Vivek Sarangdhar Nirmal

SAT-appeal

• SAT matter SATV-896705CFF9EB80E694809AD0
  Review Application No. 11 of 2020 dismissed with no order as to costs · Tribunal order is clear and requires no clarification
  Appeal: Review Application No. 11 of 2020 in Appeal No. 413 of 2020 dismissed on 09.02.2021 (reserved 18.01.2021); Appeal No. 413 of 2020 had been allowed setting aside WTM order
• Prima-facie lack of trail/utilisation of sale proceeds, non-distribution to shareholders and delisting floor price not commensurate with funds, indicating possible diversion and need for forensic audit.
  PDL to deposit Rs 1292.46 cr in interest-bearing Special Escrow Account in nationalised bank · Audit Committee to monitor escrow creation/funding; JM Financial to monitor operations till audit ends
• Irregularities in distribution of sale proceeds to public shareholders on sale of wholly owned subsidiary and dairy business and in delisting of equity shares including manipulation in books of accounts.
  Appeal partly allowed · SEBI to provide to appellants copies of all SCNs issued emanating from same cause of action
  Appeal: Appeal No. 258 of 2024 with Misc. Application No. 385 of 2024 partly allowed on 22.05.2024