Mr. Adolf Pinto

SAT-appeal

• Alleged circular and synchronized trades among a group in scrip of K. Sera Sera Production Ltd. on June 1, June 18 and July 23, 2004.
  Set aside impugned adjudicating officer orders · Remand cases to adjudicating officer for fresh decision in accordance with law
• Alleged circular/synchronized trading in Karuna Cabels Ltd creating artificial volumes with no genuine transfer of beneficial ownership
  Appeal allowed and Adjudicating Officer order dated June 8, 2009 set aside · Parties to bear their own costs
  Appeal: Appeal No. 143 of 2009 allowed on 8.12.2009; AO penalty order set aside
• Alleged participation with eight other brokers in synchronized circular trades in Jindal Polyester Limited, creating artificial market volume and price rise, violating the PFUTP Regulations and broker code of conduct.
  Appeal allowed qua Adolf Pinto. · Impugned adjudication order set aside qua the appellant.
  Appeal: Appeal No. 102 of 2010 decided on 7 September 2010; appeal allowed and impugned order set aside qua Adolf Pinto.
• Stock broker executed synchronized/reverse/circular trades on behalf of son-client in BSEL Infrastructure Realty Ltd and Maharashtra Seamless Ltd creating artificial volumes.
  Appeal No. 202 of 2010 dismissed with no order as to costs · AO order dated 30 August 2010 imposing Rs 2 lacs penalty upheld - appellant held guilty
  Appeal: Appeal No. 202 of 2010 decided on 19.01.2011 - dismissed