Kala Patodia

SAT-appeal

• Manipulative and fraudulent reversal trades in an illiquid stock-options market, allegedly creating predetermined losses or profits through non-genuine transactions.
  All connected appeals, including Appeals Nos. 191-196 and 206-209 of 2022, dismissed. · Impugned AO penalty orders under Section 15HA upheld.
  Appeal: Appeal Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208 and 209 of 2022 dismissed by SAT on 13 May 2022.
• SAT matter SATV-0277B9C80A1006FFF62BD4F3
  Urgency applications allowed and disposed of · Delay in filing the appeals condoned
  Appeal: Appeal Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208 and 209 of 2022; heard and order reserved on 11 May 2022, with judgment scheduled for 13 May 2022
• Manipulative and fraudulent reversal trades in an illiquid market, allegedly executed through prior meeting of minds at predetermined prices, violating PFUTP Regulations 3 and 4.
  All appeals were dismissed · The AO penalty orders under Section 15HA were upheld
  Appeal: Appeal Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208 and 209 of 2022 were dismissed on 13 May 2022
• SAT matter SATV-3DE79C96F800DC81AEDB53C4
  Urgency applications allowed and disposed of · Delay in filing the appeals condoned
  Appeal: Appeal Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208 and 209 of 2022 were heard; judgment reserved for 13 May 2022
• Manipulative and fraudulent reversal trades in illiquid stock options, allegedly executed through prior matching of minds at predetermined prices, violating PFUTP Regulations.
  All appeals were dismissed. · SEBI was encouraged to consider another settlement scheme for similarly situated noticees under Regulation 26 of the Settlement Regulations, 2018.
  Appeal: Appeal Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208 and 209 of 2022 dismissed by SAT on 13 May 2022.
• SAT matter SATV-8AD7C1D3FB8AC53FDD29CA14
  Urgency applications allowed and disposed of · Delay in filing appeal condoned; all applications allowed and disposed of
  Appeal: Appeal Nos. 191-196 and 206-209 of 2022 heard; order reserved, listed 13 May 2022 for judgement
• SAT matter SATV-9A7702255FAD64E0455A6F4B
  Urgency applications allowed and disposed · Delay in filing appeals condoned, all applications allowed and disposed
  Appeal: Appeal Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208, 209 of 2022 with Misc. Applications heard on 11.05.2022; order reserved for 13.05.2022, not yet disposed
• SAT matter SATV-A7744ECD36A9280DD6C13ED8
  Urgency applications allowed and disposed of · Delay in filing appeals condoned; all applications allowed and disposed of
  Appeal: Appeal Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208, 209 of 2022 heard on 11.05.2022; order reserved; listed on 13 May 2022 for judgement
• SAT matter SATV-B2918FC275B265A18F1FBFC6
  Urgency applications allowed and disposed of · Delay in filing of appeals condoned; all applications allowed and disposed of
  Appeal: Appeal Nos. 191-196 of 2022 and 206-209 of 2022 against SEBI heard on 11.05.2022; order reserved, listed for delivery on 13.05.2022; delay condoned
• Non-genuine reversal trades in illiquid stock options to create artificial loss/profit, violative of Regulations 3 and 4 of PFUTP Regulations.
  All appeals Nos. 191-196, 206-209 of 2022 dismissed affirming AO penalty orders per Global Earth precedent
  Appeal: Appeal Nos. 191-196, 206, 207, 208, 209 of 2022 dismissed by SAT order dated 13.05.2022 (reserved 11.05.2022)
• SAT matter SATV-C815BA21FD6662BA8C8449F9
  Urgency applications allowed and disposed of · Delay in filing of appeals condoned; all applications allowed and disposed of
  Appeal: Appeal Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208, 209 of 2022 heard on 11.05.2022; order reserved, listed for judgement on 13.05.2022
• Execution and reversal of non-genuine trades in illiquid stock options to create artificial loss/profit, violating Regulation 3 and 4 of PFUTP Regulations.
