Paramjeet C. Panesar, Karta of Paramjit C. Panesar HUF

5 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Appellants to deposit Rs 2 lakh each; interim deposits to be adjusted
If deposited, balance penalty amount shall not be recovered
AO, WTM and SAT orders not to be utilized in criminal proceedings before Sessions Judge, Mumbai
Appellants to deposit Rs 2 lakh each; interim deposits to be adjusted
Balance penalty amount not to be recovered if Rs 2 lakh deposited

SAT-appeal

Company and directors with 83 connected entities manipulated scrip price in four trading patches and created artificial volume via 77 entities as counterparties to 1059 allottees.
Appellants to deposit Rs 2 lakh each; interim deposits to be adjusted · If deposited, balance penalty amount shall not be recovered
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
Company/directors with 83 connected entities manipulated scrip price in four patches and created artificial volume/inflation violating PFUTP Regulations.
Appellants to deposit Rs 2 lakh each; interim deposits to be adjusted · Balance penalty amount not to be recovered if Rs 2 lakh deposited
Company and directors with 83 connected entities allegedly manipulated scrip price and volume in four trading patches and as counterparties to 1059 allottees.
Appellants to deposit Rs. 2 lakh each; interim deposits to be adjusted · If deposited, balance penalty amount shall not be recovered
Appeal: Appeal Nos. 703-707 of 2021, 462, 574-576, 582-585, 615 of 2022 with Misc Applications disposed on 18.05.2023
Company and directors with 83 connected entities manipulated scrip price in four trading patches and created artificial inflation/volume, violating PFUTP Reg 3 and 4.
Appellants to deposit Rs. 2 lakh each; interim deposits to be adjusted · If deposited, balance AO penalty amount shall not be recovered
Appeal: Appeal Nos. 703-707 of 2021, 462, 574-576, 582-585, 615 of 2022 with Misc. Appl. 736, 919-921 of 2022 disposed on 18.05.2023
Company/directors with 83 connected entities manipulated scrip price in four patches and created artificial volume/inflation as counterparties to 1059 allottees.
Appellants to deposit Rs 2 lakh each · On deposit, balance penalty not to be recovered; interim deposits to be adjusted
Appeal: Appeal Nos. 703-707/2021, 462, 574-576, 582-585, 615/2022 disposed of on 18.05.2023

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Source: SecMarx — Paramjeet C. Panesar, Karta of Paramjit C. Panesar HUF. 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.