Ketan Shah

SAT-appeal

• SAT matter SATV-09B764D466C6D38025EEB268
  Miscellaneous Applications Nos. 47 and 48 of 2016 allowed and delays of 109 days condoned · Appeal Nos. 38, 39, 69 and 70 of 2016 disposed of as infructuous
  Appeal: Appeal Nos. 38, 39, 69 and 70 of 2016 disposed of as infructuous on 1 March 2017; Appeals Nos. 246, 322, 323 and 324 of 2015 remained pending for final arguments
• Alleged facilitation of manipulation in Tijaria Polypipes Limited shares, including allowing large client trades without prior margin and facilitating layered diversion of IPO proceeds to offset trading losses.
  Appeal No. 151 of 2013 against the WTM order dated 31 July 2013 was heard by SAT. · WTM restraint from buying, selling or otherwise dealing in securities in proprietary accounts, directly or indirectly, for five years, with one year and seven months already undergone deducted.
  Appeal: Appeal No. 151 of 2013, reserved on 23 September 2013 and decided on 28 October 2013; outcome not included in the supplied text.
• Broker allegedly facilitated manipulation of Tijaria Polypipes IPO listing by allowing clients to create artificial volumes and provide exit to QIB and retail allottees, trading without margins, using other clients funds and falsifying ledgers.
  Appeal dismissed; interim restraint prohibiting buying, selling or dealing in securities continued till further orders · No order as to costs
  Appeal: Appeal No. 209 of 2012 decided on 19.11.2012 - dismissed with no order as to costs
• Alleged round-tripping/siphoning of Rs 8 cr IPO proceeds via ICD repayments, Rs 2.5 cr diversion via Overall for trading, and non-disclosure/false statements in RHP/Prospectus on Suryamukhi/Neo Power advances and ICDs.
  AO imposed individual penalties aggregating Rs 11.80 crore under Section 15HA/15HB - under challenge; SAT operative directions not in excerpt
  Appeal: Appeal Nos. 246, 322, 323, 324 of 2015 against AO order 12.01.2015; SAT reserved 06.03.2018, decided 21.03.2018; separate appeal against WTM order 10.09.2015 became infructuous after 5-year debar suffered
• Securities market violation leading to 5-year debarment from accessing market; specific charge details not stated in this order.
  Delay of 109 days in Appeal Nos. 69 and 70 of 2016 condoned; Misc. Applications 47-48 of 2016 disposed · Appeal Nos. 38, 39, 69 and 70 of 2016 disposed as infructuous with no order as to costs
  Appeal: Appeal Nos. 38,39,69,70 of 2016 disposed as infructuous on 1.3.2017; Appeal Nos. 246,322,323,324 of 2015 pending for final arguments
• Alleged round-tripping and siphoning of Rs 8 cr IPO proceeds via ICD repayments and Rs 2.5 cr diversion for trading, plus non-disclosure and false statements in DRHP/RHP on ICDs and Suryamukhi/Neo Power contracts and advances.
  Operative SAT findings not in excerpt; impugned AO order dated 12.01.2015 imposed aggregate penalty Rs 11.80 cr
  Appeal: Appeal Nos. 246, 322, 323, 324 of 2015 against AO order 12.01.2015; reserved 06.03.2018, decided 21.03.2018; appeal against WTM order 10.09.2015 became infructuous
• SAT matter SATV-6F2E5C052BFB550613D63B97
  Miscellaneous Applications Nos. 47 and 48 of 2016 allowed; 109-day delay in filing Appeals 69 and 70 condoned · Appeals 38, 39, 69 and 70 of 2016 disposed of as infructuous without entering into merits
  Appeal: Appeals 38, 39, 69 and 70 of 2016 disposed of as infructuous on 1 March 2017; Appeals 246, 322, 323 and 324 of 2015 remained pending for final arguments
• Alleged siphoning of Rs 8 cr from IPO proceeds via round-tripping through ICD repayments and misutilisation of Rs 2.5 cr via Overall for trading, plus non-disclosure and false statements in RHP/Prospectus on ICDs, Suryamukhi and Neo Power contracts and costs.
  AO impugned order dated 12.01.2015 imposed individual penalties aggregating to Rs 11.80 crore under Section 15HA/15HB for PFUTP and ICDR violations (under challenge in SAT appeals)
  Appeal: SAT Appeals No. 246, 322, 323 and 324 of 2015 against AO common order dated 12.01.2015; reserved 06.03.2018, date of decision 21.03.2018; separate appeal against WTM order dated 10.09.2015 became infructuous after undergoing 5-year debarment
• SAT matter SATV-6E844E3ECCEF7C1FEB8E4E48
  Delay of 109 days condoned; Misc. Applications No.47 and 48 of 2016 disposed of · Appeal Nos.38,39,69 and 70 of 2016 disposed as infructuous with no order as to costs
  Appeal: Appeal Nos.38,39,69,70 of 2016 disposed as infructuous on 1.3.2017; Appeal Nos.246,322,323,324 of 2015 pending for final arguments
• Alleged siphoning of IPO proceeds via Rs 8 cr round-tripping through Suryamukhi-linked ICD repayments and Rs 2.5 cr diversion via Overall for trading, plus non-disclosure of ICDs and advances and false statements in RHP/Prospectus.
  Appeal: Appeals No. 246, 322, 323, 324 of 2015 reserved 06.03.2018 for decision 21.03.2018; separate appeal against WTM order 10.09.2015 became infructuous after 5-year debarment suffered
• SAT matter SATV-E15D5F17A5D2C53B3B4A9B2B
  Condoned 109-day delay in Appeal Nos.69 and 70 of 2016; disposed Misc. Applications 47-48 of 2016 · Disposed Appeal Nos.38, 39, 69 and 70 of 2016 as infructuous with no order as to costs
  Appeal: Appeal Nos.38, 39, 69, 70 of 2016 disposed as infructuous on 1.3.2017; Appeal Nos.246, 322, 323, 324 of 2015 pending for final arguments