Ashesh Agarwal

15 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Impugned monetary penalties imposed by the Adjudicating Officer were challenged in the appeals.
Impugned adjudication order dated 30 May 2013 imposed penalties of Rs. 5 lakh and Rs. 10 lakh on each appellant.
AO imposed penalty of Rs 7 lakh on Ashesh Agarwal under Section 15HA
AO imposed penalty of Rs 7 lakh on Sanjeev Agarwal under Section 15HA
AO imposed penalty of Rs 8 lakh on Big Broker House Stock Ltd. under Section 15HA

SAT-appeal

Alleged manipulative, fraudulent and unfair trading in RCFL shares by contributing to new price highs, trading above the last traded price, and executing reversal/circular trades that created artificial volumes and price movement.
Common judgment disposed of Appeals Nos. 184, 185 and 202 of 2012
Appeal: Appeal Nos. 184, 185 and 202 of 2012 heard on 14 August 2013 and decided by common judgment dated 27 August 2013; outcome beyond the provided extract is not stated.
SAT matter SATV-07EDB22A94179F82A14AD1AA
Correction allowed: the show cause notice date in the common order dated 31 October 2013 is corrected from 28 June 2011 to 28 June 2012 · Correction applies to all appeals disposed of with Appeal No. 134 of 2013
Appeal: Misc. Application No. 44 of 2014 in Appeal No. 134 of 2013 disposed of on 21 March 2014; related Appeals Nos. 135, 136, 137, 139 and 140 of 2013 referenced
Alleged manipulative, fraudulent and unfair trading in RCFL through new-price-high trades, higher-than-last-traded-price orders, and reversal/circular trades creating artificial volumes and price manipulation.
Common judgment disposing of Appeals Nos. 184, 185 and 202 of 2012
Appeal: Appeal Nos. 184, 185 and 202 of 2012 heard on 14 August 2013 and decided by common judgment dated 27 August 2013; final disposition is not contained in the supplied text.
SAT matter SATV-1AF4DF75A4EE27C78D109C19
Miscellaneous Application No. 44 of 2014 disposed of · Typographical error corrected: show-cause notice date changed from June 28, 2011 to June 28, 2012
Appeal: Misc. Application No. 44 of 2014 in Appeal No. 134 of 2013, decided on 21 March 2014; correction also applied to Appeals 135, 136, 137, 139 and 140 of 2013.
Alleged circular/reversal trading and manipulation in RUNL shares creating artificial volumes, misleading appearance of trading and artificial prices; failure to comply with investigation summons and furnish information.
Appeals Nos. 134, 135, 136, 137, 139 and 140 of 2013 disposed of by common order at the admission stage
Appeal: Appeal Nos. 134, 135, 136, 137, 139 and 140 of 2013; heard on 17 October 2013 and decided on 31 October 2013; appellants absent at hearing but written submissions considered.
Alleged circular/reversal trading and manipulation in RUNL shares to create artificial volumes, false or misleading appearance of trading and influence price; failure to comply with SEBI investigation summons and information requests.
Appeals Nos. 134, 135, 136, 137, 139 and 140 of 2013 were disposed of by common order. · Impugned monetary penalties imposed by the Adjudicating Officer were challenged in the appeals.
Appeal: Appeal Nos. 134, 135, 136, 137, 139 and 140 of 2013; heard on 17 October 2013 and decision dated 31 October 2013
Alleged circular/reversal trading in RUNL shares to create artificial volumes, false or misleading appearance of trading and manipulate prices, along with failure to comply with SEBI summons and information requests.
Appeals Nos. 134, 135, 136, 137, 139 and 140 of 2013 were disposed of by common order. · Impugned adjudication order dated 30 May 2013 imposed penalties of Rs. 5 lakh and Rs. 10 lakh on each appellant.
Appeal: Appeal Nos. 134, 135, 136, 137, 139 and 140 of 2013 disposed of by SAT common order dated 31 October 2013.
SAT matter SATV-4448A3468B02CD0685CB770A
