Uves Yunus Sareshwala
Penalties and directions recorded
- WTM restrained Parsoli, Zafar Sareshwala and Uves Sareshwala from accessing or dealing in the securities market for seven years from 27 July 2010.
- WTM restrained Zafar Sareshwala and Uves Sareshwala from serving as directors of listed companies for seven years from 27 July 2010.
- Zafar and Uves were directed to make a public offer to acquire shares from public shareholders at the valuer-determined price within three months.
- BSE was directed to facilitate valuation and compulsorily delist Parsoli if public shareholding fell below the minimum level.
SAT-appeal
- Fraudulent transfer and dematerialisation of 80,800 shares belonging to 252 shareholders using forged signatures and fake or duplicate certificates; failure to maintain transfer work at a single point and failure to cooperate with SEBI investigation.WTM restrained Parsoli, Zafar Sareshwala and Uves Sareshwala from accessing or dealing in the securities market for seven years from 27 July 2010. · WTM restrained Zafar Sareshwala and Uves Sareshwala from serving as directors of listed companies for seven years from 27 July 2010.Appeal: Appeal No. 146 of 2010; decision dated 12 August 2011. The order also disposed of Appeals 112, 113, 145, 150 of 2010 and 77, 80, 81, 82 of 2011; earlier dismissal of five appeals was set aside by the Supreme Court on 2 May 2011 for separate disposal.
- Appeal against SEBI's restraint order and handling of complaints concerning alleged forged transfers, refusal to dematerialize shares, and alleged portfolio management activities.Appeal dismissed · No order as to costsAppeal: Appeal No. 40 of 2009 dismissed by SAT on 30 June 2009; SAT held that the appellant lacked locus standi.
Source: SecMarx — Uves Yunus Sareshwala. 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.