual charges
Appeal: Appeal Nos. 251, 342, 343, 345, 348 of 2022 with Misc. Applications 910, 900, 912, 625 of 2022 pending; listed next on 25 April 2023 vide order dated 12.04.2023
SAT matter SATV-F6B718087AC7C89DDCD1BC1E
Adjourned on request of learned counsel for respondent · List on November 10, 2023
Appeal: Appeal Nos. 185, 219, 495, 535, 542 and 750 of 2022 pending; adjourned to November 10, 2023 vide order dated 06.10.2023
SAT matter SATV-5EBC46FFE8DC611918D61D32
Physical copy of the rejoinder to be filed after serving the respondent within 10 days from 11 April 2023 · Matters listed on 2 May 2023
Appeal: Appeal Nos. 185, 219, 495, 535, 542 and 750 of 2022 were listed; no disposal on merits, with matters listed on 2 May 2023.
SAT matter SATV-7208D1DE31317C3F6C70DF4F
Delay in filing the appeal condoned · Respondent to file reply within three weeks
Appeal: Appeal No. 514 of 2023; delay condoned on 27 June 2023; listed for admission and final disposal on 17 August 2023
Fraudulent GDR scheme where GDR proceeds were pledged with EURAM Bank to fund sole subscriber Vintage FZE, with non-disclosure of loan/pledge agreements and misleading fully-subscribed announcement.
Winsome restrained from securities market for 3 years and directed to bring back USD 9.018 million GDR proceeds · Penalty of Rs. 4.40 crore on Winsome for PFUTP violation
Appeal: Appeal Nos. 348, 251, 342, 343 and 345 of 2022 against WTM order dated December 15, 2021; Order Reserved on 18.05.2023, Date of Decision 13.09.2023
SAT matter SATV-8A232F07BB73D6844D4A6444
Rejoinder to be filed in Appeal No. 348 of 2022 · List appeals on November 28, 2022
Appeal: Appeal Nos. 342, 343, 344, 345 and 348 of 2022 pending; next listing November 28, 2022
SAT matter SATV-90078F948C57B7CC8FB97DB7
Adjourned on request of learned counsel for respondent · List on November 10, 2023
Appeal: Appeal Nos. 185, 219, 495, 535, 542, 750 of 2022 pending; adjourned on 06.10.2023 to 10.11.2023
SAT matter SATV-95FC4807F9F4CD4CCFD19B33
Delay in filing Appeal No.345 of 2022 condoned · Appeal connected with Appeal No.343 of 2022
Appeal: Appeal No.345 of 2022 with Misc. Application No.482 of 2022 for delay condonation; delay condoned and stay granted on 27 June 2022; pending for admission and final disposal
SAT matter SATV-AF92448B6FCF1E773C646ED1
List on April 25, 2023 · Parties to act on digitally signed copy of order; certified copy available from Registry on payment of usual charges
Appeal: Appeal Nos. 251, 342, 343, 345, 348 of 2022 pending; adjourned to April 25, 2023 vide order dated 12.04.2023 with no disposal on merits
Fraudulent GDR issue where proceeds were pledged to fund sole subscriber Vintage FZE, with non-disclosure of loan/pledge agreements and misleading fully-subscribed announcement.
Winsome restrained from accessing securities market for 3 years · Winsome directed to bring back outstanding GDR proceeds USD 9.018 million
Appeal: Appeal Nos.348,251,342,343,345 of 2022, Order Reserved 18.05.2023, Date of Decision 13.09.2023
SAT matter SATV-C2E3FE511405BA0245C0BEB9
List all connected appeals on May 17, 2023 · Parties to act on digitally signed copy of order
Appeal: Appeal Nos. 251, 342, 343, 345 and 348 of 2022 pending before SAT; adjourned to May 17, 2023 with no disposal
SAT matter SATV-DACB138D54B244EAA442790C
Rejoinder to be filed in Appeal No. 348 of 2022 within two weeks from 04.11.2022 · Matter to be listed on November 28, 2022
Appeal: Appeal Nos. 342, 343, 344, 345 and 348 of 2022 with Misc. Appl. Nos. 910, 900, 911, 912, 625 of 2022 pending; no disposal, listed on 28.11.2022
Fraudulent GDR scheme where Winsome pledged GDR proceeds with EURAM Bank to fund sole subscriber Vintage FZE and misled market that issue was fully subscribed by foreign investors.
Winsome restrained from accessing securities market for 3 years · Winsome directed to bring back outstanding GDR proceeds USD 9.018 million
Appeal: Appeal Nos. 348, 251, 342, 343, 345 of 2022 against WTM order dated 15.12.2021; SAT reserved 18.05.2023, decided 13.09.2023
SAT matter SATV-E19EB05D2893AFC751194EB0
List these appeals on March 22, 2023 · Parties to act on digitally signed copy; certified copy available from Registry on payment of usual charges
Appeal: Appeal Nos. 251, 342, 343, 344, 345 and 348 of 2022 pending; vide order dated 15.02.2023 listed on March 22, 2023, not disposed

Other

SAT matter SATV-5BBF97E28B4EC1C85845F374
List on April 25, 2023 · Parties to act on digitally signed copy; certified copy available from Registry on payment
Appeal: Appeal Nos. 251, 342, 343, 345, 348 of 2022 pending; adjourned to April 25, 2023 vide order dated 12.04.2023

Analyse these matters in Ontology · Plans

Source: SecMarx — Sparrow Asia Diversified Opportunities Fund. 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.