Aaina Engineering Pvt. Ltd.

11 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Impugned AO penalty orders under Section 15HA upheld.
The AO penalty orders under Section 15HA were upheld
SEBI was encouraged to consider another settlement scheme for similar matters
All appeals Nos. 191-196, 206-209 of 2022 dismissed affirming AO penalty orders per Global Earth precedent
All appeals (Nos. 191-196, 206-209 of 2022) dismissed affirming AO penalty orders

SAT-appeal

Manipulative and fraudulent reversal trades in an illiquid stock-options market, allegedly creating predetermined losses or profits through non-genuine transactions.
All connected appeals, including Appeals Nos. 191-196 and 206-209 of 2022, dismissed. · Impugned AO penalty orders under Section 15HA upheld.
Appeal: Appeal Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208 and 209 of 2022 dismissed by SAT on 13 May 2022.
Manipulative and fraudulent reversal trades in an illiquid market, allegedly executed through prior meeting of minds at predetermined prices, violating PFUTP Regulations 3 and 4.
All appeals were dismissed · The AO penalty orders under Section 15HA were upheld
Appeal: Appeal Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208 and 209 of 2022 were dismissed on 13 May 2022
Matter arising from the illiquid stock option matter; no specific violation or charge is detailed in the review order.
Review application disposed of. · Applicant/appellant directed to file an appropriate settlement application before the concerned authority.
Appeal: Review Application No. 69 of 2022 in Appeal No. 196 of 2022 disposed of on 21 November 2022; appellant directed to pursue settlement.
Manipulative and fraudulent reversal trades in illiquid stock options, allegedly executed through prior matching of minds at predetermined prices, violating PFUTP Regulations.
All appeals were dismissed. · SEBI was encouraged to consider another settlement scheme for similarly situated noticees under Regulation 26 of the Settlement Regulations, 2018.
Appeal: Appeal Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208 and 209 of 2022 dismissed by SAT on 13 May 2022.
Non-genuine reversal trades in illiquid stock options to create artificial loss/profit, violative of Regulations 3 and 4 of PFUTP Regulations.
All appeals Nos. 191-196, 206-209 of 2022 dismissed affirming AO penalty orders per Global Earth precedent
Appeal: Appeal Nos. 191-196, 206, 207, 208, 209 of 2022 dismissed by SAT order dated 13.05.2022 (reserved 11.05.2022)
Execution and reversal of non-genuine trades in illiquid stock options to create artificial loss/profit, violating Regulation 3 and 4 of PFUTP Regulations.
All appeals (Nos. 191-196, 206-209 of 2022) dismissed affirming AO penalty orders · Tribunal observes SEBI should consider fresh settlement scheme under Regulation 26 for illiquid option cases
Appeal: Appeal Nos. 191-196 and 206-209 of 2022 reserved on 11.05.2022 and dismissed on 13.05.2022
Manipulative and fraudulent reversal trades in illiquid stock options, allegedly creating predetermined losses or profits through non-genuine transactions.
Appeals Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208 and 209 of 2022 dismissed. · AO penalty orders under Section 15HA for violations of PFUTP Regulations upheld.
Appeal: Appeal Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208 and 209 of 2022 dismissed by SAT on 13 May 2022.
Manipulative and fraudulent reversal trades in an illiquid stock-options market, allegedly executed through prior meeting of minds at predetermined prices, violating PFUTP Regulations.
All appeals, including Appeal Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208 and 209 of 2022, dismissed. · AO penalty orders under Section 15HA upheld.
Appeal: Appeal Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208 and 209 of 2022 dismissed on 13 May 2022.
Non-genuine reversal trades in illiquid stock options with prior meeting of minds to create artificial loss/profit, violating Reg 3 and 4 PFUTP.
Appeal Nos. 191-196 and 206-209 of 2022 dismissed · AO penalties under Section 15HA upheld per Global Earth Properties vs SEBI
Appeal: Appeal Nos. 191-196 and 206-209 of 2022 dismissed on 13.05.2022 (reserved 11.05.2022)
Execution of non-genuine reversal trades in illiquid stock options to create artificial profit/loss, violating Regulation 3 and 4 of PFUTP Regulations.
All appeals dismissed · AO orders imposing penalty under Section 15HA upheld
Appeal: Appeal Nos. 191-196, 206-209 of 2022 dismissed by SAT on 13.05.2022 (reserved 11.05.2022)
Non-genuine reversal trades in illiquid stock options creating artificial loss/profit in violation of PFUTP Regulations 3 and 4.
All appeals dismissed and AO penalty orders affirmed per Global Earth precedent
Appeal: Appeal Nos. 191-196 and 206-209 of 2022 dismissed by SAT on 13.05.2022 (reserved 11.05.2022)

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Source: SecMarx — Aaina Engineering 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.