Correct SCN date in order dated 31.10.2013 from 28 June 2011 to 28 June 2012 · Correction to apply to all appeals disposed by common order with Appeal 134/2013
Appeal: Misc. Application No. 44 of 2014 in Appeal No. 134 of 2013 decided 21.03.2014; common SAT order dated 31.10.2013 disposed Appeals 134,135,136,137,139,140 of 2013
Alleged contribution to new price high, trades above last traded price and reversal/circular trades creating artificial volumes and manipulating price of Rich Capital and Financial Services Ltd.
AO imposed penalty of Rs 7 lakh on Ashesh Agarwal under Section 15HA · AO imposed penalty of Rs 7 lakh on Sanjeev Agarwal under Section 15HA
Appeal: Appeal Nos. 184, 185 and 202 of 2012 under Section 15T heard together on 14.08.2013, decided on 27.08.2013
SAT matter SATV-69CA810DD62EA77C90B3FC38
Correct SCN date in common order dated 31 Oct 2013 from 28 June 2011 to 28 June 2012 for all linked appeals · Misc. Application No. 44 of 2014 disposed of with no order as to costs
Appeal: Misc. Application No. 44 of 2014 in Appeal No. 134 of 2013 disposed on 21.03.2014; common SAT order dated 31.10.2013 in Appeals 134,135,136,137,139,140 of 2013
Connected group allegedly did circular/reversal trades in RUNL shares to create artificial volume/price and false appearance of trading, plus failed to comply with investigation summons under Sec 11C(2)/(3).
AO order dated May 30, 2013 imposed Rs 5 lakh penalty on each of six appellants aggregating Rs 30 lakh under Sec 15HA for FUTP violations · AO order dated May 30, 2013 imposed Rs 10 lakh penalty on each of six appellants aggregating Rs 60 lakh under Sec 15A(a) for Sec 11C(2)/(3) violations
Appeal: Appeal Nos. 134, 135, 136, 137, 139 and 140 of 2013 filed July 16, 2013 against AO order May 30, 2013; heard October 17, 2013, reserved for orders; decision dated October 31, 2013
SAT matter SATV-EF555C4277659C1ED5F4A10C
Show-cause notice date in common order dated 31 Oct 2013 corrected to June 28, 2012 · Misc. Application No.44 of 2014 disposed with no order as to costs
Appeal: Misc. Application No.44 of 2014 in Appeal No.134 of 2013 decided 21.03.2014; Appeals 134,135,136,137,139,140 of 2013 disposed by common SAT order dated 31.10.2013
Connected entities allegedly did circular/reversal trading in Rich Capital and Financial Services Ltd (RUNL) to create artificial volume/price and false appearance of trading, plus failure to comply with summons under Section 11C(2)/(3).
Rs 5 lakh penalty on each of six appellants under Section 15HA for FUTP violations (total Rs 30 lakh) · Rs 10 lakh penalty on each of six appellants under Section 15A(a) for Section 11C(2)/(3) violations (total Rs 60 lakh)
Appeal: Appeal Nos. 134, 135, 136, 137, 139 and 140 of 2013 filed 16 July 2013 against AO order dated 30 May 2013; heard 17 Oct 2013, decision dated 31 Oct 2013
SAT matter SATV-FF577CD4064FF4DFCA1A7BCA
Correct SCN date in Oct 31, 2013 order from June 28, 2011 to June 28, 2012 · Correction to apply to all appeals disposed of with Appeal No. 134 of 2013
Appeal: Misc. Application No. 44 of 2014 in Appeal No. 134 of 2013 disposed of on 21.03.2014 correcting common order dated 31.10.2013 in Appeals 134,135,136,137,139,140 of 2013
Circular/reversal trading among connected entities to create artificial volume/price and false appearance in RUNL shares; failure to comply with investigation summons under Section 11C.
Penalty of Rs 5 lakh on each of six appellants under Section 15HA totalling Rs 30 lakh for FUTP violations · Penalty of Rs 10 lakh on each of six appellants under Section 15A(a) totalling Rs 60 lakh for Section 11C(2)/(3) violation
Appeal: Appeal Nos. 134,135,136,137,139,140 of 2013 before SAT; hearing 17.10.2013, decision 31.10.2013 against AO order 30.05.2013

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Source: SecMarx — Ashesh Agarwal. 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.