SMC Global Securities Ltd.

SAT-appeal

• SAT matter SATV-064D36509EF4375D0BFA4294
  Hearing was heard in part and adjourned for continuation on 16 December 2022. · All concerned parties were directed to act on the digitally signed copy of the order.
  Appeal: Appeal No. 80 of 2020 and Appeal No. 757 of 2021 were heard in part; continuation listed for 16 December 2022.
• SAT matter SATV-08B67EDF6851C3BA281281AC
  Appeals Nos. 80 of 2020 and 441 of 2020 listed for further hearing on 20 October 2022 · Parties directed to act on the digitally signed order
  Appeal: Appeal Nos. 80 of 2020, 441 of 2020, 370 of 2021 and 757 of 2021 were pending; Appeals Nos. 80 of 2020 and 441 of 2020 listed for further hearing on 20 October 2022
• SAT matter SATV-08709A8983614270AE74DB91
  Appeal could not be taken up due to paucity of time. · Appeal listed for 23 September 2022.
  Appeal: Appeal No. 757 of 2021 was adjourned on 7 September 2022 and listed for 23 September 2022; no disposal on merits mentioned.
• SEBI alleged that the appellants violated the PFUTP Regulations through unfair/preferential access to NSE co-location secondary servers and sought disgorgement of alleged unlawful gains.
  Common order disposed of Appeals Nos. 116 to 120 of 2025 and connected miscellaneous applications.
  Appeal: Appeal Nos. 116, 117, 118, 119 and 120 of 2025 under Section 15T; heard and reserved on 17 December 2025, order pronounced on 13 February 2026.
• Alleged improper liquidation of end-clients’ securities to recover proprietary or trading-member dues, without adequate due diligence or ensuring use only for the relevant clients’ obligations.
  Appeals were dismissed and the Committee’s directions to reinstate or buy and return wrongly sold client securities were upheld. · Appellants were required to reinstate securities within 15 days, failing which equivalent value plus 5% mark-up could be blocked from available collateral.
  Appeal: Appeal Nos. 441 of 2020, 80 of 2020, 370 of 2021 and 757 of 2021; decided by SAT on 15 December 2023. The appeals challenged NCL Committee orders dated 20 October 2020, 13 February 2020, 3 May 2021 and 7 December 2021 respectively.
• SAT matter SATV-14ADEEFF0854968DC28EF1AD
  Leave granted to withdraw bulky written submissions and annexed authorities · Liberty granted to file short written submissions confined to submissions truly made in rejoinder
  Appeal: Appeal Nos. 116 to 120 of 2025 were mentioned on 9 January 2026; no final disposal of the appeals is recorded.
• SAT matter SATV-23F002BA3349484A981560B2
  Matters listed on 2 January 2023 for further hearing of the respondents · Parties directed to act on the digitally signed copy of the order
  Appeal: Appeal No. 80 of 2020 and Appeal No. 757 of 2021 were pending; listed on 2 January 2023 for further hearing of the respondents
• Alleged fraudulent and unfair trade practices involving preferential access to NSE co-location secondary servers and disgorgement of unlawful gains under PFUTP Regulations.
  Five appeals and connected miscellaneous applications were disposed of by common order. · Appeals challenged SEBI show cause notices and subsequent emails; operative merits directions are not stated in the provided text.
  Appeal: Appeal Nos. 116, 117, 118, 119 and 120 of 2025 were disposed of by common SAT order dated 13 February 2026; detailed final disposition is not included in the provided text.
• SAT matter SATV-21E198A6DFF4B3F4DB71D2B7
  List Miscellaneous Applications and appeals on 19 December 2022 · Parties to act on the digitally signed copy of the order
  Appeal: Appeal Nos. 80 of 2020 and 757 of 2021 were pending before SAT; listed on 19 December 2022
• Failure by clearing/professional clearing members to conduct adequate due diligence and prevent client securities from being used to meet trading members’ proprietary obligations.
