Svam Software Ltd.

4 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Impugned penalty order quashed
WTM imposed penalties totalling Rs.63 lakhs on appellants
SAT held no Section 12A/PFUTP violation, no fund diversion or price manipulation
SAT held only partial LODR lapses remain; debarment and penalty harsh and excessive
Appeal disposed as withdrawn with liberty to pursue representation pending before SEBI

SAT-appeal

Noticee No.1 issued preferential allotment to other noticees after funding them, alleged to violate Section 12A read with Regulations 3 and 4 of PFUTP Regulations.
Impugned penalty order quashed · Appeal allowed
Appeal: Appeal No.752 of 2022 allowed on 19.5.2023; Misc. Application No.1073 of 2022 and Misc. Application No.2 of 2023 disposed of
Alleged shell company misrepresenting financials and misusing funds; LODR violations for RPT non-disclosure, inventory overvaluation, cash payments and undisclosed loans, and PFUTP violation.
WTM order debarred appellants from securities market for one year · WTM imposed penalties totalling Rs.63 lakhs on appellants
Appeal: Appeal No.801 of 2021 against WTM order dated 07.10.2021, heard 20.09.2022, decided 13.10.2022; prior Appeal No.271 of 2017 disposed 16.10.2017
SAT matter SATV-C94F7736B7F285A05684CCCF
Appeal disposed as withdrawn with liberty to pursue representation pending before SEBI · SEBI directed to dispose representation expeditiously within six weeks from 16/10/2017
Appeal: Appeal No.271 of 2017 disposed on 16/10/2017 as withdrawn with liberty
SAT matter SATV-F6F302407899A02BA9AF4919
Debarment of appellants shall remain stayed subject to deposit of Rs. 25 lakhs of penalty on or before February 28, 2022 · Misc. Application 104 of 2022 disposed of
Appeal: Misc. Application 104 of 2022 in Appeal No. 801 of 2021 disposed of on 08.02.2022; main appeal pending

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Source: SecMarx — Svam Software Ltd.. 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.