Namdeo H More

48 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Matters listed for admission and final disposal on 27 April 2021
The Adjudicating Officer was granted two additional months from 25 January 2022 to pass the penalty order.
Appeals allowed to the extent that unlawful-gain calculations and corresponding penalties required reconsideration
Appeals allowed to the extent that the unlawful-gain calculation and consequential penalties require reconsideration.
Matter directed to be remanded for recalculation of unlawful gains and penalties using the appropriate methodology and excluding unsupported sales.

SAT-appeal

SAT matter SATV-053368D4946EB0687DDF18C8
Appellants in all connected appeals directed to deposit 50% of the impugned amount · Balance impugned amount not to be recovered until disposal of the appeals if deposit is made
Appeal: Appeal Nos. 119 to 124 of 2020 pending; connected matters listed for admission and final disposal on 27 April 2021
SAT matter SATV-079A109E937F8BEF0382770C
SEBI's application for further time was allowed. · The Adjudicating Officer was granted two additional months from 25 January 2022 to pass the penalty order.
Appeal: Common Misc. Application No. 67 of 2022 in Appeal Nos. 119 to 124 of 2020; SEBI's application for extension of time allowed on 25 January 2022.
Alleged circular and fraudulent trades among connected appellants, creating a misleading appearance of trading and inflating the price and volume of Sunteck Realty Limited shares.
Appeals allowed to the extent that unlawful-gain calculations and corresponding penalties required reconsideration · Matter remanded for recalculation using the appropriate method and only relevant tainted sales
Appeal: Appeal Nos. 119 to 124 of 2020 decided by SAT on 27 September 2021; common AO order dated 30 December 2019 challenged.
SAT matter SATV-18404713AB849FEAAD6A4E7C
Order reserved; no merits determination or operative relief recorded in the extracted text · Parties directed to act on the digitally signed copy sent by fax and/or email
Appeal: Appeal Nos. 119, 120, 121, 122, 123 and 124 of 2020 heard together; order dated 20 September 2021 states that the order was reserved
SAT matter SATV-1F1819D8AD0A6F79DB8A0E34
Respondent to file reply within three weeks · Appellant to file rejoinder within two weeks thereafter
Appeal: Appeal No. 121 of 2020; procedural directions issued on 1 February 2021; not finally disposed
Executing circular trades and creating a misleading appearance of trading in Sunteck Reality Limited, inflating its price and volume, and obtaining unlawful gains through fraudulent and unfair trade practices.
Appeals allowed to the extent that the unlawful-gain calculation and consequential penalties require reconsideration. · Matter directed to be remanded for recalculation of unlawful gains and penalties using the appropriate methodology and excluding unsupported sales.
Appeal: Appeal Nos. 119, 120, 121, 122, 123 and 124 of 2020 decided by SAT on 27 September 2021; common SEBI AO order challenged.
SAT matter SATV-30AFFEDA49B04C67460795A3
Order reserved; no merits decision or operative relief recorded in the extracted text · Parties directed to act on the digitally signed copy sent by fax and/or email
Appeal: Appeal Nos. 119, 120, 121, 122, 123 and 124 of 2020; heard and order reserved on 20 September 2021
SAT matter SATV-33491D2070EB2E05CEABBEE7
List Appeals Nos. 119–124 of 2020 on 17 March 2021 with miscellaneous applications · Parties to obtain instructions from the Registrar 48 hours before the listed date regarding video conference or physical hearing
Appeal: Appeal Nos. 119, 120, 121, 122, 123 and 124 of 2020 were pending and adjourned for listing on 17 March 2021; no merits disposal stated.
SAT matter SATV-332A6B59AD66E02465B1F5A5
List the matters on 20 September 2021 · Parties to contact the Registrar 48 hours before the listed date regarding video-conference or physical hearing
Appeal: Appeal Nos. 119, 120, 121, 122, 123 and 124 of 2020 were listed for further hearing on 20 September 2021; no disposal on merits stated.
SAT matter SATV-330AFE25F5531C712FF4A3FD
Order reserved; parties directed to act on the digitally signed copy of the order.
Appeal: Appeal Nos. 119 to 124 of 2020 heard; order reserved on 20 September 2021. No disposal on merits stated.
Circular trades via off-market transfers creating misleading appearance of trading, inflating price and unjust enrichment in violation of Reg 3 and 4 PFUTP.
