M/s. Prashant J. Patel

SAT-appeal

• Alleged synchronized trades with Ketan Parekh group entities in Ranbaxy Laboratories shares, involving circular rotation without change in beneficial ownership and creation of artificial volumes and a false market.
  Appeal allowed · SEBI whole-time member order dated 7 December 2006 imposing seven-day suspension set aside
  Appeal: Appeal No. 150 of 2006, decided on 17 August 2010; appeal allowed and impugned SEBI order set aside.
• Synchronized/matched trades in Roofit Industries Ltd to circulate shares among connected promoter entities, violating FUTP and broker conduct norms.
  Finding of violation of Regulation 4 FUTP and Stock Brokers Regulations upheld · Inordinate delay held significant mitigating factor; final operative relief truncated in text
  Appeal: Appeal No.108 of 2012 decided on 12.11.2012; violation finding upheld with delay as mitigating factor