Tanu Girraj Kishor Agrawal

SAT-appeal

• SAT matter SATV-03BD7B48A3782FAD02FA52A3
  Adjourned the matter · Listed the appeal for admission on 8 November 2021
  Appeal: Appeal No. 663 of 2021; adjourned on 28 October 2021 and listed for admission on 8 November 2021; no disposal stated
• Essar (India) Limited allegedly funded the appellants' preferential allotment subscriptions, creating a false impression of fund infusion and constituting an unfair trade practice.
  Impugned AO orders imposing penalties were quashed and set aside. · All three appeals were allowed with no order as to costs.
  Appeal: Appeal Nos. 650, 658 and 952 of 2022 were allowed by SAT on 31 October 2023; impugned AO orders were quashed.
• SAT matter SATV-250D1CA50406137C9BDA5ADB
  List Appeals Nos. 662 and 663 of 2021 for admission along with Tilak Ventures Ltd. v. SEBI, Appeal Lodging No. 589 of 2021, on 15 November 2021 · Parties to take instructions from the Registrar 48 hours before the hearing regarding video conference or physical hearing
  Appeal: Appeal Nos. 662 and 663 of 2021; order dated 8 November 2021 directed listing for admission on 15 November 2021; no disposal on merits stated
• Circular / reversal trades and price-volume manipulation in Octant Interactive Technologies Ltd with no transfer of beneficial ownership to create false appearance and wrongful gains.
  Appeal: 14 appeals (Nos. 552, 507, 508, 509, 514, 515, 545, 600, 607, 611, 612 of 2019 and 30, 67, 68 of 2020) against AO order dated 2 Aug 2019; hearing 23 Aug 2021, decision 17 Sep 2021
• Company funded its own preferential issue through conduits and misled investors and shareholders regarding raising of funds through preferential shares.
  Appeals fail and are dismissed in limine without any order as to costs · AO's cumulative penalty of Rs. 70 lakhs upheld, no manifest error found
  Appeal: Appeal Nos. 662, 663, 673 and 674 of 2021 dismissed in limine on 15.11.2021
• Allegedly funded its own preferential issue through intermediaries, misleading investors and shareholders about raising funds through preferential shares; treated as fraud on the securities market.
  All four appeals dismissed in limine · Common AO order dated 30 July 2021 upheld
  Appeal: Appeal Nos. 662, 663, 673 and 674 of 2021 dismissed in limine on 15 November 2021
• Circular/reversal trades with no change in beneficial ownership to create false appearance of trades, artificial volume and price manipulation in Octant Interactive Technologies Ltd for wrongful gains.
  AO found violation of Regulations 3 and 4 PFUTP and imposed different penalties on each noticee
• SAT matter SATV-A263BD6B6677E20323DBF94D
  List Appeal No. 662/2021 and 663/2021 for admission with Tilak Ventures Ltd appeal · Parties to act on digitally signed copy sent by fax and/or email
  Appeal: Appeal No. 662 of 2021 and Appeal No. 663 of 2021 listed for admission on 15.11.2021; not disposed
• Company funded its own preferential issue through conduits and misled investors and shareholders regarding raising of funds through preferential shares.
  Appeals dismissed in limine without any order as to costs · AO cumulative penalty of Rs. 70 lakhs upheld; no manifest error found
  Appeal: Appeal Nos. 662, 663, 673 and 674 of 2021 disposed on 15.11.2021 - dismissed in limine
• Circular / reversal trades and price manipulation with artificial volume in scrip of Octant Interactive Technologies Ltd by promoter, Manish Rathi and Kolkata groups to offload promoter shares at manipulated price.
  Appeal: Fourteen SAT appeals Nos. 552, 507, 508, 509, 514, 515, 545, 600, 607, 611, 612 of 2019 and 30, 67, 68 of 2020 against AO order dated 02.08.2019; heard 23.08.2021, decision 17.09.2021
• Circular/reversal trades with no change in beneficial ownership to create false volume and manipulate price of Octant Interactive Technologies Ltd for promoters to offload at manipulated price.
  Appeal: Fourteen SAT Appeals Nos. 552, 507, 508, 509, 514, 515, 545, 600, 607, 611, 612 of 2019 and 30, 67, 68 of 2020 against AO order dated 02.08.2019; heard 23.08.2021, decision 17.09.2021
• Essar (India) Ltd allegedly funded its own preferential allotment to appellants, creating false impression of fund infusion.
  AO orders quashed; Appeal Nos. 650, 658, 952 of 2022 allowed · No order as to costs; Misc. Applications 1693/2022, 1430/2022 disposed
  Appeal: Appeal Nos. 650, 658, 952 of 2022 allowed on 31.10.2023; AO penalty orders quashed
• Company funded its own preferential issue through conduits and misled investors/shareholders about raising funds via preferential shares.
  Appeals dismissed in limine; AO order upheld · No order as to costs
  Appeal: Appeal Nos. 662, 663, 673 and 674 of 2021 dismissed on 15.11.2021
• Circular/reversal trades on and off-market with no transfer of beneficial ownership to create false appearance, artificial volume and price manipulation in Octant Interactive Technologies Ltd for wrongful gain.
  AO vide order dated August 2, 2019 held appellants and other noticees guilty of violating Regulations 3 and 4 of PFUTP Regulations and imposed different penalties on each appellant
  Appeal: Fourteen appeals Nos. 552, 507, 508, 509, 514, 515, 545, 600, 607, 611, 612 of 2019 and 30, 67, 68 of 2020 against AO order dated 02.08.2019; heard 23.08.2021, decided 17.09.2021
• Essar (India) Ltd allegedly funded allottees' subscription to its own preferential allotment, creating false impression of fund infusion - unfair trade practice.
  AO impugned orders quashed · Appeal Nos. 650/2022, 658/2022 and 952/2022 allowed
  Appeal: Appeal Nos. 650/2022, 658/2022 and 952/2022 allowed vide SAT decision dated 31.10.2023 (reserved 25.04.2023)
• Circular / reversal trades and price-volume manipulation in Octant Interactive Technologies Ltd. by promoter, Manish Rathi and Kolkata groups with no change in beneficial ownership.
  Appeal: 14 appeals against AO order 02.08.2019 heard 23.08.2021, decision dated 17.09.2021; operative disposal not in excerpt