Alliance Capital Asset Management (India) Private Limited
Penalties and directions recorded
- Adjudicating Officer order dated 18.8.2004 held ACAML and ACM jointly and severally liable for Rs 15 crores penalty; no penalty direction against Fund to protect unit holders
SAT-appeal
- CIO Samir Arora allegedly depressed BTL, HTMT, Mastek, UPL by Fund selling then bought cheap for ACM sub-accounts, and insider-traded DGL May 8-12, 2003; appellants held vicariously liable.Adjudicating Officer order dated 18.8.2004 held ACAML and ACM jointly and severally liable for Rs 15 crores penalty; no penalty direction against Fund to protect unit holders
- Failure to disclose under Regulation 7 when combined holdings of Fund and FII sub-accounts exceeded 5% in five target companies.Appeal: Appeal No. 132 of 2004 under Section 15T against AO order dated 12 May 2004; date of decision 1.11.2007
Source: SecMarx — Alliance Capital Asset Management (India) Private Limited. 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.