Galaxy Broking Ltd.

SAT-appeal

• Execution of fictitious trades and synchronized trades in scrip of Oasis Media Matrix Limited to create artificial volumes with no change in beneficial ownership.
  Monetary penalty of Rs 6 lacs imposed by adjudicating officer upheld · Appeal No. 274 of 2009 dismissed
• Executed synchronized / structured / circular / reversed trades in Wellworth Overseas Ltd violating PFUTP Regulation 4 and broker code of conduct.
  Appeal dismissed, Rs 4 lacs penalty upheld · Parties to bear their own costs
  Appeal: Appeal No. 163 of 2009 dismissed on 22.03.2010
• Allowed barred client Ritedeal to sell 14000 shares of Mega Corporation Ltd on 16.11.2005 in violation of WTM restraint order dated 24.10.2005.
  Appeal allowed and AO order dated 30.07.2007 set aside with no order as to costs
  Appeal: Appeal No. 167 of 2007 allowed on 23.11.2007; AO penalty of Rs.10 lacs set aside
• SAT matter SATV-56C37E84189C95E21F5653D8
  Appeal disposed of by adopting the same order as in Appeal No. 110 of 2009 decided on 23 March 2010
  Appeal: Appeal No. 148 of 2009 decided on 23 March 2010; outcome stated as the same order as in Appeal No. 110 of 2009 decided on that date