Pawan Kumar Garg

SAT-appeal

• Appellants alleged that MCX and its clearing corporation failed to address negative pricing in crude-oil futures, causing collapse of margin and risk mechanisms and improper settlement losses.
  Appeal No. 349 of 2020 dismissed summarily. · Appeal No. 289 of 2020 dismissed summarily.
  Appeal: Appeal Nos. 349 of 2020 and 289 of 2020 dismissed by SAT on 18 December 2020.
• Stock broker failed KYC/AML verification, non-settlement of client funds/securities, non-segregation and mis-utilisation of client funds/securities including pledging NIL/credit balance clients securities for LAS, non-cooperation and failure to redress grievances.
  Appeal dismissed summarily at admission stage · Confirmed WTM 7-year securities market access restraint
  Appeal: Appeal No. 890 of 2023 dismissed summarily on 30.11.2023; Misc. Applications 1539,1540,1541 of 2023 disposed of
• SAT matter SATV-4304288F49D5CFB2452DEF2A
  Both appeals heard together as raising common issue · Order reserved
  Appeal: Appeal Lodging Nos. 353/2020 and 295/2020 with Misc. Apps 359, 480, 303/2020 - order reserved on 03.12.2020
• Alleged systematic failure by MCX/MCXCCL in allowing negative settlement price for crude oil futures, collapse of margin and risk mechanism with no system provision for negative price trading.
  Delay in filing Appeal No. 349 of 2020 and Appeal No. 289 of 2020 condoned · Exemption from filing certified copy allowed in Appeal No. 349 of 2020
  Appeal: Appeal No. 349 of 2020 and Appeal No. 289 of 2020 reserved on 03.12.2020 and dismissed summarily by SAT order dated 18.12.2020
• SAT matter SATV-B647FF1B6DC04BB04A36FF61
  Both appeals heard together as raising common issue · Order reserved after hearing