Nirmal N. Kotecha

SAT-appeal

• Alleged self-trading with group entities in Usher Agro Limited, creating artificial volume and manipulating the market; alleged failure to make SAST and PIT disclosures after shareholding rose from 4.70% to 5.19%.
  Appeal against the WTM order was allowed on the basis of issue estoppel. · The two-year debarment from buying, selling or otherwise dealing in securities was set aside.
  Appeal: Appeal No. 580 of 2019 decided on 8 June 2021; appeal allowed.
• SAT matter SATV-72D6AFED9D7245C3224ED2B7
  List Appeal No. 580 of 2019 for admission and final disposal on January 29, 2021 · Appellant to file scanned copy of memo of appeal before registry
  Appeal: Appeal No. 580 of 2019 pending; listed for admission and final disposal on January 29, 2021
• SAT matter SATV-73F5452ED8FEC442F0D4D237
  List Appeal No. 580 of 2019 on April 20, 2021 · Parties to take instructions from Registrar 48 hrs before fixed date on video vs physical hearing
  Appeal: Appeal No. 580 of 2019 pending; heard on 19.03.2021 and adjourned to 20.04.2021 without disposal
• Serious securities law violations leading to 14-year direct/indirect market restraint and disgorgement per SEBI orders (specific provisions not stated)
  Appellant allowed to sell Usher Agro Ltd shares under SEBI supervision · Sale proceeds to be kept in escrow account with SEBI towards disgorgement without prejudice
  Appeal: Appeal No. 261 of 2018 pending before SAT; Misc. Application No. 215 of 2018 disposed on 01.08.2018; appeal adjourned to 17.09.2018
• SAT matter SATV-8A588F8ACCB2D2AA96E47C00
  List on April 29, 2021 · Parties may file written submissions in the meanwhile
  Appeal: Appeal No. 580 of 2019 (Nirmal N. Kotecha vs SEBI) pending before SAT; next listed on 29 April 2021
• SAT matter SATV-F462D4CF262C67553E079E63
  Delay of 13 days in Appeal No. 302 of 2015 condoned; Misc. Application No. 203 of 2015 disposed · SEBI communication dated 30.03.2015 does not survive in view of SEBI counsel statement
  Appeal: Appeal Nos. 302 & 327 of 2015 disposed as infructuous on 19.05.2016; Misc. Application No. 203 of 2015 allowed
• SAT matter SATV-96EB34049127407BA2D72915
  Delay of 13 days in Appeal No. 302 of 2015 condoned; Misc. Application No. 203 of 2015 disposed · SEBI communication dated 30.03.2015 held not to survive per SEBI counsel statement
  Appeal: Appeal Nos. 302 of 2015 and 327 of 2015 disposed as infructuous on 19.05.2016; Misc. Application No. 203 of 2015 allowed
• Circulation of forged SEBI letter directing PSTL promoter to make open offer and selling shares on false news plus prior price/volume manipulation via synchronized, reversal, self trades through fronts.
  Restraint from accessing securities market for 14 years reduced to period already undergone (9 years) · Disgorgement of Rs. 32,50,882 with interest
  Appeal: Appeal No. 261 of 2018 heard on 20.12.2019 and decided on 02.03.2020