T. Vinayak Ravi Reddy

SAT-appeal

• SAT matter SATV-3747ACF14981BD3147E8AD34
  Miscellaneous Application No. 763 of 2022 seeking condonation of delay was rejected · Appeal No. 480 of 2022 was dismissed
  Appeal: Appeal No. 480 of 2022 dismissed on 23 August 2022 after rejection of the application for condonation of 869 days' delay.
• Understatement of loans/interest and inflated profits, non-disclosure of encumbered/invoked shares, and buyback without adequate free reserves in violation of PFUTP, SAST, PIT and listing norms.
  AO proceedings pursuant to show cause notice dated 05.08.2019 held wholly illegal qua DCHL for violation of Sections 14 and 31 IBC · Penalty on DCHL unsustainable after approved resolution plan which is binding on all creditors including SEBI per Essar Steel and Monnet Ispat
  Appeal: Appeal Nos.282, 395 and 421 of 2022, hearing 23.02.2023, decided 09.11.2023 against AO order
• SAT matter SATV-38576817618C398819942B12
  Appeal No. 15 of 2024 dismissed as withdrawn · Interlocutory applications, if any, disposed of
  Appeal: Appeal No. 15 of 2024, filed under Section 15T against the SEBI Adjudicating Officer's order dated 22 March 2022, dismissed as withdrawn on 22 August 2024 after payment of penalty
• Understatement of loans and interest in FY08-11 accounts, non-disclosure of encumbered/invoked shares, buyback without free reserves misleading investors.
  AO order dated March 22, 2022 imposed Rs 4 cr on DCHL and Rs 1.30 cr each on three individuals · SAT held AO proceedings/SCN against DCHL illegal being violative of Sections 14 and 31 IBC
• Understatement of loans/interest and inflated profits, non-disclosure of encumbered/invoked shares, buyback without free reserves in violation of PFUTP, SAST, PIT and SCRA.
  AO proceedings pursuant to SCN dated Aug 5, 2019 held wholly illegal violating IBC Sections 14 and 31 · Resolution plan binding on all creditors including SEBI; no SCN/adjudication/penalty open after approval