J M Soni Consultancy

SAT-appeal

• The appellants were alleged to have acted as a group and executed manipulative matched trades and self-trades in Shree Global Tradefin Ltd., involving fraud and unfair trade practices.
  Show cause notice dated 20 July 2017 quashed · AO penalty order dated 25 October 2018 quashed
  Appeal: Appeal Nos. 102, 122, 193, 268 and 269 of 2019 decided together and allowed on 14 November 2019.
• The appellants allegedly acted in concert and acquired more than 15% of Oregon Commercial Limited's share capital without making the required public announcement under Regulation 10 of the Takeover Regulations, 1997.
  Appeal No. 758 of 2021 dismissed without any order as to costs · SEBI direction to make a public announcement to acquire Oregon Commercial Limited shares upheld
  Appeal: Appeal No. 758 of 2021 dismissed by SAT on March 21, 2022
• SAT matter SATV-33B9BF4F01E1074C4D8AA0F2
  Impugned SEBI Adjudicating Officer order dated 16 November 2018 quashed · SEBI granted liberty to issue a fresh show-cause notice
  Appeal: Appeal Nos. 123, 170, 174, 185, 186, 189, 190, 191 and 192 of 2019 disposed on 7 November 2019; impugned order quashed
• Alleged violation in scrip of Parichay Investments Limited adjudicated by AO; specifics not discussed as order set aside on concession.
  Impugned Adjudicating Officer order dated 16.11.2018 quashed without going into merits · Liberty granted to SEBI to issue fresh show cause notice if so desired
  Appeal: Appeal Nos. 123, 170, 174, 185, 186, 189, 190, 191, 192 of 2019 disposed of on 07.11.2019 by quashing impugned order on SEBI concession
• Group executed extensive matched trades and self trades in Shree Global Tradefin Ltd in manipulative manner amounting to fraud and unfair trade practice.
  Second show cause notice dated July 20, 2017 quashed · Impugned AO penalty order dated October 25, 2018 quashed
  Appeal: Appeal Nos. 102, 122, 193, 268, 269 of 2019 disposed and allowed by SAT on 14.11.2019 (reserved on 05.11.2019)
• Proceedings relating to scrip of Parichay Investments Limited; specific charge not detailed in SAT remand order
  Impugned AO order dated 16.11.2018 quashed without going into merits · SEBI given liberty to issue fresh show cause notice if so desired
  Appeal: Appeal Nos. 123,170,174,185,186,189,190,191,192 of 2019 disposed on 07.11.2019 by consent remand
• Acquisition of shares of Oregon Commercial Ltd triggering SAST 7(1)/7(2) and PIT 13 disclosure obligations which were not disclosed within prescribed time.
  Appeal partly allowed; Rs 5 lakhs each on three PAC members modified to single Rs 5 lakhs jointly and severally · Additional penalty of Rs 4 lakhs on Sanjay Jethalal Soni and Rs 5 lakhs on Krupa Sanjay Soni affirmed
  Appeal: Appeal No. 483 of 2018 partly allowed on 28.06.2019
• Failure to make public announcement in terms of Regulation 10 SAST 1997 read with Regulation 35(2) SAST 2011
  Dismissal of Appeal No. 44 of 2022 on ground of laches · Dismissal of Misc. Application No. 14 of 2022 for condonation of delay
  Appeal: Appeal No. 44 of 2022 with Misc. Application No. 14 of 2022 dismissed for delay on 04.02.2022
• SAT matter SATV-8FF4C2B93E134B868F109254
  Appeal No. 40 of 2022 and Misc. Application No. 10 of 2022 dismissed on ground of laches / inordinate delay · No order as to costs
  Appeal: Appeal No. 40 of 2022 with Misc. Application No. 10 of 2022 filed Jan 2022 against WTM order dated 31.07.2019 dismissed on 04.02.2022 for delay
• Alleged violation in scrip of Parichay Investments Limited; merits not examined
  Impugned AO order dated 16.11.2018 quashed without going into merits · Liberty granted to SEBI to issue fresh show cause notice if so desired
  Appeal: Appeal Nos. 123, 170, 174, 185, 186, 189, 190, 191 and 192 of 2019 disposed on 07.11.2019 by quashing impugned order
• Matter concerns scrip of Parichay Investments Limited; specific charges not examined as order was quashed without going into merits
  Quashed impugned Adjudicating Officer order dated 16.11.2018 without going into merits · Granted liberty to SEBI to issue fresh show cause notice if so desired
  Appeal: Appeal Nos. 123, 170, 174, 185, 186, 189, 190, 191 and 192 of 2019 disposed on 07.11.2019; impugned order quashed on SEBI concession
• Matter relates to dealings in scrip of Parichay Investments Limited; specific charges not detailed in SAT remand order
  Impugned Adjudicating Officer order dated 16.11.2018 quashed without going into merits · Liberty granted to SEBI to issue fresh show cause notice if so desired
  Appeal: Appeal Nos. 123, 170, 174, 185, 186, 189, 190, 191, 192 of 2019 disposed on 07.11.2019 by consent remand
• Proceedings relating to trading in scrip of Parichay Investments Limited; specific charge not detailed in remand order
  Impugned Adjudicating Officer order dated 16.11.2018 quashed without going into merits · Liberty to SEBI to issue fresh show cause notice if so desired
  Appeal: Appeal Nos. 123,170,174,185,186,189,190,191,192 of 2019 disposed on 07.11.2019 by consent quashing and remand
• Group executed matched trades and self trades in Shree Global Tradefin Ltd in manipulative manner amounting to fraud and unfair trade practice.
  Show cause notice dated July 20, 2017 and impugned AO order quashed · All appeals (Nos. 102, 122, 193, 268, 269 of 2019) allowed
  Appeal: Appeal Nos. 102, 122, 193, 268, 269 of 2019 allowed by SAT on 14.11.2019 (reserved on 05.11.2019)
• Alleged violation in scrip of Parichay Investments Limited leading to AO order dated 16.11.2018; merits not discussed due to remand
  Impugned AO order dated November 16, 2018 quashed without going into merits · Liberty to SEBI to issue fresh show cause notice if so desired
  Appeal: Appeal Nos. 123, 170, 174, 185, 186, 189, 190, 191, 192 of 2019 disposed on 07.11.2019 - impugned order quashed and remanded for fresh SCN
• Failure to make public announcement in terms of Regulation 10 and Regulation 11(1) SAST Regulations 1997
  Appeal No. 51 of 2022 and Misc. Application No. 9 of 2022 dismissed on ground of laches · No order as to costs
  Appeal: Appeal No. 51 of 2022 with Misc. Application No. 9 of 2022 filed Jan 2022 against AO order dated 24.10.2019 dismissed as time-barred on 04.02.2022
• Alleged violation in scrip of Parichay Investments Limited; merits not examined
  Impugned AO order dated 16.11.2018 quashed without going into merits · Liberty to SEBI to issue fresh show cause notice if so desired
  Appeal: Appeal Nos. 123, 170, 174, 185, 186, 189, 190, 191, 192 of 2019 disposed on 07.11.2019 by consent quashing
• Adjudication matter concerning dealings in scrip of Parichay Investments Limited; merits/charge details not examined by SAT
  Impugned Adjudicating Officer order dated 16.11.2018 quashed without going into merits · Liberty to SEBI to issue fresh show cause notice if so desired
  Appeal: Appeal Nos. 123, 170, 174, 185, 186, 189, 190, 191, 192 of 2019 disposed of on 07.11.2019 by quashing impugned order with liberty for fresh SCN