Mr. Nishant Kothari

SAT-appeal

• SAT matter SATV-1F4F613E3A16BF28BEA52BCE
  Delay in filing Appeals Nos. 516, 517 and 518 of 2020 was condoned · Miscellaneous Applications Nos. 553, 554 and 555 of 2020 were disposed of
  Appeal: Appeal Nos. 516, 517 and 518 of 2020 were heard together on 21 December 2020; order reserved. No disposal on merits stated.
• Being part of scheme with 22 entities to create artificial volume and inflate price of PSIT Infrastructure scrip through off-market transfers and miniscule on-market sales.
  Appeals allowed in part; liability affirmed but penalty reduced from Rs.5 lakhs to Rs.1 lakh each · Parties to bear their own costs
  Appeal: Appeal Nos. 516, 517 and 518 of 2020 reserved on 21.12.2020, decided on 24.12.2020; allowed in part
• SAT matter SATV-B0163BC96FD9C616EEC1785E
  Delay condoned in Appeal Nos. 516, 517 and 518 of 2020 · Misc. Applications Nos. 553, 554 and 555 of 2020 disposed of accordingly
  Appeal: Appeal Nos. 516, 517 and 518 of 2020 with Misc. Applications 553-555 of 2020; delay condoned, heard on 21.12.2020, order reserved
• SAT matter SATV-C5AD4103F9D09FF0E988CF98
  Delay in filing Appeals condoned; Misc. Applications 553, 554, 555 of 2020 disposed · Three appeals arising from common order taken up together; arguments heard, order reserved
  Appeal: Appeal Nos. 516, 517, 518 of 2020 with Delay Applications 553-555 of 2020 heard 21.12.2020; delay condoned, merits heard, order reserved
• Part of structured collusive scheme to create artificial volume/demand and inflate price of PSIT Infrastructure scrip in violation of PFUTP Regulations 3 and 4.
  Appeals allowed in part; AO order affirmed but penalty reduced from Rs.5 lakhs to Rs.1 lakh each · Parties to bear their own costs
  Appeal: Appeal Nos. 516, 517 and 518 of 2020 reserved on 21.12.2020 and allowed in part on 24.12.2020
• Part of manipulative scheme to create artificial volume and inflate price of PSIT Infrastructure scrip in collusion with 22 entities, violating PFUTP Regulations 3 and 4.
  Appeals allowed in part; liability affirmed but penalty reduced from Rs.5 lakhs to Rs.1 lakh each · Parties to bear their own costs