Umang Dhanuka

SAT-appeal

• SAT matter SATV-12A4FCC3DAFDE5CE399D17F5
  All matters stood over to 22 March 2021 · Parties directed to obtain instructions from the Registrar 48 hours before the listed date regarding video conference or physical hearing
  Appeal: Appeal Nos. 102, 44, 85, 178, 179, 180, 181, 235, 246 and 247 of 2020, and Appeal (L) Nos. 264, 265, 266 and 268 of 2020, with related delay applications, stood over to 22 March 2021 on 16 December 2020
• Alleged participation in a scheme involving preferential allotments, artificial price and volume manipulation, off-market transfers and dumping of Pine Animation Limited shares to generate fictitious LTCG.
  Common WTM order restraining appellants and six entities from accessing the securities market for five years · Shares and mutual fund units in demat accounts frozen for five years
  Appeal: Appeal Nos. 102, 44, 85, 178-181, 235, 246, 247, 571-573, 575 and 581 of 2020; delays condoned where applicable. Decision dated 08 June 2021; merits outcome not included in supplied text.
• SAT matter SATV-1E3FEC1D35CEDC7FC6CF5DC5
  All listed appeals and connected delay applications were stood over to 22 March 2021. · Parties were directed to take instructions from the Registrar 48 hours before the next date regarding video conference or physical hearing.
  Appeal: Appeal Nos. 102, 44, 85, 178, 179, 180, 181, 235, 246 and 247 of 2020, Appeal (L) Nos. 264-266 and 268 of 2020, and connected delay applications were adjourned to 22 March 2021; no merits disposal.
• SAT matter SATV-1B81E4A95B0087BFA3F7BB53
  All listed matters stood over to 22 March 2021 · Parties directed to take instructions from the Registrar 48 hours before the scheduled date regarding video conference or physical hearing
  Appeal: Appeal Nos. 102, 44, 85, 178, 179, 180, 181, 235, 246 and 247 of 2020, Appeal (L) Nos. 264-266 and 268 of 2020, with connected delay applications; adjourned to 22 March 2021
• Alleged participation in a scheme involving preferential allotment, artificial price/volume inflation and sale of Pine Animation Limited shares, generating ill-gotten gains and fictitious LTCG.
  Appeals challenged the WTM order dated November 18, 2019 restraining appellants and six entities from accessing the securities market for five years. · Shares and mutual fund units in demat accounts were frozen for five years.
  Appeal: Appeal Nos. 102, 44, 85, 178-181, 235, 246, 247, 571-573, 575 and 581 of 2020 were heard together; decision dated 8 June 2021. Final disposal outcome is not included in the provided text.
• SAT matter SATV-2BEBB421EEF40E724833D99D
  Hearing adjourned and matters listed on Monday, 3 May 2021. · Parties directed to take instructions from the Registrar 48 hours before the listed date regarding video or physical hearing.
  Appeal: Multiple appeals and delay applications were listed; hearing adjourned on 30 April 2021 to 3 May 2021. No disposal on merits.
• Alleged pump-and-dump scheme in Pine Animation Ltd to generate fictitious Long Term Capital Gains and convert unaccounted income to tax-free accounted income via preferential allottees acting in concert with promoter entities and exit providers.
  Restraining appellants and six entities from accessing securities market for five years per WTM order · Freezing shares and mutual fund units lying in demat accounts for five years per WTM order
  Appeal: Group Appeals Nos. 102,44,85,178,179,180,181,235,246,247,571,572,573,575,581 of 2020; Order Reserved 05.05.2021, Date of Decision 08.06.2021; delay condoned
• Alleged concerted scheme of preferential allotment, artificial price pumping and managed exit to generate fictitious Long Term Capital Gains and convert unaccounted income into tax-exempt accounted income.
  Restraining appellants and six entities from accessing securities market for 5 years · Freezing shares and mutual fund units in demat accounts for 5 years
  Appeal: Group Appeals Nos. 102,44,85,178,179,180,181,235,246,247,571,572,573,575,581 of 2020 vs WTM order 18.11.2019; reserved 05.05.2021, decided 08.06.2021; delay condoned
• Alleged participation in a scheme involving preferential allotments, artificial price and volume manipulation, off-market transfers and subsequent market sales to generate fictitious LTCG and provide exits to preferential allottees.
