Jayesh P. Khandwala

SAT-appeal

• Alleged financing of key operators who used fictitious/benami retail applications to corner IPO shares, followed by transfers and sale at gains, violating anti-fraud provisions.
  Impugned SEBI order prohibited appellants from accessing or dealing in the securities market for three months. · Appellant no. 1 was directed to disgorge Rs. 4,04,20,658 plus interest of Rs. 1,21,26,197.
  Appeal: Appeal No. 29 of 2011 decided by SAT on 3 April 2012; outcome not included in the provided text.
• SAT matter SATV-D67051FD9EC265A767B9FC00
  Miscellaneous Application allowed - time for SEBI to pass final order extended by two months from today · Miscellaneous Application disposed of with no order as to costs
  Appeal: Misc. Application No. 125 of 2015 in Appeal No. 184 of 2013 disposed on 13.04.2015
• Disgorgement of unlawful gains with interest; specific statutory violation not detailed in this remand excerpt.
  Impugned WTM order dated 12 August 2013 set aside and remanded for fresh decision · WTM directed to pass fresh order on merits in accordance with law after hearing appellants
  Appeal: Appeal No. 184 of 2013 disposed of on 16.12.2014 with correction order on 05.02.2015; remanded to WTM
• WTM held appellants liable to disgorge unlawful gain with interest; underlying violation not restated in SAT remand order.
  Set aside WTM order dated 12.08.2013 by consent and remand for fresh decision · WTM to pass fresh order on merits after hearing appellants within 3 months from 16.12.2014
  Appeal: Appeal No. 184 of 2013 disposed of on 16.12.2014 by set-aside and remand; corrigendum issued on 05.02.2015