V. S. Prabhakara Gupta

SAT-appeal

• Alleged fraudulent and unfair trade practices and insider trading arising from manipulation of Satyam’s accounts, creation of fictitious cash and bank balances, and sale or pledge of Satyam shares during 2001–2008.
  Appeals against the WTM order dated 15 July 2014 were heard together and disposed of by this common decision. · WTM directions under challenge included a 14-year restraint from accessing the securities market and dealing in securities.
  Appeal: Appeal Nos. 282, 284, 285, 286 and 287 of 2014; common SAT decision dated 12 May 2017, reserved on 5 May 2017
• Large-scale accounting fraud in Satyam inflating cash/bank balances, revenues, margins and debtors from 2001-2008 and sale/pledge of shares on basis of false books violating PFUTP and PIT Regulations.
  Restraint from accessing securities market and prohibition from buying, selling or dealing in securities directly or indirectly for 14 years · Disgorgement of unlawful gains on sale/pledge of Satyam shares during 2001-2008 as per para 140 of WTM order with 12% p.a. interest from 07.01.2009 till payment
• Alleged fraudulent and unfair trade practices and insider trading in connection with Satyam’s falsified accounts, including sale/pledge of Satyam shares while possessing undisclosed information about the accounting fraud.
  Appeals Nos. 286, 287, 284, 282 and 285 of 2014 were heard together and disposed of by the common SAT decision. · Challenge concerned the WTM order dated 15 July 2014 restraining appellants from accessing the securities market and dealing in securities for 14 years.
  Appeal: Appeal Nos. 286, 287, 284, 282 and 285 of 2014 decided by SAT on 12 May 2017; appeals arose from the WTM order dated 15 July 2014.
• Large-scale accounting fraud at Satyam with inflated cash, bank, FD, debtor, revenue and profit figures during 2001-2008 and sale/pledge of shares while publishing false financials.
  Restrain appellants from accessing the securities market · Prohibit appellants from buying, selling or otherwise dealing in securities directly or indirectly for 14 years
• Large-scale accounting fraud inflating cash, bank, FDs, debtors and profits 2001-2008 and sale/pledge of Satyam shares while concealing fraud, violating PFUTP and PIT Regulations 1992.
  Restrain appellants from accessing securities market and buying/selling/dealing in securities for 14 years · Disgorge unlawful gains on sale/pledge of Satyam shares 2001-2008 as per para 140 of WTM order with 12% p.a. interest
  Appeal: Appeal Nos. 282, 284, 285, 286, 287 of 2014 against WTM order 15.07.2014; reserved 05.05.2017, decided 12.05.2017