  Appeals challenged the WTM order restraining appellants and six entities from accessing the securities market for five years. · Shares and mutual fund units in demat accounts were frozen for five years.
  Appeal: Appeal Nos. 102, 44, 85, 178-181, 235, 246, 247, 571-573, 575 and 581 of 2020; decision dated 08 June 2021; challenged WTM order dated 18 November 2019.
• SAT matter SATV-3E1DA324BFE8EF67C14F4E2F
  Hearing adjourned; matters directed to be listed on Monday, 3 May 2021. · Parties directed to obtain instructions from the Registrar 48 hours before the next hearing regarding video or physical hearing.
  Appeal: Multiple appeals listed together; no disposal on merits. Hearing adjourned on 30 April 2021 to 3 May 2021.
• Alleged promoter-related beneficiaries of Pine Animation Ltd part of fraudulent scheme misusing stock exchange for tax evasion, buying off-market for ~Rs 96.3 lakh and selling on-market for ~Rs 8.49 cr to book ~Rs 7.53 cr profit at manipulated price.
  Appeal Nos. 326 to 332 of 2016 dismissed with no order as to costs · Appellants permitted to raise all contentions in reply to show cause notice dated 06.12.2017 before WTM of SEBI
  Appeal: Appeal Nos. 326 to 332 of 2016 decided and dismissed on 15.12.2017 with no order as to costs
• Alleged concerted pump-and-dump in Pine Animation Ltd to provide exit to preferential allottees and generate fictitious Long Term Capital Gains to convert unaccounted income tax-free.
  Restrain appellants and six entities from accessing securities market for 5 years · Freeze shares and mutual fund units in demat accounts for 5 years
  Appeal: Group Appeals Nos. 102,44,85,178,179,180,181,235,246,247,571,572,573,575,581 of 2020 against WTM order dated 18.11.2019; reserved 05.05.2021, decided 08.06.2021
• Alleged fictitious Long Term Capital Gains scheme in Pine Animation Ltd via preferential allotments, artificial price pump and exit providers to convert unaccounted income to tax-exempt income.
  WTM restraint on appellants and six entities from accessing securities market for 5 years · Freezing of shares and mutual fund units in demat accounts for same 5-year period
  Appeal: Group Appeals Nos. 102,44,85,178,179,180,181,235,246,247,571,572,573,575,581 of 2020; Order reserved 05.05.2021, Date of Decision 08.06.2021; delay condoned
• SAT matter SATV-CBDC69A9258BC863D71D4DCA
  Appeal Nos. 116 to 122 of 2016 disposed of with no order as to costs · WTM, SEBI to pass appropriate order within eight weeks from 15.07.2016
  Appeal: Appeal Nos. 116,117,118,119,120,121 and 122 of 2016 disposed of on 15.07.2016 with no order as to costs
• Alleged part of fraudulent scheme misusing stock exchange platform for tax evasion; promoter-related entities bought Pine Animation Ltd shares off-market and sold on-market for Rs 7.53 cr profit after price manipulation.
  Appeal Nos. 326 to 332 of 2016 dismissed with no order as to costs · Appellants permitted to raise all contentions in reply to show cause notice dated 06.12.2017 before WTM of SEBI
  Appeal: Appeal Nos. 326 to 332 of 2016 disposed/dismissed on 15.12.2017
• Alleged pump-and-dump scheme in Pine Animation Ltd to provide exit to preferential allottees and generate fictitious Long Term Capital Gains for tax-free conversion of unaccounted income.
  WTM order dated November 18, 2019 restraining appellants and six entities from accessing securities market for five years · Freezing of shares and mutual fund units lying in their demat accounts for five years
  Appeal: Group Appeals Nos.102,44,85,178,179,180,181,235,246,247,571,572,573,575,581 of 2020 against WTM order dated 18.11.2019; Order Reserved 05.05.2021, Date of Decision 08.06.2021
• Alleged concerted scheme of preferential allotment, price pump and exit to generate fictitious LTCG and convert unaccounted income into tax-free gains.
  Restraint from accessing securities market for 5 years · Freezing of shares and mutual fund units in demat accounts for 5 years
  Appeal: Group Appeals 102,44,85,178,179,180,181,235,246,247,571,572,573,575,581 of 2020 vs WTM order 18 Nov 2019; reserved 05.05.2021, decided 08.06.2021; delay condoned
• Appellants were alleged to be promoter-related entities/beneficiaries connected with a fraudulent scheme involving manipulation of Pine Animation Ltd.'s share price and misuse of the stock exchange platform for tax evasion.
