Talat Wahadatali Mohamad

SAT-appeal

• Alleged conspiracy to forge/counterfeit and consolidate public shareholders’ Finalysis shares, sell them through off-market transactions, and violations of PFUTP, SAST and PIT disclosure provisions.
  WTM directions and AO penalties were challenged in connected appeals; the excerpt does not state the final operative disposal. · Original WTM directions included market-access restraints, director/KMP restraints, disgorgement and liquidation of specified shareholdings.
  Appeal: Connected Appeals Nos. 98, 99, 427, 428, 429, 430 of 2021 and 620 of 2022; hearing on June 11, 2024 and decision dated August 9, 2024. Final disposal is not included in the supplied excerpt.
• Alleged conspiracy to forge/counterfeit and consolidate public shareholders’ Finalysis shares and sell them off-market, along with failures in takeover, insider-trading and related disclosures.
  WTM directions under challenge included market-access restraints, director/KMP restraints, disgorgement and liquidation of specified shareholdings. · AO penalties under challenge included penalties under Sections 15HA, 15A(a), 15A(b) and Regulation 15H(i).
  Appeal: SAT heard Appeals Nos. 98, 99, 427, 428, 429, 430 and 620 of 2022/2021 together; decision dated 9 August 2024. Extracted text does not state final disposal directions.
• Fraudulent forging/counterfeiting/consolidation of 93% public shareholding of Finalysis Credit & Guarantee and off-market sale below market price; buyers dealt with knowledge of forgery.
  WTM 05.05.2020: 5-year market access ban on noticee 1,2,4,5,6,8 · WTM: 5-year director/KMP ban on noticee 2,4,5,6,8 in listed company/intermediary
  Appeal: SAT Appeals No.98,99,427,428,429,430 of 2021 and 620 of 2022 heard 11.06.2024, decided 09.08.2024 together
• Forging/counterfeiting 93% public shareholding of Finalysis Credit & Guarantee Co. Ltd after relisting and fraudulent off-market sale below market price
  WTM 5 May 2020: noticees 1,2,4,5,6,8 barred 5 years from securities market · WTM: noticees 2,4,5,6,8 barred 5 years from director/KMP posts in listed company/intermediary
  Appeal: Appeal Nos. 98,99,427,428,429,430 of 2021 and 620 of 2022 heard 11.06.2024, decided 09.08.2024 - common order
• Fraudulent forging/counterfeiting of 93% public shareholding of Finalysis Credit & Guarantee Co Ltd and off-market sale below market price after relisting.
  5-year market access ban on noticees 1,2,4,5,6,8 with ban on dealing in securities · 5-year ban on holding director/KMP posts in listed company/intermediary for 2,4,5,6,8
  Appeal: Appeal Nos 98, 99, 427, 428, 429, 430 of 2021 and 620 of 2022 heard 11.06.2024, decided 09.08.2024; pending disposal on merits in excerpt
• Fraudulent forging/counterfeiting/consolidation of ~93% public shares of Finalysis Credit & Guarantee Co. Ltd and off-market sale below market price after relisting.
  5-year market access and dealing ban on noticees 1,2,4,5,6,8 · 5-year director/KMP ban for noticees 2,4,5,6,8
• Alleged conspiracy to forge/counterfeit and consolidate public shareholders’ shares and sell them offline, along with disclosure and takeover-reporting violations.
  WTM directions under challenge included 3- or 5-year securities-market restraints and liquidating specified shareholdings. · WTM directed certain noticees to disgorge specified amounts with 12% annual interest.
  Appeal: Appeals 98, 99, 427, 428, 429, 430 of 2021 and 620 of 2022; heard 11 June 2024 and decided 9 August 2024. Extract does not state final disposition.