Zenith Steel Pipes and Industries Limited

SAT-appeal

• SAT matter SATV-18D9681AD3BB36EAE0B00ADC
  Appeals adjourned on the request of the appellants' counsel · Matters listed for 29 June 2022
  Appeal: Appeal Nos. 533, 554, 555 and 657 of 2021 were adjourned on 13 May 2022 and listed for 29 June 2022; no disposal on merits stated.
• Fraudulent GDR issuance: the entire issue was subscribed by Vintage using a Euram Bank loan secured by pledge of the GDR proceeds, while disclosures allegedly misled investors and omitted the financing and pledge arrangements.
  WTM market-access restraint against the company for three years · WTM market-access restraint against the Chairman and Managing Director for one year each
  Appeal: Appeal Nos. 554/2021, 555/2021, 657/2021, 373/2022, 633/2022 and 634/2022, with connected Misc. Application No. 929/2022; decision dated 21 February 2023. Appeal No. 635/2022 is also listed; the supplied text does not contain the final operative disposal.
• Alleged fraudulent GDR issuance: the entire issue was subscribed by Vintage using a Euram Bank loan secured by pledge of the GDR proceeds, while disclosures to investors, stock exchanges and SEBI omitted or misstated these facts.
  Appeals against the WTM and AO orders were considered together; the impugned restraints and penalties were challenged as harsh and excessive.
  Appeal: Appeal Nos. 554 of 2021, 555 of 2021, 657 of 2021, 373 of 2022, 633 of 2022, 634 of 2022 and 635 of 2022 decided by SAT on February 21, 2023; Misc. Application No. 929 of 2022 also listed.
• SAT matter SATV-39F478F0CCCFCD6B34200E0D
  Connect Appeal Nos. 554 and 555 of 2021 with Appeal No. 533 of 2021 (Arun Panchariya vs SEBI) · List matters on October 22, 2021
  Appeal: Appeal Nos. 554 of 2021 and 555 of 2021 pending before SAT; connected with Appeal No. 533 of 2021 and adjourned to October 22, 2021 for reply/rejoinder
• SAT matter SATV-4633912711FCD9A9C842DB84
  Appeals adjourned on request of the appellants' counsel. · Matters listed for 29 June 2022.
  Appeal: Appeal Nos. 533, 554, 555 and 657 of 2021 were adjourned on 13 May 2022 and listed for 29 June 2022.
• SAT matter SATV-C5A54666453D07FD0CB7C981
  Adjourned on request of learned counsel for appellant · List on June 29, 2022
  Appeal: Misc. Application No. 707 of 2021 and Appeal Nos. 533, 554, 555, 657 of 2021 pending before SAT; adjourned to June 29, 2022 vide order dated 13.05.2022
• SAT matter SATV-F3E7D61845377492EAB70B8D
  Connect with Appeal No. 533 of 2021 (Arun Panchariya vs SEBI) and list on October 22, 2021 · Respondent SEBI may file reply within three weeks from 27.08.2021
  Appeal: Appeal No. 554 of 2021 and Appeal No. 555 of 2021 pending; connected with Appeal No. 533 of 2021, next listed 22.10.2021
• Fraudulent GDR issue of USD 22.99 million subscribed solely by Vintage FZE via Euram Bank loan secured by pledge of GDR proceeds, with misleading disclosure of successful issue.
  WTM restrained Company from accessing securities market for 3 years · WTM restrained Chairman and Managing Director from accessing securities market for 1 year each
  Appeal: Appeal Nos. 554,555,657/2021 and 373,633,634,635/2022 with MA 929/2022; reserved 03.01.2023 decided 21.02.2023
• SAT matter SATV-EB3C7CDCA3A58D2A76AD85FF
  Adjourned on the request of learned counsel for the appellant · List on December 20, 2022
  Appeal: Appeal Nos. 533/2021, 554/2021, 555/2021, 657/2021, 373/2022, 633/2022, 634/2022, 635/2022 adjourned on 30.11.2022, next date 20.12.2022
• SAT matter SATV-FF243B6857E3B298162DAF83
  Adjourned on request of learned counsel for the appellant · List on June 29, 2022
  Appeal: Appeal Nos. 533, 554, 555 and 657 of 2021 with Misc. Application No. 707 of 2021 adjourned, next date June 29, 2022