  All Appeals Nos. 326 to 332 of 2016 dismissed · Appellants may raise all contentions in replies to SEBI's show-cause notice before the WTM
  Appeal: Appeal Nos. 326 to 332 of 2016 dismissed by SAT on 15 December 2017.
• Alleged concerted scheme in Pine Animation Ltd to allot preferential shares, artificially pump price and provide exit to generate fictitious Long Term Capital Gains for tax-free conversion of unaccounted income.
  WTM restrained appellants and six entities from accessing securities market for 5 years · WTM froze shares and mutual fund units in demat accounts for same 5-year period
• Alleged misuse of stock exchange platform for tax evasion via price manipulation; promoter-related beneficiaries bought Pine Animation shares off-market and sold on-market at inflated prices for wrongful profit.
  Appeals dismissed with no order as to costs · Appellants permitted to raise all contentions in reply to SCN dated 06.12.2017 before WTM for final order
  Appeal: Appeal Nos. 326 to 332 of 2016 dismissed by SAT on 15.12.2017 with no order as to costs
• Alleged part of fraudulent tax-evasion scheme misusing stock exchange platform; promoter-related beneficiaries bought Pine Animation Ltd shares off-market and sold on-market after price manipulation for Rs 7.53 crore profit.
  Appeals No. 326 to 332 of 2016 dismissed with no order as to costs · Appellants permitted to raise all contentions in reply to show cause notice before WTM of SEBI
  Appeal: Appeal Nos. 326, 327, 328, 329, 330, 331 and 332 of 2016 disposed/dismissed by SAT on 15.12.2017
• Devising scheme via preferential allotments, stock split and artificial price pump to provide exit to preferential allottees and generate fictitious Long Term Capital Gains for converting unaccounted income to tax-free accounted income in Pine Animation Ltd.
  Restraining appellants and six entities from accessing securities market for 5 years vide WTM order dated 18 November 2019 · Freezing shares and mutual fund units lying in demat accounts for same 5 year period
  Appeal: Appeal Nos. 102, 44, 85, 178, 179, 180, 181, 235, 246, 247, 571, 572, 573, 575 and 581 of 2020 against WTM common order dated 18 November 2019; Order Reserved on 05.05.2021, Date of Decision 08.06.2021; delay condoned
• Alleged promoter-related beneficiaries of Pine Animation Ltd misusing stock exchange platform to evade tax and book illegitimate gains via price manipulation and exit providers.
  Appeals No. 326 to 332 of 2016 dismissed with no order as to costs · Interim restraint from accessing securities market and buying/selling/dealing continued till further directions
  Appeal: Appeal Nos. 326 to 332 of 2016 dismissed by SAT order dated 15.12.2017
• Alleged scheme in Pine Animation Ltd to allot preferential shares, artificially pump price and provide exit to generate fictitious tax-free Long Term Capital Gains and launder black money.
  WTM restrained appellants and six entities from accessing securities market for 5 years · WTM froze shares and mutual fund units in their demat accounts for 5 years
  Appeal: Group Appeals Nos. 102,44,85,178,179,180,181,235,246,247,571,572,573,575,581 of 2020 reserved 05.05.2021 decided 08.06.2021
• Alleged part of fraudulent scheme misusing stock platform for tax evasion via Pine Animation Ltd: off-market purchase then on-market sale at manipulated price earning Rs 7.53 crore profit.
  Appeal Nos. 326 to 332 of 2016 dismissed with no order as to costs · Appellants permitted to raise all contentions in reply to show cause notice dated 06.12.2017 before WTM of SEBI
• Alleged scheme of preferential allotment, price pumping and dumping to generate fictitious tax-exempt Long Term Capital Gains and launder black money.
  Restraint from accessing securities market for period of five years · Freezing of shares and mutual fund units lying in demat accounts for same period
  Appeal: SAT Appeals Nos. 102, 44, 85, 178, 179, 180, 181, 235, 246, 247, 571, 572, 573, 575, 581 of 2020 - Order Reserved 05.05.2021, Date of Decision 08.06.2021