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
8
impugned order, that is the direction to disgorge an amount of
US $ 92 million along with interest. The first direction
31st October, 2008. By order dated 31st October, 2008
appellant was to disgorge unlawful gain of ` 72 lakhs with interest
2
thereon at the rate ... August, 2005) of
the IPO of IDFC Limited till actual disgorgement.
2. Facts relevant to the case of appellant who is an individual
investor
examine the feasibility of quantifying the ill-gotten
gains, if any, and disgorgement of the same and, thereafter, consider restitution
to the complainants in accordance ... compensation was concerned, it could only be given through the process of
disgorgement, if justified by the facts and circumstances of the case. He,
accordingly
manner, whatsoever for a
period of 14 years.
b) The appellants shall disgorge the wrongful gains made
by them alongwith simple interest at the rate ... payment as
detailed hereinbelow :-
7
Sr. Noticee Illegal Gain to be
No. disgorged (in Rs.)
(rounded of to the nearest
integer)
1. B. Ramalinga Raju
years. Further, the WTM of SEBI has directed the appellants to disgorge
6
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
orders of penalty issued under the Act and/or
orders of disgorgement of unlawful gains, when the said
amounts have remained unpaid. In the penalty ... SEBI who is before us as appellant, whereas in the
disgorgement case, it is private individuals who are before us.
2. First, the facts
Rakesh Agrawal vs Securities Exchange Board Of India on 3 November, 2003
Equivalent citations: (2004
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
Rakesh Agrawal vs Securities Exchange Board Of India on 1 November, 2003
ORDER
C. Achuthan