  All appeals (Nos. 191-196, 206-209 of 2022) dismissed affirming AO penalty orders · Tribunal observes SEBI should consider fresh settlement scheme under Regulation 26 for illiquid option cases
  Appeal: Appeal Nos. 191-196 and 206-209 of 2022 reserved on 11.05.2022 and dismissed on 13.05.2022
• SAT matter SATV-EB8FB1621E9C0989A10335ED
  Urgency applications allowed and disposed of · Delay in filing of appeals condoned and applications allowed
  Appeal: Appeal Nos. 191,192,193,194,195,196,206,207,208,209 of 2022 heard and reserved on 11.05.2022; Misc Applications Nos. 310,312,322-331 of 2022 allowed; next date 13 May 2022 for judgement
• Manipulative and fraudulent reversal trades in illiquid stock options, allegedly creating predetermined losses or profits through non-genuine transactions.
  Appeals Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208 and 209 of 2022 dismissed. · AO penalty orders under Section 15HA for violations of PFUTP Regulations upheld.
  Appeal: Appeal Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208 and 209 of 2022 dismissed by SAT on 13 May 2022.
• SAT matter SATV-554B6CF23ABB6DC33AF9D9ED
  Urgency applications allowed and disposed of · Delay in filing the appeals condoned
  Appeal: Appeal Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208 and 209 of 2022; order dated 11 May 2022 reserved judgment and listed matters for 13 May 2022
• Manipulative and fraudulent reversal trades in an illiquid stock-options market, allegedly executed through prior meeting of minds at predetermined prices, violating PFUTP Regulations.
  All appeals, including Appeal Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208 and 209 of 2022, dismissed. · AO penalty orders under Section 15HA upheld.
  Appeal: Appeal Nos. 191, 192, 193, 194, 195, 196, 206, 207, 208 and 209 of 2022 dismissed on 13 May 2022.
• Non-genuine reversal trades in illiquid stock options with prior meeting of minds to create artificial loss/profit, violating Reg 3 and 4 PFUTP.
  Appeal Nos. 191-196 and 206-209 of 2022 dismissed · AO penalties under Section 15HA upheld per Global Earth Properties vs SEBI
  Appeal: Appeal Nos. 191-196 and 206-209 of 2022 dismissed on 13.05.2022 (reserved 11.05.2022)
• SAT matter SATV-AFB7B304F5CECE38A467D147
  Review applications not taken up due to non-availability of Bench; put up on 14th November 2022 · Parties to act on digitally signed copy; certified copy available from Registry on payment
  Appeal: Review Application Nos. 19, 41, 45, 46, 47, 48, 49, 50 of 2022 in Appeal Nos. 299, 193, 275, 206, 209, 208, 503, 277 of 2022 pending; adjourned to 14.11.2022
• Illiquid stock option matter - alleged non-genuine / fraudulent trading in illiquid stock options
  Review Application disposed with direction to file appropriate settlement application before authority concerned · Authority to accept settlement application under SEBI Settlement Scheme 2022 as pending proceeding and pass appropriate orders
  Appeal: Review Application No. 41 of 2022 in Appeal No. 193 of 2022 disposed on 14.11.2022; Misc. Applications Nos. 1192-1197 of 2022 also disposed
• Execution of non-genuine reversal trades in illiquid stock options to create artificial profit/loss, violating Regulation 3 and 4 of PFUTP Regulations.
  All appeals dismissed · AO orders imposing penalty under Section 15HA upheld
  Appeal: Appeal Nos. 191-196, 206-209 of 2022 dismissed by SAT on 13.05.2022 (reserved 11.05.2022)
• Non-genuine reversal trades in illiquid stock options creating artificial loss/profit in violation of PFUTP Regulations 3 and 4.
  All appeals dismissed and AO penalty orders affirmed per Global Earth precedent
  Appeal: Appeal Nos. 191-196 and 206-209 of 2022 dismissed by SAT on 13.05.2022 (reserved 11.05.2022)
• SAT matter SATV-E4581D2C89AD1D2E7CACE248
  Urgency applications allowed and disposed of · Delay in filing of appeals condoned and all applications allowed and disposed of
  Appeal: Appeal Nos. 191-196 and 206-209 of 2022 heard and reserved on 11.05.2022; delay condoned; listed 13.05.2022 for delivery of judgement