years. Further, the WTM of SEBI has directed the appellants to disgorge
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the unlawful gains made by each appellant as more particularly ... years and
whether, the quantum of unlawful gain directed to be
disgorged by each appellant jointly and severally with
Mr. B. Ramalinga Raju
order which was later confirmed. The first appellant was also directed to
disgorge a sum of Rs.12,02,302 and interest thereon ... further direction was issued that in case
the first appellant failed to disgorge the amount, it shall remain out of the securities
market for another
Rakesh Agrawal vs Securities Exchange Board Of India on 3 November, 2003
Equivalent citations: (2004
Appeal
No. 41 of 2014, the interest is demanded on the disgorgement amount
6
from the date of the disgorgement order till payment ... further period of 45 days from
21.07.2009 and directed the appellants to disgorge
unlawful gain of `4.05 crore with interest amounting
to `1.95 crore calculated
said order, inter
alia, the appellants have been directed to disgorge, jointly and
severally, an amount of US $ 92 million along with simple
interest ... second direction in the
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impugned order, that is the direction to disgorge an amount of
US $ 92 million along with interest. The first direction
Exchange Board of India (for short the Board) directing the appellants
to disgorge unlawful gain of ` 60,72,000 each and also ... Board
issued a fresh show-cause notice on February 29, 2008 initiating disgorgement
proceedings against the appellants under Sections
dealing in securities and why she should not be called upon to disgorge an amount of
Rs.33,52,636/- which was the illegal gain ... order dated October 31, 2008
he directed the appellant to disgorge the aforesaid amount with interest @ 10% and
taking note of the period of prohibition
five years. Further, the appellants in these
appeals were directed to disgorge an amount of Rs. 95,77,614/-
alongwith interest at the rate ... Regulations 3
and 4 were not proved and, therefore, the order of disgorgement and
debarment was passed.
18. We have heard Mr. Gaurav Joshi
such as restraint from
dealing in the securities market directly or indirectly / disgorgement of the
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unlawful gains made / direction to make an open offer ... market for the period of three
years and have been directed to disgorge their unlawful gains. In addition to
the above directions, those
Bhargav Panchal, Mr. Bhargav
Ranchhodlal Panchal, and Mr. Arjav
Nareshbhai Panchal shall disgorge the
unlawful gain and shall also pay simple
interest at the rate ... Noticee Unlawful gain Interest on Amount to be
No unlawful gain disgorged
.
1. Ms. Roopalben
