Gaurav Arora
Penalties and directions recorded
- Penalty of Rs. 2 crore imposed jointly and severally on Jaypee and Gaurav Arora under Section 15HA was upheld.
- Additional penalty of Rs. 10 lakh imposed on Jaypee under Section 15HB was upheld.
- AO order imposed Rs. 2 crore penalty jointly and severally on Jaypee and Gaurav Arora under Section 15HA.
- Jaypee was additionally directed to pay Rs. 10 lakh under Section 15HB.
SAT-appeal
- Executing large numbers of self-trades in USD-INR currency derivative contracts to create a false or misleading appearance of large trading volumes at USE, and breaching stockbroker conduct obligations.Appeals challenging the AO order dated 28 September 2017 were dismissed. · Penalty of Rs. 2 crore imposed jointly and severally on Jaypee and Gaurav Arora under Section 15HA was upheld.Appeal: Appeal Nos. 333 of 2017 and 345 of 2017 decided together and dismissed by SAT on 28 June 2019; appeals challenged SEBI AO order dated 28 September 2017.
- Executing extensive self-trades in USD-INR currency derivatives to create a false or misleading appearance of trading volume at USE, violating PFUTP provisions; Jaypee also allegedly breached stock-broker conduct requirements.Appeals No. 333 of 2017 and 345 of 2017 challenging the AO order dated 28 September 2017 were heard together and decided by SAT. · AO order imposed Rs. 2 crore penalty jointly and severally on Jaypee and Gaurav Arora under Section 15HA.Appeal: Appeal No. 333 of 2017 (Jaypee Capital Services Limited) and Appeal No. 345 of 2017 (Gaurav Arora), decided together by SAT on 28 June 2019; disposition beyond the supplied text is not stated.
Source: SecMarx — Gaurav Arora. 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.