Jyotsna G. Kulkarni

4 matters before the Securities Appellate Tribunal

Penalties and directions recorded

SEBI directed to pay Rs. 5 lakhs as costs to the Registrar of SAT.
Appeals concerning the common and connected SEBI orders were heard together and decided together
Impugned WTM orders included market-access restraints, proposed disgorgement deposits and monetary penalties
Appeal No. 44 of 2021 sought enhancement of penalty and disgorgement against Kirloskar Brothers Ltd.
WTM directions included market-access restraints, proposed disgorgement subject to post-decisional hearing, and monetary penalties; Appeal 44/2021 sought enhancement of penalty and disgorgement.

SAT-appeal

SAT matter SATV-22BEF3F0AF88983F5540CA3C
Miscellaneous applications disposed of. · SEBI directed to pay Rs. 5 lakhs as costs to the Registrar of SAT.
Appeal: Appeal Nos. 499 of 2020 and 503 of 2020; SAT had quashed SEBI's order dated 20 October 2020 by order dated 12 October 2022. Miscellaneous applications disposed of on 4 December 2023.
Alleged insider trading in KBL shares while in possession of UPSI concerning capital loss on advances/investment in KCEL and KBL's July–September 2010 financial results. Also alleged PFUTP fraud and disclosure/model-code violations.
Appeals concerning the common and connected SEBI orders were heard together and decided together · Impugned WTM orders included market-access restraints, proposed disgorgement deposits and monetary penalties
Appeal: Appeal Nos. 499, 503–508 of 2020 and 44 of 2021 were heard together; decision dated 12 October 2022. The supplied text does not include the final operative disposal paragraphs.
Alleged insider trading while possessing UPSI concerning capital loss on KBL’s advances/investment in KCEL and KBL’s July–September 2010 financial results; also alleged fraud, PFUTP violations and disclosure/code breaches.
Appeals 499/2020, 503/2020, 504/2020, 505/2020, 506/2020, 507/2020, 508/2020 and 44/2021 were heard together and decided together. · WTM directions included market-access restraints, proposed disgorgement subject to post-decisional hearing, and monetary penalties; Appeal 44/2021 sought enhancement of penalty and disgorgement.
Appeal: Appeal Nos. 499, 503, 504, 505, 506, 507, 508 of 2020 and 44 of 2021 were decided together by SAT on 12 October 2022; final dispositions are not included in the provided excerpt.
SEBI order 20.10.2020 in Kirloskar Brothers Limited restrained appellants from accessing securities market for six months.
Misc. Applications disposed directing SEBI to pay Rs 5 lakhs costs to Registrar of Tribunal · SEBI at liberty to take appropriate remedial measures against NSDL if fault lay with NSDL
Appeal: Appeal Nos. 499/2020 and 503/2020 allowed by SAT order dated 12.10.2022 quashing SEBI order dated 20.10.2020

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Source: SecMarx — Jyotsna G. Kulkarni. 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.