Rajasekharan Devaki

SAT-appeal

• Alleged price manipulation and fraudulent or unfair trade practices through synchronized/miniscule trades in TCP shares to depress prices and facilitate V.R. Venkatachalam’s acquisition; Venkatachalam and Rajasekharan were also charged with insider-trading/pre-clearance violations.
  Appeals were dismissed and the Adjudicating Officer’s order dated 31 January 2018 was upheld.
  Appeal: Appeal Nos. 76 of 2018, 98 of 2018 and 99 of 2018 dismissed by SAT on 12 July 2019; order reserved on 23 May 2019.
• Alleged manipulation of TCP Ltd.'s illiquid scrip through coordinated matching trades that depressed prices and benefited promoter V.R. Venkatachalam; Venkatachalam and Rajasekharan were also charged with insider-trading/pre-clearance violations.
  Appeal: Appeal Nos. 76 of 2018, 98 of 2018 and 99 of 2018 were heard together; decision dated 12 July 2019. Disposition is not included in the supplied text.
• Depressing price of illiquid TCP scrip via synchronized miniscule trades to enable promoter to buy 10,24,503 shares cheap; plus opposite transactions without pre-clearance under Model Code.
  Appeal: Appeal Nos. 76, 98, 99 of 2018 with Misc. Applications 412, 413, 416, 407 of 2018; Order Reserved 23.5.2019, Date of Decision 12.7.2019