Impugned AO order dated 25.03.2022 quashed · Appeal Nos. 302-306 of 2022 allowed
Appeal: Appeal Nos. 302, 303, 304, 305 and 306 of 2022 allowed and disposed on 28.03.2023
Circular trades in Sunteck Realty Limited creating misleading appearance of trading and inflating price for unjust enrichment
AO had imposed penalty of twice unlawful gains under Section 15HA; SAT reviewing calculation of unlawful gains and penalty
Appeal: Appeal Nos. 119, 120, 121, 122, 123, 124 of 2020 reserved on 20.09.2021 decided on 27.09.2021
SAT matter SATV-503685D7C4EB79A0DF06C6D6
List Appeal Nos. 119-124 of 2020 on 20th September, 2021 · Parties to contact Registrar 48 hours before fixed date to confirm VC or physical hearing
Appeal: Appeal Nos. 119-124 of 2020 pending; adjourned to 20 September 2021 vide order dated 16.7.2021
SAT matter SATV-55EFD9112225B48E2415D66F
Appellants in all appeals to deposit 50% of impugned amount within three weeks from 17.03.2021 · If 50% deposited, balance amount not to be recovered till disposal of appeal
Appeal: Appeal Nos.119,120,121,122,123,124 of 2020 pending before SAT; Misc. Application Nos.269,270,300 of 2021 disposed of on 17.03.2021; next date April 27, 2021 for admission and final disposal
SAT matter SATV-595B03FEEA9538A81B7E2BF6
List on 20th September, 2021 · Parties to contact Registrar 48 hours before date fixed to ascertain video conferencing or physical hearing
Appeal: Appeal Nos. 119, 120, 121, 122, 123, 124 of 2020 pending; adjourned on 16 July 2021 to 20 September 2021, no disposal
SAT matter SATV-35303B9C3925A001742090CB
Order reserved after hearing parties · Parties directed to act on digitally signed copy sent by fax and/or email
Appeal: Appeal Nos. 119, 120, 121, 122, 123 and 124 of 2020 heard on 20.09.2021; order reserved, no disposal yet
SAT matter SATV-4248002FC0109C8AB60F7D38
List Appeals on 20th September, 2021 · Parties to contact Registrar 48 hours before fixed date for hearing mode
Appeal: Appeal Nos.119, 120, 121, 122, 123 and 124 of 2020 pending before SAT; adjourned to 20 September 2021, not disposed on 16 July 2021
SAT matter SATV-5130F0F8AE598ED583D24156
List Appeal Nos. 119-124 of 2020 on March 17, 2021 along with misc. applications · Parties to take instructions from Registrar 48 hours before fixed date on VC vs physical hearing
Appeal: Appeal Nos. 119, 120, 121, 122, 123 and 124 of 2020 pending; adjourned to March 17, 2021
SAT matter SATV-57DE06922886CC6B70D1DE4D
Allow Misc. Application No. 67 of 2022 and grant two months further time from 25.01.2022 to AO to pass fresh order on penalty · Parties to act on digitally signed copy of order sent by fax and/or email
Appeal: Common Misc. Application No. 67 of 2022 in Appeal Nos. 119-124 of 2020 allowed on 25.01.2022; appeals pending for fresh AO order
SAT matter SATV-89B084BB445D92BF8F4E7074
List Appeal Nos. 119-124 of 2020 on March 17, 2021 along with misc. applications · Parties to take instructions from Registrar 48 hours before fixed date on video conference vs physical hearing
Appeal: Appeal Nos. 119, 120, 121, 122, 123 and 124 of 2020 pending before SAT; order dated 10.03.2021 lists them for 17 March 2021, no disposal
SAT matter SATV-8D0725AA9AC2DF774CDEE22B
List Appeal No. 121 of 2020 on February 1, 2021 · Appellant may file scanned copies of memo of appeal etc. before Registry
Appeal: Appeal No. 121 of 2020 pending; adjourned to February 1, 2021, order dated 04.01.2021
Circular trades via off-market transfers creating misleading appearance of trading and inflating price of illiquid scrip, violating PFUTP Regs 3 and 4.
Impugned AO order dated 25 March 2022 quashed · Appeal Nos. 302-306 of 2022 allowed
Appeal: Appeal Nos. 302-306 of 2022 allowed on 28.03.2023; AO order dated 25.03.2022 quashed and remanded; earlier appeals partly allowed on 27.09.2021
SAT matter SATV-AB7B5A5AF075605E26EB3FF3
Order reserved after hearing parties · Parties to act on digitally signed copy sent by fax and/or email
Appeal: Appeal Nos. 119, 120, 121, 122, 123 and 124 of 2020 heard on 20.09.2021; order reserved
SAT matter SATV-555E0C3B6B56E845002F0B30
SEBI's application for further time was allowed. · The AO was granted two additional months from 25 January 2022 to pass the penalty order.
