Asit C. Mehta Investment Interrmediates Ltd.
Penalties and directions recorded
- Appeal dismissed, AO penalty of Rs 7 lakhs upheld on merits
- Parties to take instructions from Registrar 48 hrs before fixed date on video vs physical hearing
- AO order dated 30 December 2020 imposing Rs 7 lakhs penalty upheld
- Violation affirmed but penalty reduced from Rs 7,05,600 to Rs 3,50,000
SAT-appeal
- Misuse of credit-balance client funds for debit-balance clients and own use, and failure to settle funds and securities of 1311 inactive and 9 active clients.Appeal dismissed, AO penalty of Rs 7 lakhs upheld on merits · No order as to costsAppeal: Appeal No. 92 of 2021 decided on 03 January 2023 - dismissed
- Penalty imposed by BSE without issuing show cause notice or providing opportunity of hearingRespondent counsel to seek instructions and file affidavit if necessary · List matter for admission on July 26, 2021Appeal: Appeal No. 489 of 2021 with Misc. Application No. 756 of 2021 pending; listed for admission on July 26, 2021
- Misuse of credit balance clients funds for debit balance clients and own use; failure to settle funds and securities of inactive and active clients.AO order dated 30 December 2020 imposing Rs 7 lakhs penalty upheld · Appeal dismissed without any order as to costsAppeal: Appeal No. 92 of 2021 decided on 03 January 2023; appeal dismissed without costs
- Shortfall of client funds of Rs 6.57 cr to pay creditors as on 10 July 2020 and false reporting of margin collected from clients in NSE F&O Segment.Violation affirmed but penalty reduced from Rs 7,05,600 to Rs 3,50,000 · Appeal partly allowedAppeal: Appeal No.382 of 2019 decided on 17.11.2021, partly allowed with penalty reduction
Source: SecMarx — Asit C. Mehta Investment Interrmediates 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.