Zafar 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
- Failure to make a required open offer in 2010; penalty proceedings resulted in monetary penalty and disgorgement.Matter adjourned by consent to 20 August 2025 · Appellants to complete instructions regarding deletion of Respondent No. 2 from the array of partiesAppeal: Appeal No. 250 of 2025, with Misc. Applications Nos. 320 and 398 of 2025; order dated 12 August 2025; adjourned to 20 August 2025
- SAT matter SATV-12A4C76D0DD527DFECD47E81Respondent's request for adjournment was granted · Matter was adjourned and listed on 17 June 2025Appeal: Appeal No. 250 of 2025 was pending; adjourned on 2 June 2025 to 17 June 2025
- 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.
- SAT matter SATV-9635C3D7A4F7F6B24AFEE9DEAdjournment granted on appellants request; matter listed on June 11, 2026Appeal: Appeal No. 250 of 2025 with Misc. Application Nos. 1187 and 1188 of 2025 pending; adjourned to June 11, 2026 on appellants request
- SAT matter SATV-BBFC15316800F3E67BBA0FCCAdjourned by consent; matter to be called on August 6, 2025Appeal: Appeal No. 250 of 2025 pending before SAT; adjourned to August 6, 2025
- SAT matter SATV-6B0E0E0D0AD7917FFF9BBAA0Appeal and connected miscellaneous applications were listed for further hearing on July 15, 2026Appeal: Appeal No. 250 of 2025 was pending; order dated 11 June 2026 adjourned the matter to 15 July 2026
Source: SecMarx — Zafar 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.