Dhaval Mehta

3 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Upheld disgorgement of Rs 72 lacs with 10% interest from date of listing
Costs of Rs 1 lac awarded to SEBI
Contentions rejected; penalty of Rs 1 crore under Section 15HB upheld
Rs 1 crore Supreme Court deposit held adjusted towards penalty, disgorgement liability held not discharged
Plea to treat appeal as mercy petition and re-adjust deposit towards disgorgement rejected

SAT-appeal

IPO scam: cornering shares reserved for retail investors in Suzlon and IDFC IPOs through 4580 benami applications via front entities.
Appeal dismissed; upheld 2-year restraint from buying, selling or dealing in securities · Upheld disgorgement of Rs 72 lacs with 10% interest from date of listing
Appeal: Appeal No. 155 of 2008 dismissed on 08.09.2009 with Rs 1 lac costs to SEBI
SAT matter SATV-CAC359CD19F19D73A183D731
Appeal No.25 of 2009 dismissed for reasons stated in Appeal No.155 of 2008
Appeal: Appeal No.25 of 2009 dismissed on 15.09.2009
Failure to disgorge Rs 72 lakhs with 10% interest as directed in WTM order dated 31 Oct 2008; underlying irregularities in IPO shares of Suzlon Energy and IDFC Ltd.
Contentions rejected; penalty of Rs 1 crore under Section 15HB upheld · Rs 1 crore Supreme Court deposit held adjusted towards penalty, disgorgement liability held not discharged
Appeal: Civil Appeal Nos. 7697 of 2009 and 7861 of 2009 disposed as withdrawn on 21 Sep 2012; present Appeal No. 111 of 2013 decided 10 Oct 2013 (reserved 20 Sep 2013) - contentions rejected

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Source: SecMarx — Dhaval Mehta. 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.