  Four appeals challenging NCL Committee orders were taken up together; operative disposition is not contained in the provided text.
  Appeal: Appeal Nos. 441 of 2020, 80 of 2020, 370 of 2021 and 757 of 2021 were heard together; decision dated 15 December 2023.
• SAT matter SATV-50917006BAE9F2A4DF8B9D2D
  Bench not available on 18.11.2022; list matters on December 15, 2022 · Parties to act on digitally signed copy; certified copy from Registry on payment
  Appeal: Appeal No. 80 of 2020 and Appeal No. 757 of 2021 pending; adjourned from 18.11.2022 to 15.12.2022 due to bench non-availability
• SAT matter SATV-5C079283559FC9D65038C2D8
  List on August 3, 2022 · Parties to act on digitally signed copy of order; certified copy available from Registry on payment
  Appeal: Appeal No. 80 of 2020 and Appeal No. 757 of 2021 pending; adjourned on 05.07.2022 and listed on August 3, 2022, no disposal
• SAT matter SATV-5C3ECB821B14D9E08CDE9C35
  Adjournment granted on appellants' request; matter to be called on April 30, 2025 by consent
  Appeal: Appeal Nos. 116, 117, 118, 119 and 120 of 2025 pending; adjourned on 07.04.2025 to 30.04.2025, not disposed
• SAT matter SATV-683F65754AD6A16754622E1F
  List matters on July 5, 2022 · Parties to act on digitally signed copy; certified copy available on payment of usual charges
  Appeal: Appeal No. 80 of 2020 and Appeal No. 757 of 2021 pending; adjourned to July 5, 2022 vide order dated 29.04.2022
• SAT matter SATV-6535C9F322A30FDBE32E8933
  By consent, call on September 26, 2025
  Appeal: Appeal Nos. 116, 117, 118, 119 and 120 of 2025 pending before SAT; adjourned by consent to September 26, 2025 vide order dated 25.09.2025
• SAT matter SATV-7B90FAF2FED8E0B00EA8AFE0
  List matters on December 19, 2022 · Parties to act on digitally signed copy; certified copy available from Registry on payment
  Appeal: Appeal No. 80 of 2020 and Appeal No. 757 of 2021 pending; listed on December 19, 2022
• SAT matter SATV-83291B31997623D794D0BEC5
  Bench not available, list matters on December 15, 2022 · Parties to act on digitally signed copy; certified copy available from Registry on payment of usual charges
  Appeal: Appeal No. 80 of 2020 and Appeal No. 757 of 2021 pending; adjourned to 15 December 2022 vide order dated 18.11.2022
• SAT matter SATV-8AF861AE5FEB2BE075A53EE4
  Three weeks time allowed to appellant in Appeal No. 757 of 2021 · List both appeals for admission and final disposal on April 29, 2022
  Appeal: Appeal No. 80 of 2020 and Appeal No. 757 of 2021 pending; adjourned for admission and final disposal on April 29, 2022
• Alleged preferential access to NSE co-location secondary server for lower latency advantage in violation of PFUTP Regulations, calling for disgorgement of unlawful gains.
