Paramjeet C. Panesar

6 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Each appellant directed to pay Rs. 2 lakh.
Balance penalty not to be recovered after payment; prior deposits to be adjusted.
AO and WTM orders not to be used or relied upon in pending criminal proceedings.
Each appellant shall deposit Rs. 2 lakh.
On deposit, the balance penalty amount shall not be recovered; prior deposits shall be adjusted.

SAT-appeal

Alleged manipulation of the scrip price through an arrangement involving connected entities, creating artificial inflation and trading volumes in four trading patches.
Each appellant directed to pay Rs. 2 lakh. · Balance penalty not to be recovered after payment; prior deposits to be adjusted.
Appeal: Appeal Nos. 703 to 707 of 2021, 462, 574 to 576, and 582 to 585 of 2022 disposed of on 18 May 2023.
Manipulation of the scrip price through connected entities in four trading patches, creating artificial inflation and trading volumes through counterparties to share sales.
Each appellant shall deposit Rs. 2 lakh. · On deposit, the balance penalty amount shall not be recovered; prior deposits shall be adjusted.
Appeal: Appeal Nos. 703 to 707 of 2021, 462, 574 to 576, and 582 to 585 of 2022 disposed of on 18 May 2023; miscellaneous applications also disposed of.
Manipulation of the scrip price in four trading patches through connected entities, creating artificial inflation and trading volumes; counterparties also traded shares sold by allottees.
Each appellant must pay/deposit Rs. 2 lakh. · Balance penalty is not to be recovered after payment; interim deposits are to be adjusted.
Appeal: Appeal Nos. 703-707 of 2021, 462, 574-576, 582-585 and 615 of 2022 disposed of on 18 May 2023; miscellaneous applications also disposed of.
Manipulation of the scrip price and creation of artificial inflation and trading volume through connected entities and counterparties, violating PFUTP Regulations.
Each appellant to deposit Rs. 2 lakh. · Balance penalty amount shall not be recovered after deposit; prior interim deposits to be adjusted.
Appeal: Appeal Nos. 703-707 of 2021, 462, 574-576, 582-585 and 615 of 2022 disposed of on 18 May 2023.
Manipulation of the scrip price through connected entities, creating artificial inflation and trading volumes, and fraudulent and manipulative transactions.
Each appellant must deposit Rs. 2 lakh. · Balance penalty amount shall not be recovered; prior deposits will be adjusted.
Appeal: Appeal Nos. 703 to 707 of 2021, 462, 574 to 576, 582 to 585 and 615 of 2022 disposed of on 18 May 2023.
Company and directors with 83 connected entities manipulated scrip price in four patches and created artificial inflation/volume via sales by 1059 allottees, violating PFUTP Regulations 3 and 4.
Appellants to pay Rs 2 lakh each; if deposited balance not to be recovered · Any deposit under interim order to be adjusted
Appeal: Appeal Nos 703-707 of 2021, 462, 574-576, 582-585, 615 of 2022 disposed on 18.05.2023 with reduced penalty and debarment

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Source: SecMarx — Paramjeet C. Panesar. 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.