Arihant Capital Markets Limited

5 matters before the Securities Appellate Tribunal

Penalties and directions recorded

AO penalty Rs.10 lakh on Badri Lal Birla under challenge in Appeal 524/2019
AO penalty Rs.6 lakh on Chandrakanta Laddha under challenge in Appeal 601/2019
AO penalty Rs.5 lakh on Arihant Capital Markets Ltd under challenge in Appeal 334/2020
WTM restrained Badri Lal Birla and Chandrakanta Laddha from securities market for 5 years
AO penalty Rs.10 lakh on Badri Lal Birla

SAT-appeal

Artificial raising of Moryo Industries Ltd price via miniscule buy/sell orders contributing to positive LTP; Arihant charged with failure to exercise due care and diligence as broker for Birla.
WTM 5-year restraint from securities market under challenge in Appeal 605/2019 · AO penalty Rs.10 lakh on Badri Lal Birla under challenge in Appeal 524/2019
Appeal: SAT Appeals 524/2019, 605/2019, 601/2019, 334/2020 heard together; Reserved 22.12.2020, Decided 24.03.2021; Appeal 605/2019 filed with 254 days delay
SEBI directed that promoter and promoter-group unsecured loans could not be adjusted against allotment of shares under the rights issue. The appeal challenged that direction.
Appeal against SEBI’s direction was heard on whether promoter-group unsecured loans could be adjusted against rights-issue share allotment.
Appeal: Appeal No. 34 of 2011, decided by the Securities Appellate Tribunal on 6 June 2011; outcome beyond the provided extract.
Artificially raising price of Moryo Industries Ltd scrip via miniscule buy/sell orders contributing to positive LTP; broker failed due care and diligence.
WTM restrained Badri Lal Birla and Chandrakanta Laddha from securities market for 5 years · AO penalty Rs.10 lakh on Badri Lal Birla
Appeal: Appeal Nos.524/2019, 605/2019, 601/2019 and 334/2020 disposed by common SAT decision dated 24.03.2021 reserved on 22.12.2020
Artificially raising price of Moryo Industries Ltd scrip in 2013-14 via miniscule buy/sell orders contributing to positive Last Traded Price (LTP); broker failure to exercise due care.
Appeal: Appeal Nos.524/2019,605/2019,601/2019,334/2020 heard together and disposed by common SAT decision dated 24.03.2021 (reserved 22.12.2020)
Artificial price rise in Moryo Industries Ltd in 2013-14 via miniscule buy/sell orders contributing to positive LTP; broker failed due care and diligence.
WTM restrained Badri Lal Birla and Chandrakanta Laddha from securities market for 5 years · AO penalty Rs.10 lakh on Badri Lal Birla
Appeal: Appeal Nos. 524/2019, 605/2019, 601/2019, 334/2020 disposed by common order; Reserved 22.12.2020, Decided 24.03.2021

Analyse these matters in Ontology · Plans

Source: SecMarx — Arihant Capital Markets 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.