Appeal: Common Misc. Application No. 67 of 2022 allowed in Appeals Nos. 119 to 124 of 2020; decision dated 25 January 2022.
SAT matter SATV-AF6608153E8D1694A06DDE1C
List Appeals No.119-124 of 2020 on 20th September, 2021 · Parties to contact Registrar 48 hours before fixed date to confirm VC or physical hearing
Appeal: Appeal Nos.119, 120, 121, 122, 123, 124 of 2020 pending before SAT; adjourned to 20 September 2021 per order dated 16 July 2021
SAT matter SATV-4BD50DC3EE903DF3310434A8
Miscellaneous Application No. 728 of 2023 was directed to be listed on 19 June 2023.
Appeal: Miscellaneous Application No. 728 of 2023 in Appeal Nos. 302 of 2022, 303 of 2012, 304 of 2022, 305 of 2022 and 306 of 2022; listed for 19 June 2023. No disposal on merits stated.
Alleged circular trading, misleading appearance of trading and price inflation through off-market share transfers to entities that sold in the market, followed by buybacks and repeat transfers, violating PFUTP Regulations 3 and 4.
Impugned AO order dated 25 March 2022 quashed. · Matter remitted to the AO to recalculate unlawful gains.
Appeal: Appeal Nos. 302, 303, 304, 305 and 306 of 2022 allowed on 28 March 2023; connected miscellaneous applications disposed.
SAT matter SATV-D7A2AB0DC9E5A2359C01CF56
List Appeal Nos. 119, 120, 121, 122, 123 and 124 of 2020 on March 17, 2021 along with misc. applications · Parties to take instructions from Registrar 48 hours before fixed date on video-conference vs physical hearing
Appeal: Appeal Nos. 119, 120, 121, 122, 123 and 124 of 2020 pending; adjourned to March 17, 2021, not disposed on March 10, 2021
Circular trades in Sunteck Realty Ltd creating misleading appearance of trading and inflating price via off-market transfers and market buy-backs among connected entities.
SAT held delay not a ground to quash but mitigating for penalty; unlawful gains computation requires reconsideration - full operative part truncated in excerpt
Appeal: Appeal Nos. 119, 120, 121, 122, 123, 124 of 2020 reserved on 20.09.2021, decided on 27.09.2021 against common AO order
SAT matter SATV-CD298037BABA4969CD76F329
Order reserved after hearing parties in Appeal Nos. 119-124 of 2020 · Parties to act on digitally signed copy of order sent by fax and/or email
Appeal: Appeal Nos. 119, 120, 121, 122, 123 and 124 of 2020 heard on 20.09.2021; order reserved, not finally disposed
SAT matter SATV-FE8D2279246C7FCF9087E2AE
Adjourned on request of the appellant · List on 16th July, 2021
Appeal: Appeal Nos. 119, 120, 121, 122, 123 and 124 of 2020 adjourned on appellant request, next listed on 16 July 2021
SAT matter SATV-F791097AEE4631C5B65CB94C
List Appeal Nos. 119-124 of 2020 on March 17, 2021 along with misc. applications · Parties to take instructions from Registrar 48 hours before fixed date on video vs physical hearing
Appeal: Appeal Nos. 119, 120, 121, 122, 123 and 124 of 2020 pending; vide order dated 10.03.2021 listed on March 17, 2021
Circular trades via off-market transfers to create misleading appearance of trading and inflate price of illiquid scrip.