  Appeal: Appeal Nos. 116,117,118,119,120 of 2025 filed Feb 2025 u/s 15T; heard and reserved 17 Dec 2025, pronounced 13 Feb 2026
• SAT matter SATV-8A8D9497C4E8B9D781220536
  Three weeks time allowed to appellant in Appeal No. 757 of 2021 · List both appeals for admission and for final disposal on April 29, 2022
  Appeal: Appeal No. 80 of 2020 and Appeal No. 757 of 2021 pending; listed for admission and final disposal on April 29, 2022
• SAT matter SATV-9CA9AD38E01F158D8339A3D4
  Three weeks time allowed to SMC Global Securities Ltd. to file rejoinder · Both appeals listed for admission and for final disposal on March 29, 2022
  Appeal: Appeal No. 80 of 2020 and Appeal No. 757 of 2021 pending; adjourned for admission and final disposal on March 29, 2022
• SAT matter SATV-8C7DC83A2689B5D88FB9498B
  Leave granted to withdraw bulky written submissions with liberty to file short rejoinder submissions
  Appeal: Appeal Nos. 116, 117, 118, 119 and 120 of 2025 pending before SAT; procedural order dated 09.01.2026, no final disposal
• SAT matter SATV-AE6DCA6784A72B8F91BCB689
  Matter adjourned and listed on November 18, 2022 · Parties to address court through physical mode on next date
  Appeal: Appeal No. 80 of 2020 and Appeal No. 757 of 2021 pending; adjourned vide order dated 20.10.2022 to 18.11.2022
• SAT matter SATV-AB6617BE4F4DAE37294A988F
  Matter put up on February 10, 2023 for continuation of rejoinder arguments · Parties to act on digitally signed copy; certified copy from Registry on payment
  Appeal: Appeal No. 80 of 2020 and Appeal No. 757 of 2021 pending; rejoinder part-heard, adjourned to 10.02.2023, not disposed
• Alleged unfair access to NSE co-location via secondary-server connections in violation of PFUTP Regulations, calling for disgorgement of unlawful gain.
  Appeal: Appeal Nos.116-120 of 2025 filed Feb 2025 u/s 15T; heard and reserved 17 Dec 2025, pronounced 13 Feb 2026
• SAT matter SATV-C676C6D1F15D53FB9E995F9C
  Adjourned by consent, to be called on July 16, 2025
  Appeal: Appeal Nos. 116, 117, 118, 119, 120 of 2025 with connected misc applications pending; adjourned to July 16, 2025
• SAT matter SATV-BF4532C551BD2C16D4BD7D53
  Three weeks time allowed to appellant in Appeal No. 757 of 2021 · Both appeals listed for admission and final disposal on April 29, 2022
  Appeal: Appeal No. 80 of 2020 and Appeal No. 757 of 2021 pending; listed for admission and final disposal on April 29, 2022 with Misc. Applications Nos. 99/2020, 482/2020, 1346/2021, 1407/2021
• SAT matter SATV-C68D30BCB0E51B0B6D27B76B
  List for admission on March 4, 2025
  Appeal: Appeal Lodging No. 112 of 2025 with Misc. Application Nos. 241, 242 and 243 of 2025 pending, listed for admission on March 4, 2025
• SAT matter SATV-D87CD9ED770224C1AF01A83F
  List matters on September 7, 2022 · Parties to act on digitally signed copy; certified copy available from Registry on payment of charges
• SAT matter SATV-D8FC1C5B2FF102E31DFEF27C
  List on January 2, 2023 for further hearing of the respondent · Parties to act on digitally signed copy; certified copy available from Registry on payment
  Appeal: Appeal No. 80 of 2020 and Appeal No. 757 of 2021 pending before SAT; adjourned to 02.01.2023
• SAT matter SATV-EAB7036056C1E7E1794D5DB4
  Leave granted to withdraw bulky written submissions with liberty to file short written submissions confined to rejoinder arguments
  Appeal: Appeal Nos. 116 to 120 of 2025 pending before SAT; procedural order dated 09.01.2026 permits withdrawal of written submissions, matters not disposed
• SAT matter SATV-F7539CC1648F81530D5DB67B
  Urgency application disposed as appeal taken up for admission · Appeal connected with Appeal No.80 of 2020 and listed on 14 January 2022
  Appeal: Appeal No.757 of 2021 with Misc. Applications No.1406 and 1407 of 2021 pending; urgency disposed on 23.12.2021, next listing 14.01.2022
• SAT matter SATV-4E4E4472018420B366AE6968
  Miscellaneous Application No. 133 of 2022 disposed of. · Appeal No. 757 of 2021 to be listed on 23 February 2022.
  Appeal: Miscellaneous Application No. 133 of 2022 in Appeal No. 757 of 2021 disposed of on 22 February 2022; appeal listed for 23 February 2022.
