Ashroj Credit India P. Ltd.

SAT-appeal

• SAT matter SATV-1B2BCD74AD2C735E614B2981
  Delay in filing the reply condoned and applications allowed · Rejoinder not filed by appellants
  Appeal: Appeal Nos. 129, 195, 319 and 320 of 2023 were heard in part on 10 May 2023 and adjourned to 11 May 2023; no final disposal recorded.
• SAT matter SATV-4EC6ED2F50E1DCAC6405236D
  Review Application No. 32 of 2023 dismissed · Miscellaneous Application No. 1412 of 2023 disposed of
  Appeal: Review Application No. 32 of 2023 in Appeal No. 319 of 2023 dismissed on 24 November 2023; Misc. Application No. 1412 of 2023 disposed of.
• Noticees 5 and 6 placed buy orders substantially above LTP in Patch 3 to inflate PFL price to enable Noticee 2 CMD to offload ~14000 shares; Noticee 3 alleged intermediary.
  CGM imposed Rs.10,00,000 under Sec.15HA for PFUTP violation and Rs.1,00,000 under Sec.15A(b) for PIT non-disclosure · SAT held charge against Noticee 3 not proved on mere connection; no trade or connivance shown
  Appeal: Appeal Nos.129, 195, 319, 320 of 2023 with Misc. Appl. 431,434 of 2023 heard 11.05.2023 decided 07.06.2023
• Noticees 5 and 6 placed buy orders substantially above LTP in Patch 3 to raise price, enabling Noticee 2 CMD to offload ~14,000 shares at profit; Noticee 3 allegedly facilitated as intermediary; Noticee 2 failed Form D disclosure.
  CGM impugned order imposed Rs.10,00,000 under Sec.15HA for PFUTP violation and Rs.1 lakh under Sec.15A(b) for PIT non-disclosure · SAT observed charge against Noticee 3 not proved, facilitation finding based on surmises; final relief not visible in excerpt
  Appeal: Appeal Nos.129, 195, 319, 320 of 2023 with Misc.Appl.431,434 of 2023 heard 11.05.2023, decision dated 07.06.2023 against CGM order dated 28.11.2022