0164-2007 Vidyut Investments Limited vs Securities and Exchange Board of India

SAT · Final order

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“Given the fact that there was enormity of market manipulation by Shri Ketan Parekh and his related entities in certain scrips and that Shri Ketan Parekh and his related entities could not have manipulated the market to such huge proportions alone, it stands to reason that the entities who had direct dealings with KP entities can’t escape their responsibility on the plea that they were not aware of Shri Ketan Parekh’s manipulative intentions in the market. There can be no direct evidence in the context of market operations as to whether there was a constructive knowledge on the

BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Appeal No. 164 of 2007 Date of decision : 29.7.2008 Vidyut Investments Limited …… Appellant Versus

Securities and Exchange Board of India …… Respondent Mr. Cicur Mukhopadhya and Mr. Prashant Mehta Advocates for the Appellant. Mr. Rafique Dada Senior Advocate with Dr. Mrs. Poornima Advani and Ms. Sejal Shah Advocates for the Respondent. Coram : Justice N.K. Sodhi, Presiding Officer Arun Bhargava, Member Utpal Bhattacharya, Member Per : Justice N.K. Sodhi, Presiding Officer Vidyut Investments Limited which is a 100 per cent subsidiary of Ranbaxy

Source: SecMarx — 0164-2007 Vidyut Investments Limited vs Securities and Exchange Board of India. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.