https://www.taxtmi.com/caselaws?id=781740 SAT upheld SEBI's interim order concerning fraudulent preferential allotment, manipulation of financial statements, and unlawful gains in relation to shares of SSSL. It found that promoters and related entities obtained a massive number of shares without genuine cash consideration through a circular funding arrangement and subsequent bonus and split issues, and misrepresented financials by inflating purchases and sales via bogus entities. SAT held that the appellants failed to rebut SEBI's detailed findings or provide a credible explanation, including regarding alleged land transactions, and noted their non-disclosure of assets. Concluding that investor protection warranted non-interference, SAT dismissed the appeal and allowed SEBI to continue adjudication. en-us Fri, 02 May 2025 00:00:00 +0530 Thu, 20 Nov 2025 14:30:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781740 SAT upheld SEBI's interim order concerning fraudulent preferential allotment, manipulation of financial statements, and unlawful gains in relation to shares of SSSL. It found that promoters and related entities obtained a massive number of shares without genuine cash consideration through a circular funding arrangement and subsequent bonus and split issues, and misrepresented financials by inflating purchases and sales via bogus entities. SAT held that the appellants failed to rebut SEBI's detailed findings or provide a credible explanation, including regarding alleged land transactions, and noted their non-disclosure of assets. Concluding that investor protection warranted non-interference, SAT dismissed the appeal and allowed SEBI to continue adjudication. Case-Laws SEBI Fri, 02 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781740