Rajendra Jayantilal Shah

SAT-appeal

• SAT matter SATV-61BA19E98C5AAF51EE8B8901
  Penalty of Rs 9 lakh under Section 15HA set aside for each appellant · Penalty of Rs 1 lakh under Section 15HB upheld for each appellant
  Appeal: Appeal Nos. 115 and 116 of 2013 disposed of by SAT order dated 09.10.2013
• SAT matter SATV-50F797342E917826A406C898
  Set aside the Rs. 9 lakh penalty under Section 15HA imposed on each appellant. · Uphold the Rs. 1 lakh penalty under Section 15HB imposed on each appellant.
  Appeal: Appeal Nos. 115 and 116 of 2013 disposed of on 9 October 2013; the underlying adjudication orders dated 30 April 2013 were modified. SEBI's challenge to the Ess Ess Intermediaries precedent was stated to be pending before the Apex Court.
• Alleged participation in synchronized/reversal trades that created artificial volumes and liquidity in Adani Exports Ltd., violating FUTP Regulation 4 and broker/sub-broker codes of conduct.
  Impugned SEBI order suspending the appellant's registration for two months was set aside. · Appeal allowed with no order as to costs.
  Appeal: Appeal No. 118 of 2012 decided by SAT on 16 July 2012; appeal allowed and SEBI's suspension order set aside.