Darshan J. Kothari

SAT-appeal

• Fraudulent and manipulative trading in Richa Industries Ltd. through synchronized, structured, circular and cross trades, allegedly creating artificial volumes and price rise without genuine change in beneficial ownership.
  Twenty-six appeals challenging the common AO order dated 19 May 2015 were heard together and disposed of by this common decision.
  Appeal: Appeal Nos. 390, 391, 380-383, 366-369, 388, 372-373, 384-387, 363-365, 370-371, 389, 412-414 of 2015; common decision dated 22 June 2016; final disposal outcome not detailed in the provided excerpt.
• Fraudulent and manipulative trading in Richa Industries Ltd. through synchronized, structured, circular, reversal, cross and self trades, creating artificial volumes and price manipulation without genuine change in beneficial ownership.
  Twenty-six appeals challenging SEBI AO common order dated 19 May 2015 were heard together and disposed of by a common decision.
  Appeal: Appeal Nos. 390, 391, 380, 381, 382, 383, 366, 367, 368, 369, 388, 372, 373, 384, 385, 386, 387, 363, 364, 365, 370, 371, 389, 412, 413 and 414 of 2015 disposed of by SAT on 22 June 2016.
• Fraudulent and manipulative trading in Richa Industries Ltd. through synchronized, structured, circular, reversal, cross and self trades, creating artificial volumes and price rise without real change in beneficial ownership; broker alleged to have aided and abetted.
  Twenty-six appeals challenging the common AO order dated 19 May 2015 were heard together and disposed of by this common decision.
  Appeal: Appeal Nos. 390, 391, 380, 381, 382, 383, 366, 367, 368, 369, 388, 372, 373, 384, 385, 386, 387, 363, 364, 365, 370, 371, 389, 412, 413 and 414 of 2015 disposed of by common decision dated 22 June 2016; outcome on merits is not included in the supplied text.
• Fraudulent and manipulative trading in Richa Industries Ltd. through synchronized, structured, circular, reversal, cross and self trades, creating artificial volumes and price rise without genuine change in beneficial ownership.
  Twenty-six appeals challenging the common AO order dated 19 May 2015 were heard and disposed of by common decision
  Appeal: Appeal Nos. 390, 391, 380-383, 366-369, 388, 372-373, 384-387, 363-365, 370-371, 389, 412-414 of 2015; decided by SAT on 22 June 2016 against the common AO order dated 19 May 2015.
• Trades in Richa Industries Ltd. in 01.12.2008-31.12.2009 by Group-I/II entities via circular, synchronized, structured trades without change in beneficial ownership creating artificial volume and price rise, LTP/NHP manipulation.
  Appeal: Group of 26 appeals (Nos. 363-391, 412-414 of 2015) against AO common order dated 19.05.2015, heard together, Date of Decision 22.06.2016
• Fraudulent and manipulative trading in Richa Industries Ltd. through synchronized, structured, circular, reversal, cross and self trades, allegedly creating artificial volumes and price rise; the broker was alleged to have aided and abetted clients.
  All 26 appeals challenging SEBI AO's common order dated 19 May 2015 were heard and disposed of by this common decision.
  Appeal: Appeal Nos. 390, 391, 380, 381, 382, 383, 366, 367, 368, 369, 388, 372, 373, 384, 385, 386, 387, 363, 364, 365, 370, 371, 389, 412, 413 and 414 of 2015 disposed of by SAT on 22 June 2016.
• Fraudulent and manipulative trading in Richa Industries Ltd. via circular, synchronized, structured trades and cross deals without change in beneficial ownership to create artificial volume and price rise.
  Appeal: 26 appeals including Appeal Nos. 363-391, 412-414 of 2015 against AO common order dated 19.05.2015, decided on 22.06.2016
• Manipulative trading in Richa Industries Ltd. via circular, synchronized, structured, cross and self trades with no change in beneficial ownership creating artificial volume and price rise, plus LTP/NHP manipulation.
• Fraudulent and manipulative trading in Richa Industries Ltd. via synchronized, structured, circular trades, cross deals and self-trades with no change in beneficial ownership creating artificial volume and price rise.
