M/s Shree Radhe

SAT-appeal

• Executing self, reversal and synchronized trades in Gulshan Polyols Limited shares to create artificial volume and cause a fictitious price rise; failure by Bhavesh Pabari and M/s Shree Radhe to furnish information during investigation.
  Appeal No. 53 of 2012 dismissed; Rs 20 lakh penalty against Hemant Sheth sustained. · Appeals Nos. 71 and 72 of 2012 partially allowed; Rs 20 lakh penalty against each appellant sustained.
  Appeal: Appeal Nos. 53, 71 and 72 of 2012 disposed of by SAT on 10 September 2013; Appeal 53 dismissed and Appeals 71 and 72 partially allowed.
• Execution of self, reversal and synchronized trades in Gulshan Polyols Limited shares, allegedly creating artificial volume and contributing to an artificial price rise; failure by Bhavesh Pabari and M/s Shree Radhe to furnish information sought under investigation.
  Appeal No. 53 of 2012 dismissed; Rs. 20 lakh penalty on Hemant Sheth sustained. · Appeal Nos. 71 and 72 of 2012 partly allowed; Rs. 10 lakh information-failure penalties quashed.
  Appeal: Appeal Nos. 53, 71 and 72 of 2012 disposed of by common SAT decision dated 10 September 2013; Appeal 53 dismissed and Appeals 71 and 72 partly allowed.
• Connected clients executed self, reversal and synchronized trades in Gulshan Polyols Ltd to create artificial volume and inflate price in violation of FUTP Regulations.
  Appeal No.53 of 2012 dismissed, Rs 20 lakh penalty under Sec 15HA sustained · Appeal Nos.71 and 72 of 2012 dismissed as to Rs 20 lakh penalty under Sec 15HA
  Appeal: Appeal No.53, 71 and 72 of 2012 heard together, reserved on 28 August 2013 and disposed by common order on 10 September 2013