Ashok Investors Trust Limited

SAT-appeal

• Executing synchronized reversal trades in illiquid BSE stock options with the same counterparties on the same day, creating artificial volumes and a false or misleading appearance of trading.
  Appeals challenged Adjudicating Officer penalty orders for PFUTP violations.
  Appeal: Appeal Nos. 212, 215, 229 and 379 of 2020; decision dated 14 September 2020. Outcome in the provided text is incomplete.
• SAT matter SATV-2DD54D74A6A2AB1D16DAE5F8
  Order reserved in the connected appeals · Parties directed to act on the digitally signed copy of the order
  Appeal: Appeal Nos. 215 of 2020, 229 of 2020 and 379 of 2019 were heard; order reserved on 04 September 2020.
• Execution of non-genuine reversal trades in illiquid BSE Stock Options creating false appearance and artificial volumes, violating PFUTP Regs 3-4.
  AO imposed Rs 6 lakhs on Global, Rs 5 lakhs on Pintail, Rs 25 lakhs on Blue Bull, Rs 8 lakhs on Ashok · All four appeals heard together and decided by common SAT order on common issue
  Appeal: Appeal Nos.212, 215, 229 and 379 of 2020 reserved on 1.9.2020/4.9.2020, decided 14.9.2020 by common SAT order
• SAT matter SATV-D369CD539103ADDB61FDAB0E
  Order reserved after hearing through video conference · Parties directed to act on digitally signed copy sent by fax and/or email
  Appeal: Appeal Nos. 215 of 2020, 229 of 2020 and 379 of 2019 heard on 04.09.2020; order reserved, not disposed
• Execution of non-genuine reversal trades with same entities on same day in illiquid Stock Options segment of BSE creating false appearance and artificial volumes, violating PFUTP Regulations 3 and 4.
  AO had imposed Rs 6 lakhs penalty on Global Earth Properties and Developers Pvt Ltd · AO had imposed Rs 5 lakhs penalty on Pintail Reality Developers Pvt Ltd
  Appeal: Appeal Nos 212, 215, 229 and 379 of 2020 before SAT; reserved on 1.9.2020/4.9.2020, Date of Decision 14.9.2020
• SAT matter SATV-47C036B70103BCEEF9D548FE
  Order reserved after hearing counsel for appellants and respondent · Parties directed to act on digitally signed copy sent by fax and/or email
  Appeal: Appeal Nos. 215 of 2020, 229 of 2020 and 379 of 2019 heard on 04.09.2020; order reserved, not finally disposed
• Execution of non-genuine reversal trades in illiquid BSE Stock Options creating artificial volumes and false/misleading appearance of trading.
  AO had imposed Rs 6 lakhs penalty on Global (impugned before SAT) · AO had imposed Rs 5 lakhs penalty on Pintail (impugned before SAT)
  Appeal: Appeal Nos. 212, 215, 229 and 379 of 2020 before SAT, reserved 1.9.2020/4.9.2020, decided 14.9.2020