Asit C Mehta Investment Intermediates Ltd.

3 matters before the Securities Appellate Tribunal

Penalties and directions recorded

AO penalty reduced from Rs. 15 lakhs to Rs. 9 lakhs.
Rs. 6 lakh penalty under Section 23D of the SCRA for misuse of client funds set aside.
Impugned penalty order upheld
Parties directed to obtain instructions from the Registrar 48 hours before the hearing regarding video conference or physical hearing

SAT-appeal

Alleged regulatory violations including misuse of client funds, short collection of margin, client funding, KYC/KRA deficiencies, incorrect reporting, membership-rule non-adherence and failures in reporting and uploading client data.
Appeal partly allowed. · AO penalty reduced from Rs. 15 lakhs to Rs. 9 lakhs.
Appeal: Appeal No. 272 of 2023 decided by SAT on 11 April 2023; partly allowed and penalty reduced to Rs. 9 lakhs.
Failure to segregate client securities and monies; incorrect or non-reporting of enhanced supervision data; non-settlement of client funds and securities; terminal-related discrepancies; non-maintenance of daily reconciliation; and incorrect retention statement.
Appeal No. 317 of 2021 dismissed · Miscellaneous Application No. 227 of 2021 disposed of
Appeal: Appeal No. 317 of 2021 dismissed by SAT on 6 January 2023; Misc. Application No. 227 of 2021 disposed of.
SAT matter SATV-61FB8C6738F10835B97DA07E
Appeal listed for hearing on 17 November 2021 · Parties directed to obtain instructions from the Registrar 48 hours before the hearing regarding video conference or physical hearing
Appeal: Appeal No. 382 of 2021 was pending and adjourned for listing on 17 November 2021; no final disposal recorded

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Source: SecMarx — Asit C Mehta Investment Intermediates Ltd.. 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.