Global Earth Properties and Developers Pvt. Ltd.

10 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Appeals challenged Adjudicating Officer penalty orders for PFUTP violations.
List matters on August 26, 2020
If settlement not accepted, matters will be heard on merits on next date
Parties to take instructions from Registrar 48 hours before fixed date on hearing mode
If settlement not accepted, matters to be heard on merits on next date

SAT-appeal

Executing synchronized reversal trades in illiquid BSE stock options with the same counterparties on the same day, creating artificial volumes and a false or misleading appearance of trading.
Appeals challenged Adjudicating Officer penalty orders for PFUTP violations.
Appeal: Appeal Nos. 212, 215, 229 and 379 of 2020; decision dated 14 September 2020. Outcome in the provided text is incomplete.
Alleged violations in illiquid securities matters resulting in penalty (specific charge not detailed in this procedural order)
Connect with Appeal No. 25 of 2019 R S Ispat Ltd vs SEBI · List matters on August 26, 2020
Appeal: Appeal Lodging Nos. 204, 205, 207, 213, 214, 225 of 2020 pending; adjourned to August 26, 2020
Alleged violations relating to trading in illiquid securities leading to SEBI penalty orders; specifics not detailed in this procedural order
Connected with Appeal No. 25 of 2019 (R S Ispat Ltd vs SEBI) · Adjourned; listed on August 26, 2020 for further hearing
Appeal: Appeal Lodging Nos. 204, 205, 207, 213, 214 and 225 of 2020 adjourned; listed on 26 August 2020 for settlement affidavit/merits hearing
Execution of non-genuine reversal trades in illiquid BSE Stock Options creating false appearance and artificial volumes, violating PFUTP Regs 3-4.
AO imposed Rs 6 lakhs on Global, Rs 5 lakhs on Pintail, Rs 25 lakhs on Blue Bull, Rs 8 lakhs on Ashok · All four appeals heard together and decided by common SAT order on common issue
Appeal: Appeal Nos.212, 215, 229 and 379 of 2020 reserved on 1.9.2020/4.9.2020, decided 14.9.2020 by common SAT order
Execution of non-genuine reversal trades with same entities on same day in illiquid Stock Options segment of BSE creating false appearance and artificial volumes, violating PFUTP Regulations 3 and 4.
AO had imposed Rs 6 lakhs penalty on Global Earth Properties and Developers Pvt Ltd · AO had imposed Rs 5 lakhs penalty on Pintail Reality Developers Pvt Ltd
Appeal: Appeal Nos 212, 215, 229 and 379 of 2020 before SAT; reserved on 1.9.2020/4.9.2020, Date of Decision 14.9.2020
Illiquid securities matters involving penalty / violation of law proposed to be covered by SEBI settlement scheme (specific charge not detailed)
Connect these appeals with Appeal No. 25 of 2019 R S Ispat Ltd vs SEBI · List all matters on August 26, 2020 for further hearing
Appeal: Appeal Lodging Nos. 204, 205, 207, 213, 214 and 225 of 2020 pending before SAT; adjourned to 26.08.2020 for affidavit/hearing; connected with Appeal No. 25 of 2019
Execution of non-genuine reversal trades in illiquid BSE Stock Options creating artificial volumes and false/misleading appearance of trading.
AO had imposed Rs 6 lakhs penalty on Global (impugned before SAT) · AO had imposed Rs 5 lakhs penalty on Pintail (impugned before SAT)
Appeal: Appeal Nos. 212, 215, 229 and 379 of 2020 before SAT, reserved 1.9.2020/4.9.2020, decided 14.9.2020
Alleged violations in illiquid securities matters leading to penalties under impugned SEBI orders, now sought to be covered under settlement scheme.
Connected with Appeal No. 25 of 2019 R S Ispat Limited Vs SEBI · Adjourned and listed on August 26, 2020 to enable instructions on settlement
Appeal: Appeal Lodging Nos. 204, 205, 207, 213, 214 and 225 of 2020 pending before SAT; adjourned to August 26, 2020 and connected with Appeal No. 25 of 2019
Alleged violations relating to trading in illiquid scrips/securities; specifics not stated in this procedural order.
Connected with Appeal No. 25 of 2019 - R S Ispat Limited vs SEBI · Matters adjourned and listed on August 26, 2020
Appeal: Appeal Lodging Nos. 204, 205, 207, 213, 214 and 225 of 2020 pending before SAT; adjourned to August 26, 2020; connected with Appeal No. 25 of 2019
Alleged violations involving trading in illiquid securities leading to penalty (specific charges not detailed in order)
Connected with Appeal No. 25 of 2019 R S Ispat Ltd vs SEBI and listed on August 26, 2020 · Adjourned to enable appellants to seek instructions on settlement scheme dated August 1, 2020

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Source: SecMarx — Global Earth Properties and Developers Pvt. Ltd.. 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.