Krunal Gopaldas Rana

SAT-appeal

• SAT matter SATV-03F3F5748B755C91DA9EB98A
  Appellants granted three weeks to file rejoinder · Matters listed on 11 August 2023
  Appeal: Appeal Nos. 342 to 347 of 2023; procedural order dated 23 June 2023 granting time for rejoinder and listing matters on 11 August 2023
• The appellants were alleged to have acted as a group and executed manipulative matched trades and self-trades in Shree Global Tradefin Ltd., involving fraud and unfair trade practices.
  Show cause notice dated 20 July 2017 quashed · AO penalty order dated 25 October 2018 quashed
  Appeal: Appeal Nos. 102, 122, 193, 268 and 269 of 2019 decided together and allowed on 14 November 2019.
• Connected entities indulged in reversal, matched and self-trades and price/volume manipulation contributing to positive LTP in Ushdev International Ltd.
  All appeals (Nos.265,267,270-276 of 2019) dismissed · AO penalty order imposing Rs.5 lakhs to Rs.30 lakhs upheld
  Appeal: Appeal Nos.265,267,270,271,272,273,274,275,276 of 2019 dismissed by SAT vide decision dated 08.06.2021 (reserved 26.04.2021)
• Connected appellants indulged in reversal, matched and self-trades with price and volume manipulation contributing to LTP in Ushdev International Ltd.
  All appeals dismissed · AO penalty of Rs 5 lakhs to Rs 30 lakhs upheld
  Appeal: Appeal Nos. 265, 267, 270, 271, 272, 273, 274, 275, 276 of 2019 dismissed on 08.06.2021 (reserved 26.04.2021)
• Admitted repeated failures to make shareholding disclosures under SAST Reg 7 and PIT Reg 13 (28 instances by Rana, 20 instances by Desai).
  Appeal No. 283 of 2019 partly allowed: penalty of Rs 18 lakhs reduced to Rs 8 lakhs · Appeal No. 284 of 2019 dismissed: penalty of Rs 6 lakhs upheld
  Appeal: Appeal Nos. 283 and 284 of 2019 decided on 05.11.2019; 283 partly allowed, 284 dismissed
• Connected entities indulged in reversal, matched, self trades and price-volume manipulation contributing to positive LTP in Ushdev International Ltd.
  All appeals dismissed, AO penalty order confirmed with no interference on quantum
  Appeal: Appeal Nos. 265,267,270,271,272,273,274,275,276 of 2019 decided on 08.06.2021 (reserved 26.04.2021) - dismissed
• Appellants as group executed extensive match trades and self trades in Shree Global Tradefin Ltd in manipulative manner amounting to fraud and unfair trade practice
  Second show cause notice dated July 20, 2017 and impugned AO order quashed · All appeals (102,122,193,268,269 of 2019) allowed
  Appeal: Appeal Nos. 102, 122, 193, 268, 269 of 2019 allowed by SAT decision dated 14.11.2019 (reserved 05.11.2019)
• Group executed extensive matched trades and self trades in Shree Global Tradefin Ltd in manipulative manner amounting to fraud and unfair trade practice.
  Second show cause notice dated July 20, 2017 quashed · Impugned AO penalty order dated October 25, 2018 quashed
  Appeal: Appeal Nos. 102, 122, 193, 268, 269 of 2019 disposed and allowed by SAT on 14.11.2019 (reserved on 05.11.2019)
• SAT matter SATV-8FF4C2B93E134B868F109254
  Appeal No. 40 of 2022 and Misc. Application No. 10 of 2022 dismissed on ground of laches / inordinate delay · No order as to costs
  Appeal: Appeal No. 40 of 2022 with Misc. Application No. 10 of 2022 filed Jan 2022 against WTM order dated 31.07.2019 dismissed on 04.02.2022 for delay
• SAT matter SATV-A54646C23268D867C5083424
  Impugned WTM order dated 1 October 2014 quashed and set aside qua appellants only · Matter restored/remanded to file of WTM of SEBI for fresh order on merits per law
  Appeal: Appeal Nos. 390 of 2014 and 178 of 2015 disposed of on 22/08/2016 by quashing impugned order qua appellants and remanding to WTM
• Group executed matched trades and self trades in Shree Global Tradefin Ltd in manipulative manner amounting to fraud and unfair trade practice.
  Show cause notice dated July 20, 2017 and impugned AO order quashed · All appeals (Nos. 102, 122, 193, 268, 269 of 2019) allowed
  Appeal: Appeal Nos. 102, 122, 193, 268, 269 of 2019 allowed by SAT on 14.11.2019 (reserved on 05.11.2019)
• Connected entities indulged in reversal, matched and self-trades with price and volume manipulation contributing to positive LTP in Ushdev International Ltd.
  All nine appeals dismissed · AO penalty order for PFUTP violations confirmed with no interference on quantum
  Appeal: Appeal Nos.265,267,270,271,272,273,274,275,276 of 2019 decided on 08.06.2021 (reserved 26.04.2021); all dismissed
• Repeated non-disclosures in violation of SAST Reg 7 and PIT Reg 13; 28 instances by Rana and 20 instances by Desai.
  Appeal No. 283 of 2019 partly allowed: penalty reduced from Rs 18 lakhs to Rs 8 lakhs · Appeal No. 284 of 2019 dismissed: penalty of Rs 6 lakhs upheld
• Failure to make public announcement in terms of Takeover Regulations
  Appeal No. 41 of 2022 dismissed on ground of laches and delay · Misc. Applications No. 7 and 8 of 2022 dismissed
  Appeal: Appeal No. 41 of 2022 filed January 2022 dismissed on 04.02.2022 for inordinate delay
• SAT matter SATV-B931504794F460FDF8175283
  Impugned WTM order dated 1 October 2014 quashed and set aside qua appellants · Matter remanded/restored to WTM file for fresh order on merits per law
  Appeal: Appeal No.390 of 2014 and Appeal No.178 of 2015 disposed of on 22/08/2016 by remand with no order as to costs