Hitesh Asoo Nihalani

2 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Penalty of Rs. 5 lakh upheld

SAT-appeal

Creating artificial volume and a false or misleading appearance of trading by consistently reversing trades with connected parties in the scrip of Kanchan International Ltd.
Appeal No. 720 of 2021 dismissed · Penalty of Rs. 5 lakh upheld
Appeal: Appeal No. 720 of 2021 dismissed by SAT on 4 January 2023; order reserved on 20 July 2022.
SAT matter SATV-9FDB925D905CE2242C06D521
Delay of 195 days in filing Appeal No. 720 of 2021 condoned; delay application allowed · Respondent SEBI permitted three weeks to file reply; appellant three weeks thereafter for rejoinder
Appeal: Appeal No. 720 of 2021 with Misc. Applications No. 1185-1187 of 2021 pending before SAT; delay of 195 days condoned on 03.01.2022; listed next on February 24, 2022

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Source: SecMarx — Hitesh Asoo Nihalani. 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.