  Appeal: 26 appeals (Nos. 363-373, 380-391, 412-414 of 2015) against AO common order dated 19.05.2015, heard together and disposed by SAT common decision dated 22.06.2016
• Alleged fraudulent manipulation in Richa Industries Ltd via circular, synchronized, structured trades, cross deals and self trades with no change in beneficial ownership creating artificial volume and price rise.
  AO common order dated 19.05.2015 imposed penalty under Section 15HA and in some cases 15A(a)/15HB · 26 appeals heard together for disposal by SAT common decision dated 22.06.2016
  Appeal: Appeal Nos. 363-372, 373, 380-391, 412-414 of 2015 against AO common order dated 19.05.2015, heard together, Date of Decision 22.06.2016
• Fraudulent manipulation in Richa Industries Ltd scrip via synchronized, circular, structured trades and cross deals with no real change in beneficial ownership, creating artificial volume and price rise plus LTP/NHP manipulation.
  AO had imposed penalty under Sec 15HA (plus 15A(a)/15HB in some cases); SAT operative decision not in excerpt
  Appeal: 26 Appeals Nos. 363-365, 366-371, 372-373, 380-391, 412-414 of 2015 heard together, decided by common SAT order dated 22.06.2016
• Fraudulent manipulation in Richa Industries Ltd. via circular trades without change in beneficial ownership creating artificial volume and price rise.
  Appeal: 26 appeals Nos. 363-391, 412-414 of 2015 before SAT, Date of Decision 22.06.2016, common hearing
• Alleged fraudulent manipulation in Richa Industries Ltd scrip via circular, synchronized, structured trades and cross deals creating artificial volume and price rise, including LTP/NHP manipulation; broker accused of aiding clients.
  AO imposed penalty on each appellant under Section 15HA (plus 15A(a)/15HB in some cases) · 26 SAT appeals heard together against common AO order; SAT operative disposal truncated in excerpt
  Appeal: 26 Appeals Nos. 363-391, 390-391, 412-414 of 2015 against AO order dated 19.05.2015; common SAT decision dated 22.06.2016
• Manipulation in Richa Industries Ltd scrip via circular, synchronized, structured, cross and self trades without change in beneficial ownership creating artificial volume and price rise, LTP/NHP manipulation; broker aiding clients.
  Appeal: Group of 26 Appeals Nos. 363-373, 380-391, 412-414 of 2015 challenging AO common order, decided together on 22.06.2016
• SAT matter SATV-E6F3E894631F87AE39DD5A0C
  Delay of 33 days in filing Appeals No. 390 and 391 of 2015 condoned · Delay of 18 days in filing Appeal No. 413 of 2015 condoned
  Appeal: Misc. Appl. 261/2015 in Appeal 390/2015, 262/2015 in Appeal 391/2015, 283/2015 in Appeal 413/2015 - delay condoned on 22.06.2016; main appeals pending
• Dealing in Richa Industries Ltd scrip in fraudulent manipulative manner via circular, synchronized, structured trades and cross deals without real change in beneficial ownership creating artificial volume and price rise plus LTP/NHP manipulation.
  Appeal: 26 appeals (Nos. 363-365, 366-369, 370-373, 380-391, 412-414 of 2015) against AO common order dated 19.05.2015; SAT common decision dated 22.06.2016
• Alleged fraudulent circular, synchronized, structured trades and cross/self deals in Richa Industries Ltd. with no change in beneficial ownership, creating artificial volume and price rise including LTP/NHP manipulation
  Appeal: Group of 26 Appeals Nos. 363-391, 412-414 of 2015 against AO common order dated 19.05.2015, heard together; Date of Decision 22.06.2016; operative SAT disposal truncated in excerpt
• Circular, synchronized, structured trades, cross deals and self trades in Richa Industries Ltd. without real change in beneficial ownership creating artificial volume and price rise, plus LTP/NHP manipulation.
  Appeal: 26 appeals Nos. 363-391 and 412-414 of 2015 against SEBI AO order dated 19.05.2015, disposed by common SAT decision dated 22.06.2016
• Fraudulent and manipulative trading in Richa Industries Ltd. via circular, synchronized, structured trades and cross deals with no real change in beneficial ownership to create artificial volume and price rise.
