Mahesh Meetal HUF

3 matters before the Securities Appellate Tribunal

Penalties and directions recorded

CGM imposed Rs.10,00,000 under Sec.15HA for PFUTP violation and Rs.1,00,000 under Sec.15A(b) for PIT non-disclosure
CGM impugned order imposed Rs.10,00,000 under Sec.15HA for PFUTP violation and Rs.1 lakh under Sec.15A(b) for PIT non-disclosure

SAT-appeal

Noticees 5 and 6 allegedly placed buy orders substantially above LTP to inflate PFL scrip in Patch 3, enabling Noticee 2 (CMD) to offload ~14,000 shares at profit.
Appeal: Appeal Nos.129,195,319,320 of 2023 with Misc.Appl.431,434 of 2023; hearing 11.05.2023, decision 07.06.2023
Noticees 5 and 6 placed buy orders substantially above LTP in Patch 3 to inflate PFL price to enable Noticee 2 CMD to offload ~14000 shares; Noticee 3 alleged intermediary.
CGM imposed Rs.10,00,000 under Sec.15HA for PFUTP violation and Rs.1,00,000 under Sec.15A(b) for PIT non-disclosure · SAT held charge against Noticee 3 not proved on mere connection; no trade or connivance shown
Appeal: Appeal Nos.129, 195, 319, 320 of 2023 with Misc. Appl. 431,434 of 2023 heard 11.05.2023 decided 07.06.2023
Noticees 5 and 6 placed buy orders substantially above LTP in Patch 3 to raise price, enabling Noticee 2 CMD to offload ~14,000 shares at profit; Noticee 3 allegedly facilitated as intermediary; Noticee 2 failed Form D disclosure.
CGM impugned order imposed Rs.10,00,000 under Sec.15HA for PFUTP violation and Rs.1 lakh under Sec.15A(b) for PIT non-disclosure · SAT observed charge against Noticee 3 not proved, facilitation finding based on surmises; final relief not visible in excerpt
Appeal: Appeal Nos.129, 195, 319, 320 of 2023 with Misc.Appl.431,434 of 2023 heard 11.05.2023, decision dated 07.06.2023 against CGM order dated 28.11.2022

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Source: SecMarx — Mahesh Meetal HUF. 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.