Zenith Technologies Pvt. Ltd.

2 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Continued para 25(i) restraint on six promoters from accessing/dealing in securities market

SAT-appeal

Zenith defaulted on US$33 mn (2011) and US$50 mn (2012) FCCB redemptions; SEBI directed deposit/bank guarantee of US$33.93 mn.
Misc. Application No. 88 of 2014 dismissed · Misc. Application No. 130 of 2014 dismissed
Appeal: SEBI Civil Appeal No. 7134 of 2013 against SAT order 23 July 2013 disposed as infructuous by Supreme Court on 19 August 2014; Appeal No. 72 of 2014 pending
Alleged diversion of USD 33.93 million sale proceeds of MSD Division by ZIL promoters/board, prejudicial to investors and market integrity, pending investigation.
SAT admitted Appeal No.59 of 2013; allowed intervention by QVT and Quintessence · Stayed operation of impugned para 25(ii) bank guarantee during pendency of appeal

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Source: SecMarx — Zenith Technologies Pvt. Ltd.. 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.