J.M. Soni Consultancy through Sanjay Jethalal Soni
Penalties and directions recorded
- SEBI AO directions imposing penalties ranging from Rs.5 lakhs to Rs.30 lakhs on the respective appellants were upheld.
- The Adjudicating Officer’s penalties ranging from Rs.5 lakh to Rs.30 lakh per appellant were upheld.
SAT-appeal
- Alleged fraudulent and unfair trade practices through connected reversal, matched and self-trades, volume manipulation, price manipulation and contribution to positive LTP in Ushdev International Ltd.All appeals were dismissed. · SEBI AO directions imposing penalties ranging from Rs.5 lakhs to Rs.30 lakhs on the respective appellants were upheld.Appeal: Appeal Nos.265, 267, 270, 271, 272, 273, 274, 275 and 276 of 2019 dismissed by SAT on 8 June 2021.
- Alleged fraudulent and unfair trading through reversal, matched and self-trades, price and volume manipulation, and contribution to positive Last Traded Price in Ushdev International Ltd.All appeals were dismissed. · The Adjudicating Officer’s penalties ranging from Rs.5 lakh to Rs.30 lakh per appellant were upheld.Appeal: Appeal Nos.265, 267, 270, 271, 272, 273, 274, 275 and 276 of 2019 dismissed on 8 June 2021; 17 of 18 noticees appealed.
Source: SecMarx — J.M. Soni Consultancy through Sanjay Jethalal Soni. 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.