Manubhai Shah

SAT-appeal

• The appellants allegedly acquired Oasis Media Matrix Limited shares and transferred them through intermediaries to clients who sold them through synchronized and other trades, creating artificial volumes and manipulating the scrip price.
  Impugned SEBI order dated 31 July 2007 set aside qua the three appellants. · Matter remanded to SEBI to issue a fresh show cause notice and proceed in accordance with law.
  Appeal: Appeal No. 189 of 2007 decided on 7 March 2008; impugned order set aside qua the appellants and matter remanded.
• Alleged collusion to create artificial volumes in Oasis Media Matrix Ltd and offload holdings via off-market transfers to buyers who sold on-market, violating Regulation 4 PFUTP.
  Appeal allowed · Impugned adjudication order dated 9 November 2009 set aside qua all appellants
  Appeal: Appeal No. 16 of 2010 decided on 1.3.2011 - allowed, common adjudication order dated 9 November 2009 set aside