Chandrakant P. Mehta

SAT-appeal

• Non-intermediary front-running and fraudulent/unfair trading based on confidential advance information about HDFC AMC orders, allegedly violating PFUTP Regulations.
  Appeals Nos. 327, 329, 337 and 338 of 2014 were disposed of by a common decision. · Impugned WTM order dated 24 July 2014 imposed a 10-year securities-market prohibition from 17 June 2010.
  Appeal: Appeal Nos. 327, 329, 337 and 338 of 2014 decided together on 21 December 2017; appeals challenging the WTM order dated 24 July 2014 were dismissed for lack of merit.
• Front-running of HDFC AMC orders: dealer Nilesh Kapadia tipped Rajiv Sanghvi before HDFC orders; Sanghvi and Mehta accounts traded ahead, violating PFUTP Regs 3, 4(1).
  Debarred from buying/selling/dealing in securities for 10 years from interim order 17.06.2010 · Disgorgement of illegal profits with interest by all except Nilesh Kapadia
• Non-intermediary front-running and fraudulent/unfair trading: HDFC AMC dealer allegedly tipped Rajiv Sanghvi before HDFC AMC orders, enabling Sanghvi and trades through Chandrakant and Dipti Mehta.
  Appeals 327, 329, 337 and 338 of 2014 were disposed of by this common decision · Impugned WTM order dated 24 July 2014 challenged
  Appeal: Common SAT decision dated 21 December 2017 in Appeals 327, 329, 337 and 338 of 2014; appeals challenged the WTM order dated 24 July 2014
• Front-running of HDFC AMC orders: dealer Nilesh Kapadia allegedly tipped Rajiv Sanghvi before placing AMC orders and Sanghvi plus Mehta accounts traded ahead on tips.
  Prohibited from buying, selling or dealing in securities for 10 years from interim order dated 17 June 2010 · Disgorgement of illegal profits with interest directed against all except appellant in Appeal No. 329 of 2014
  Appeal: Appeal Nos. 327, 329, 337 and 338 of 2014, order reserved on 05.12.2017, date of decision 21.12.2017, challenging WTM order dated 24.07.2014