Dilip S. Pendse

SAT-appeal

• SAT matter SATV-3705B36AC9ECAE5896BDEA56
  Appeal disposed of as infructuous · No order as to costs
  Appeal: Appeal No. 416 of 2014 disposed of as infructuous on 27 April 2016 because the appellant had already undergone the debarment.
• Pendse as insider allegedly aided Talaulicar by counselling and organising sale of 1 lac TFL shares before disclosure that Niskalp subsidiary had suffered huge losses not disclosed in rights issue offer, violating Regulation 3.
  Held charge of insider trading by aiding/counselling not established against Pendse · Adjudication order dated 29.12.2006 imposing Rs 1,50,000 penalty set aside
  Appeal: Appeal No. 90 of 2007 decided on 20.11.2008 in favour of appellant; Appeal No. 23 of 2007 by Talaulicar pending with consent application before Board
• SAT matter SATV-987709C7A82C0685A86153F8
  Impugned WTM order dated December 24, 2012 quashed and set aside · Matter restored to SEBI file for fresh order on merits and in accordance with law
  Appeal: Appeal No. 41 of 2013 decided on 16.04.2014, disposed of with remand and no order as to costs
• Proceedings concerned securities transactions allegedly executed in March 2001 rather than September 2000, and related regulatory violations under Section 11B and Chapter VIA of the SEBI Act.
  Impugned WTM order dated 11 January 2008 set aside qua the appellants · Matter remanded to SEBI for fresh consideration and order
  Appeal: Appeal No. 39 of 2008, along with Appeals No. 40 and 41 of 2008, disposed of by remand on 25 September 2008
• SAT matter SATV-CE7BD01957B328F17F61BD6A
  Appeal allowed to be withdrawn with liberty to file fresh appeal · Appeal disposed of with no order as to costs
  Appeal: Appeal No. 424 of 2016 disposed on 08.02.2017 as withdrawn with liberty to file fresh appeal
• Insider trading charge that Dilip Pendse while possessing UPSI on estimated TFL/Nishkalp losses for quarter ending March 2001 advised relatives/associates to sell 2,90,000 TFL shares before disclosure.
• Illegal carry-forward/off-market deals in GTL shares violating Section 13 SCRA and falsification of books causing wrongful loss to Inshaallah/Niskalp violating FUTP Reg 6(a),(d).
  WTM order dated 28.12.2007 restrained appellants from accessing securities market and prohibited buying, selling or dealing in securities for 2 years
  Appeal: Appeals No. 22, 29 and 30 of 2008 decided together on 20.11.2008; arguments in No.22 to govern others
• Alleged insider trading in Tata Finance Limited shares by insiders selling while in possession of UPSI in March 2001.
  Appeals No.1-3 of 2007 allowed · Impugned adjudication order dated September 27, 2006 set aside
  Appeal: Appeals No.1 to 3 of 2007 allowed and remanded by SAT order dated 09.09.2008