Weird Infrastructure Corporation Limited

SAT-appeal

• SEBI directed WICL and its directors to refund monies collected through issuance of secured non-convertible redeemable debentures, with interest. The appellants denied being directors and challenged the ex-parte proceedings.
  Impugned WTM order dated 24 July 2015 quashed and set aside insofar as it related to Bimal Kumar Jha and Rakesh Kumar · WTM directed to issue show-cause notices if deemed fit and pass appropriate orders after giving the appellants an opportunity of hearing
  Appeal: Appeal Nos. 527 and 528 of 2015 decided by SAT on 23 February 2016; impugned WTM order set aside as against the appellants and matters remitted for due process.
• Weird Industries Ltd and Weird Infrastructure Corp Ltd collected monies from investors leading to WTM refund orders; appellant alleges actual collections far exceed recovery certificate amounts.
  Appeal disposed with no order as to costs · SEBI to dispose appellant's representations within 3 months
  Appeal: Appeal No.257 of 2017 disposed on 26.10.2017 with no order as to costs