Tarini International Ltd.

5 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Parties to obtain instructions from the Registrar 48 hours before the hearing date regarding video conference or physical hearing
WTM: appellants restrained from accessing securities market for 4 years
AO 10 Feb 2020: monetary penalties from Rs.5 lakh to Rs.5 crore on appellants
SAT: found no infirmity in SEBI findings on diversion (full operative truncated)
WTM: appellants restrained from accessing securities market for 4 years

SAT-appeal

SAT matter SATV-0072359AE8F910E709D9345F
Three weeks’ further time granted to appellants to file rejoinder · List the appeals on 7 July 2021
Appeal: Appeal Nos. 179 of 2019, 138 of 2020 and 496 of 2020 were pending; listed for 7 July 2021
SAT matter SATV-31B410DE885F866FE6FB69A8
Order reserved in Appeal Nos. 179 of 2019 and 138 of 2020
Appeal: Appeal Nos. 179 of 2019 and 138 of 2020 were heard; order reserved on 9 February 2022.
Diversion/misutilisation of SME IPO proceeds of ~Rs.15.40 cr to promoter group entities behind investors' back in violation of prospectus objects and PFUTP.
WTM 29 May 2019: Tarini to bring back diverted amount to company with interest · WTM: appellants restrained from accessing securities market for 4 years
Diversion/mis-utilisation of approx Rs.15.40 cr SME IPO proceeds to promoter group entities/third parties contrary to prospectus objects, including funding purchase of own shares.
WTM 29 May 2019: appellant No.1 to bring back diverted amount to company with interest · WTM: appellants restrained from accessing securities market for 4 years
SAT matter SATV-EFFC50A105827CD2576E1C2B
Three weeks further time allowed to appellants to file rejoinder · Matter listed on July 7, 2021
Appeal: Appeal Nos. 179 of 2019, 138 of 2020 and 496 of 2020 pending; adjourned to July 7, 2021 for filing rejoinder

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Source: SecMarx — Tarini International 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.