Navinya Multitrade Pvt. Ltd.

SAT-appeal

• Alleged 'marking the close' in Ruchi Soya on Sept 27, 2012 to inflate cash-market price and futures settlement price, reducing losses on long futures positions.
  WTM to disgorge unlawful gains with 12% p.a. interest as per para 73 of order · AO penalty of Rs.25 lakh to be paid jointly and severally by all noticees
  Appeal: Appeal Nos.406-412/2021 vs WTM order and 433-440/2022 vs AO order; hearing 12.05.2023, decision 10.11.2023
• Alleged 'marking the close' in Ruchi Soya on 27 Sep 2012; connected entities acting in concert manipulated cash price in last 30 mins to inflate futures expiry settlement and cut losses.
  Disgorge unlawful gains with 12% p.a. interest as per para 73 of WTM order · Pay penalty of Rs 25 lakh jointly and severally per AO order
  Appeal: Appeal Nos. 406-412 of 2021 vs WTM order and Appeal Nos. 433-440 of 2022 (plus 466/2022) vs AO order; heard 12.05.2023, decided 10.11.2023, taken together
• Alleged 'marking the close' in Ruchi Soya on 27.09.2012 to inflate cash settlement price and cut losses on expiring long futures.
  Disgorge unlawful gains with 12% p.a. interest as per para 73 of WTM order · Pay Rs.25 lakh penalty jointly and severally per AO order
  Appeal: 15 SAT appeals 406-412/2021 and 433-440/2022 heard 12.05.2023, decided 10.11.2023; final SAT findings truncated in excerpt
• Alleged 'marking the close' in Ruchi Soya on 27 Sept 2012 by connected group manipulating cash price in last 30 mins to inflate futures settlement and reduce losses.
  WTM directed noticees to disgorge unlawful gain with 12% p.a. interest as per para 73 of impugned order · AO directed joint and several penalty of Rs. 25 lakh on all noticees
• Alleged 'marking the close' by connected group in Ruchi Soya in last 30 mins on 27 Sept 2012 to inflate cash settlement price and cut losses on long futures positions.
  WTM directed noticees to disgorge unlawful gains with 12% p.a. interest as per para 73 of impugned order · AO directed joint and several penalty of Rs.25 lakh on all noticees
  Appeal: 15 appeals Nos.406-412 of 2021 vs WTM order and Nos.433-440, 466 of 2022 vs AO order heard together; hearing 12.05.2023, decision 10.11.2023
• Alleged marking the close in Ruchi Soya on 27 Sep 2012 to inflate cash-market closing price and futures settlement price to reduce losses on long futures positions.
  Disgorge unlawful gains with 12% p.a. interest as quantified in para 73 of WTM order · Pay Rs 25 lakh penalty jointly and severally by all noticees per AO order
  Appeal: 15 SAT appeals Nos 406-412/2021 vs WTM order and Nos 433-440/2022 vs AO order; heard 12.05.2023, decided 10.11.2023
• Alleged 'marking the close' in Ruchi Soya on 27.09.2012 to inflate cash settlement price and reduce losses on expiring long futures positions.
  WTM directed noticees to disgorge unlawful gain with 12% p.a. interest as per para 73 · AO directed Rs.25 lakh penalty to be paid jointly and severally by all noticees
  Appeal: Appeal Nos.406-412 of 2021 vs WTM order and Appeal Nos.433-440 of 2022 vs AO order, heard 12.05.2023, decided 10.11.2023
• Alleged marking the close in Ruchi Soya on Sep 27, 2012 - connected group inflated cash price in last 30 mins to raise futures settlement price and cut losses on long futures.
  WTM directed noticees to disgorge unlawful gains with 12% p.a. interest per para 73 of order dated March 19, 2021 · AO directed joint and several penalty of Rs. 25 lakh vide order dated April 29, 2022
  Appeal: Appeal Nos. 406-412 of 2021 and 433-440 of 2022 vs WTM Mar 19, 2021 and AO Apr 29, 2022; heard May 12, 2023, decision Nov 10, 2023
• SAT matter SATV-A7D6CADCB064BBD22F9FE66B
  List for further hearing on 17 February 2023 · Parties to act on digitally signed copy; certified copy available from Registry on payment
  Appeal: Appeal Nos. 406-412 of 2021 and 433-440 of 2022 pending before SAT; adjourned on 25.01.2023 with no disposal
• Alleged 'marking the close' in Ruchi Soya on 27 Sept 2012 to inflate cash closing/settlement price and cut losses on long futures expiring that day.
  Disgorge unlawful gains with 12% p.a. interest as specified in para 73 of WTM order · Pay penalty of Rs.25 lakh jointly and severally per AO order
• Alleged concerted 'marking the close' in Ruchi Soya cash segment on 27 Sept 2012 to inflate futures settlement price and cut losses on long futures expiring that day.
  Disgorgement of unlawful gains with 12% p.a. interest as per para 73 of WTM order · Penalty of Rs.25 lakh jointly and severally by all noticees per AO order
• Alleged concerted 'marking the close' in Ruchi Soya on 27 Sep 2012 inflating cash price from Rs 70.65 to Rs 78.65 to set higher futures settlement and avoid losses on long positions.
  WTM directed noticees to disgorge unlawful gain with 12% p.a. interest as specified in para 73 of order dated 19 March 2021 · AO directed joint and several penalty of Rs 25 lakh vide order dated 29 April 2022
  Appeal: 15 appeals: Nos.406-412 of 2021 vs WTM order and Nos.433-440 of 2022 (incl 466 of 2022) vs AO order; hearing 12.05.2023, decision 10.11.2023