Impugned AO order dated 25 March 2022 quashed; appeals allowed · Matter remitted to AO to recalculate unlawful gains only on tainted shares sold inter-se between appellants/noticees
Appeal: Appeal Nos. 302, 303, 304, 305 and 306 of 2022 allowed on 28.03.2023; AO order dated 25.03.2022 quashed and remanded
SAT matter SATV-FCBCAF5477C18A520782A313
Adjourned on request of appellant · List appeals on 16 July 2021
Appeal: Appeal Nos. 119, 120, 121, 122, 123 and 124 of 2020 adjourned on 14.6.2021, next listed 16 July 2021
SAT matter SATV-FE8B1020D37A6A851C807C64
Appellants in all appeals to deposit 50% of impugned amount within three weeks · If deposited, balance amount not to be recovered till disposal of appeal
Appeal: Appeal Nos.119,120,121,122,123,124 of 2020 pending; Misc Appl Nos.269,270,300 of 2021 disposed with conditional stay; next date 27 April 2021
Circular trades in Sunteck Realty Ltd creating misleading appearance of trading, inflating price and cornering 78-85% volume for unjust enrichment
Delay cannot quash SCN or AO order but is mitigating factor for penalty · Plea of non-supply of trade logs rejected as inspection was offered
Appeal: Appeal Nos. 119 to 124 of 2020, Order Reserved On 20.09.2021, Date of Decision 27.09.2021
SAT matter SATV-77493CD9E0650652512F3345
Appellants in all appeals directed to deposit 50% of the impugned amount · Balance impugned amount not to be recovered if 50% is deposited
Appeal: Appeal Nos. 119 to 124 of 2020 were pending before SAT; listed for admission and final disposal on 27 April 2021
SAT matter SATV-4997ADB6E9CD11982C2038B2
Appellants in all appeals to deposit 50% of impugned amount within three weeks · If deposited, balance amount not to be recovered till disposal of appeal
Appeal: Appeal Nos.119,120,121,122,123,124 of 2020 pending; Misc. Applications Nos.269,270,300 of 2021 disposed of on 17.03.2021; listed for admission and final disposal on 27 April 2021
SAT matter SATV-4B64A43C1053470AA7BA2F41
Adjudicating Officer to pass appropriate orders pursuant to order dated March 28, 2023 on or before September 30, 2023 · Misc. Application No. 728 of 2023 disposed of
Circular off-market transfers to many entities who sold in market to create misleading appearance of widespread trading and inflate price of illiquid scrip.
Quashed AO order dated 25 March 2022 · Allowed Appeal Nos. 302-306 of 2022
Appeal: Appeal Nos. 302-306 of 2022 allowed on 28.03.2023 and remanded; earlier appeals partly allowed on 27.09.2021
SAT matter SATV-94D38F8C3F9CEF6D7EF99994
Allowed Common Misc. Application No. 67 of 2022 and granted AO two months further time from 25.01.2022 to pass order on reconsideration of penalty
Appeal: Appeal Nos. 119, 120, 121, 122, 123, 124 of 2020 pending; Common Misc. Application No. 67 of 2022 by SEBI allowed on 25.01.2022
SAT matter SATV-BE3840F88DA19747AB82356E
Order reserved after hearing counsel for parties · Parties to act on digitally signed copy sent by fax and/or email
Appeal: Appeal Nos. 119, 120, 121, 122, 123 and 124 of 2020 heard on 20.09.2021; order reserved, not finally disposed
SAT matter SATV-C8D1648C1570E45830252FAF
List Appeal Nos.119-124 of 2020 on 20th September, 2021 · Parties to contact Registrar 48 hours before fixed date to ascertain video conferencing or physical hearing
Appeal: Appeal Nos.119,120,121,122,123,124 of 2020 pending before SAT; adjourned to 20 September 2021 vide order dated 16 July 2021
SAT matter SATV-C805798A81901BD2CB48D54A
Adjourned on request of the appellant · List on 16th July, 2021
Appeal: Appeal Nos. 119, 120, 121, 122, 123 and 124 of 2020 adjourned on 14.6.2021, next listed 16 July 2021
Circular trades among connected entities via off-market transfers creating misleading appearance of trading and inflating Sunteck Realty price.
AO had imposed penalty of twice unlawful gains under Section 15HA; SAT final directions truncated in excerpt
Appeal: Appeals 119-124 of 2020 against AO order dated 30.12.2019, reserved 20.09.2021, decided 27.09.2021
SAT matter SATV-C5798D8D0CD4EB5675422F2D
Appellants in all appeals to deposit 50% of impugned amount within three weeks; balance not to be recovered till disposal if deposited · Misc. Applications disposed of with above conditional stay direction
Appeal: Appeal Nos.119, 120, 121, 122, 123 and 124 of 2020 pending before SAT; listed for admission and final disposal on April 27, 2021
SAT matter SATV-C9FC304678D7467B8BE62299
Adjourned on request of the appellant · List on 16th July, 2021
Appeal: Appeal Nos. 119, 120, 121, 122, 123 and 124 of 2020 pending before SAT; adjourned on 14.6.2021 on appellants request, next listed on 16 July 2021

Other

SAT matter SATV-9C6B9B7290EAE9C8A19556C8
List Appeal Nos. 119-124 of 2020 on March 17, 2021 along with misc. applications · Parties to take instructions from Registrar 48 hours before date fixed on VC vs physical hearing
Appeal: Appeal Nos. 119, 120, 121, 122, 123, 124 of 2020 pending before SAT; order dated 10.03.2021 only lists them for 17.03.2021; not disposed

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Source: SecMarx — Namdeo H More. 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.