Jitendra Harjivandas Securities Pvt. Ltd.

SAT-appeal

• Alleged manipulation through reversal of trades in the scrip of Shukun Construction Limited with the same counter-party broker.
  Appeal No. 141 of 2009 allowed. · Impugned adjudicating officer's order set aside.
  Appeal: Appeal No. 141 of 2009 allowed on 16 July 2010; impugned order set aside and matter remanded. Appeal No. 83 of 2009 dismissed as withdrawn.
• Aiding Mahesh Mistry Group in circular and synchronized trades manipulating BGSL price and creating artificial demand and false appearance of trading.
  AO imposed Rs 10,00,000 penalty under challenge; SAT operative disposal not in excerpt
  Appeal: Appeal No.7 of 2013, reserved 18.2.2014, decided 6.3.2014 before SAT Mumbai
• Alleged violation of Regulation 4(2) of PFUTP Regulations, 2003 and stockbroker Code of Conduct under Schedule II read with Regulation 7 of Stockbrokers Regulations, 1992.
  Appeal allowed and AO order dated June 3, 2010 set aside · Case remanded to adjudicating officer to proceed afresh in accordance with law
• Circular/reverse synchronized trades in Wellworth Overseas Ltd during 26-30 May 2003 creating artificial volumes; price not manipulated
  Penalty reduced from Rs 8 lacs to Rs 4 lacs, impugned order modified accordingly · Appeal disposed with no order as to costs
  Appeal: Appeal No. 10 of 2010 decided/disposed on 10.8.2010 by SAT, penalty reduced to Rs 4 lacs