• SAT matter SATV-58E53EDD619349923CBC89C2
  Part heard; by consent listed for further hearing on 16 December 2025 at 2:30 p.m.
  Appeal: Appeal Nos. 116, 117, 118, 119 and 120 of 2025 part heard on 15.12.2025; posted for further hearing on 16.12.2025
• Clearing member SMC Global allegedly misused securities of Sunchan's clients including appellants in collusion with trading member Sunchan and made wrongful gains; disgorgement/restitution sought.
  Appeal No. 165 of 2020 dismissed as lacking merit and misuse of process · No order as to costs
• SAT matter SATV-8506284D80DD36CDC46966B4
  Appeals taken up for hearing on mention by intervenor; arguments commenced by counsel for Edelweiss · List appeals for further hearing on October 20, 2022
  Appeal: Appeal Nos. 80 of 2020, 441 of 2020, 370 of 2021, 757 of 2021 pending before SAT; arguments started on 23.09.2022; listed for further hearing on 20 October 2022
• Clearing members failed due diligence and misutilised end-clients securities to meet trading members proprietary dues in contravention of SEBI circular and NCL Rules.
  Directs appellants to reinstate securities by market purchase within 15 days · On failure block amount equal to 16th day NSE closing price plus 5% mark-up from collateral with NCL
  Appeal: Appeal Nos. 441 of 2020, 80 of 2020, 370 of 2021 and 757 of 2021 before SAT; heard 10.02.2023, decided 15.12.2023
• SAT matter SATV-AE8457DEAFE173BBA967CDDD
  Arguments of Shri P.N. Modi continuing; listed for further hearing on February 7, 2023 · Parties to act on digitally signed copy; certified copy available from Registry on payment
  Appeal: Appeal No. 80 of 2020 and Appeal No. 757 of 2021 pending; arguments continuing on 11.01.2023
• SAT matter SATV-CCB670940C499BCB73F06499
  Leave granted to withdraw bulky written submissions with liberty to file short submissions confined to rejoinder arguments
  Appeal: Appeal Nos. 116,117,118,119,120 of 2025 pending before SAT; procedural order dated 09.01.2026, not finally disposed
• PCM/CM failed due diligence and liquidated end-client securities pledged via trading member to meet trading member proprietary/debit obligations, in contravention of SEBI circular and NCL Rules.
  Committee directed appellants to reinstate securities by procuring from market within 15 days · Failing reinstatement, amount equivalent to value of securities as on 16th day at NSE closing price plus 5% mark-up to be blocked from available collateral with NCL
  Appeal: Appeal Nos. 441/2020, 80/2020, 370/2021, 757/2021 heard 10.02.2023, decided by SAT 15.12.2023
• SAT matter SATV-F9BB0AC4720EC262E6DC3271
  Order reserved after hearing counsel for parties at length · Written submissions, if any, may be filed by parties within two weeks
  Appeal: Appeal No. 80 of 2020 and Appeal No. 757 of 2021 heard at length; order reserved on 10.02.2023
• SAT matter SATV-F0AF7E1E27B86701CA9009B1
  Leave granted to withdraw bulky written submissions with liberty to file short written submissions confined to rejoinder arguments
  Appeal: Appeal Nos. 116, 117, 118, 119, 120 of 2025 pending before SAT; procedural order dated 09.01.2026; not finally disposed
• Short/non-collection of F&O margin from two TMs, collection in non-permissible forms and wrong reporting to NSE causing excess exposure and default
  WTM order dated August 02, 2013 prohibiting SMC from taking up any new assignment/contract or launching new scheme for three months (challenged in appeal)
  Appeal: Appeal No. 152 of 2013, reserved on 06.12.2013, decided on 31.01.2014 before SAT
• SAT matter SATV-FCB0CEF68BD60CF0DF589E8B
  Heard learned counsel for parties; order reserved
  Appeal: Appeal Nos. 116, 117, 118, 119 and 120 of 2025 heard on 17.12.2025; order reserved