Lopa S. Bhavnagari
Penalties and directions recorded
- Appellant may sell M and B Switchgears Ltd. shares to the extent necessary to realize dues from the client.
- WTM restraint of appellants from securities market directly/indirectly for 5 years; SAT heard together and disposed by common order dated 19/09/2016
SAT-appeal
- Issue concerning restrictions on dealings in an IPO and the appellant's request to sell shares to recover client dues while SEBI investigations continued.Appeal allowed in terms of directions in SAT Appeal No. 161 of 2012. · Appellant may sell M and B Switchgears Ltd. shares to the extent necessary to realize dues from the client.Appeal: Appeal No. 47 of 2013 allowed on 15 April 2013; delay of about 23 days condoned through Miscellaneous Application No. 22 of 2013.
- Structured/reversed/synchronized trading in Tijaria Polypipes Ltd on IPO opening day to provide exit to QIBs/retail investors, with losses allegedly funded from diverted IPO proceeds.WTM restraint of appellants from securities market directly/indirectly for 5 years; SAT heard together and disposed by common order dated 19/09/2016Appeal: Appeal No.157 of 2013 and Appeal No.155 of 2013 against WTM orders dated 20/05/2013 and 30/05/2013; reserved 18/08/2016, decided 19/09/2016
- SAT matter SATV-DFCD1A3A842BB43430D44FE1Disposed in terms of order passed in Appeal No.5 of 2013 decided on 11.01.2013Appeal: Appeal No.6 of 2013 with Misc. Application No.1 of 2013 decided on 11.01.2013
Source: SecMarx — Lopa S. Bhavnagari. 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.