  Appeal: 26 Appeals Nos. 363-371, 372-373, 380-391, 412-414 of 2015 against AO order dated 19.05.2015, decided together on 22.06.2016
• SAT matter SATV-FDE4F21431F7DB79B6F02232
  Delay of 33 days in filing Appeal Nos. 390 and 391 of 2015 condoned · Misc. Application Nos. 261 and 262 of 2015 disposed of
  Appeal: Appeal Nos. 390, 391 and 413 of 2015 pending before SAT; delay condonation decided on 22.06.2016
• Fraudulent and manipulative trading in Richa Industries Ltd., including synchronized, structured, circular, reversal, cross and self trades, creating artificial volumes and price rise without real change in beneficial ownership; broker allegedly aided and abetted the conduct.
  Appeal: Twenty-six appeals, including Appeal Nos. 390 and 391 of 2015 and others listed in the order, were heard together and disposed of by this common SAT decision dated 22.06.2016; the operative disposal terms are not included in the provided excerpt.
• Fraudulent and manipulative trading in Richa Industries Ltd. through synchronized, structured, circular, reversal, cross and self trades, without genuine change in beneficial ownership, creating artificial volumes and price manipulation. Cholamandalam Securities was alleged to have aided and abetted clients.
  Twenty-six appeals challenging SEBI AO's common order dated 19.05.2015 were heard together and disposed of by this common decision.
  Appeal: Appeal Nos. 390, 391, 380-383, 366-369, 388, 372-373, 384-387, 363-365, 370-371, 389, 412-414 of 2015; decided by SAT on 22 June 2016.
• Trades in Richa Industries Ltd. during 01.12.2008-31.12.2009 by Group-I and Group-II entities via circular, synchronized and structured trades without change in beneficial ownership, creating artificial volume and price rise.
  Appeal: 26 appeals including Nos. 363-391, 412-414 of 2015 against AO common order dated 19.05.2015 heard together and disposed by common SAT decision dated 22.06.2016
• Fraudulent manipulation in Richa Industries Ltd via circular/synchronized/structured trades with no change in beneficial ownership creating artificial volume and price rise
  Appeal: 26 Appeals Nos. 363-391 and 412-414 of 2015 decided together on 22.06.2016 against AO order dated 19.05.2015
• Fraudulent and manipulative trading in Richa Industries Ltd. via circular, synchronized, structured trades and cross deals with no change in beneficial ownership, creating artificial volume and price rise.
  Appeal: Group of twenty-six Appeals Nos. 363-391, 412-414 of 2015 heard together, decided by common order dated 22.06.2016
• SAT matter SATV-8A8CAF6B0EF128C9B160D00F
  Delay of 33 days in filing Appeal Nos. 390 and 391 of 2015 condoned · Delay of 18 days in filing Appeal No. 413 of 2015 condoned
  Appeal: Misc. Application Nos. 261, 262 of 2015 in Appeal Nos. 390, 391 of 2015 (33 days delay) and Misc. Application No. 283 of 2015 in Appeal No. 413 of 2015 (18 days delay) disposed on 22.06.2016 with delay condoned; appeals pending
• Fraudulent and manipulative trading in Richa Industries Ltd. scrip via synchronized, structured, circular trades and cross deals with no change in beneficial ownership creating artificial volume and price rise.
  Appeal: 26 Appeals Nos. 363-365, 366-369, 370-373, 380-391, 412-414 of 2015 against common AO order dated 19.05.2015, heard together; SAT Date of Decision 22.06.2016
• Fraudulent and manipulative trading in Richa Industries Ltd. via circular, synchronized, structured trades and cross deals without real change in beneficial ownership, creating artificial volume and price rise.
  Appeal: 26 Appeals Nos. 363-391 and 412-414 of 2015 against SEBI AO common order dated 19.05.2015, heard together and disposed by SAT common decision dated 22.06.2016
• Dealing in Richa Industries Ltd scrip in fraudulent manipulative manner via synchronized, structured, circular trades and cross deals with no real change in beneficial ownership, creating artificial volume and price rise.
  Appeal: 26 appeals Nos. 390,391,380,381,382,383,366,367,368,369,388,372,373,384,385,386,387,363,364,365,370,371,389,412,413,414 of 2015 heard together, Date of Decision 22.06.2016