Pallavi Navinchandra Mehta

4 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Matters were adjourned for further hearing on 18 January 2023
Disgorge Rs.77,23,637.07 with interest by Appellant 1-3 per WTM order
Penalty of Rs.40 lakh jointly and severally per AO order
WTM directions included disgorgement of Rs. 77,23,637.07 with interest.
AO penalty of Rs. 40 lakh was imposed jointly and severally for PIT Regulations violations.

SAT-appeal

SAT matter SATV-3D86F50C29E315443C0B7BAC
Matters were adjourned for further hearing on 18 January 2023
Appeal: Appeal Nos. 606 of 2021 and 520 of 2022 were pending and listed for further hearing on 18 January 2023
Insider trading in ADF Foods Ltd during UPSI on proposed buy-back and proposed range Rs.10-15 crore communicated and funded by director Bhavesh Thakkar to family traders.
Disgorge Rs.77,23,637.07 with interest by Appellant 1-3 per WTM order · Restrain Appellant 1-3 from securities market 6 months; ADF Foods securities 1 year
SAT matter SATV-4C065010BC8332F923AA196B
Appeal No. 606 of 2021 and Appeal No. 520 of 2022 listed on 1 December 2022
Appeal: Appeal Nos. 606 of 2021 and 520 of 2022 were pending; listed on 1 December 2022 by order dated 16 November 2022
Insider trading based on unpublished information concerning ADF Foods Limited’s proposed buy-back and proposed buy-back range; alleged communication of UPSI and provision of trading funds through a family member.
Appeals against the WTM order dated 30 March 2021 and AO order dated 23 June 2022 were considered together. · WTM directions included disgorgement of Rs. 77,23,637.07 with interest.
Appeal: Appeal Nos. 606 of 2021 and 520 of 2022; decision dated 6 February 2023; outcome not stated in the provided text.

Analyse these matters in Ontology · Plans

Source: SecMarx — Pallavi Navinchandra Mehta. 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.