Shakira Shaikh

SAT-appeal

• Manipulation of Partani Appliances Limited's scrip by selling miniscule quantities above the last traded price while large buy orders were pending, to raise the price and trading volume.
  All four appeals dismissed. · AO's penalty orders imposing Rs. 5 lakh on each appellant upheld.
  Appeal: Appeal Nos. 426, 574, 573 and 659 of 2021 dismissed by SAT on 24 December 2021.
• Manipulation of the price and trading volume of Partani Appliances Limited by selling minuscule quantities above the last traded price while large buy orders were pending, constituting fraudulent and unfair trade practices.
  All four appeals dismissed. · SEBI AO order dated 31 March 2021 imposing penalties upheld.
  Appeal: Appeal Nos. 426, 574, 573 and 659 of 2021 dismissed by SAT on 24 December 2021; impugned common AO order dated 31 March 2021 upheld.
• SAT matter SATV-9DC2099FB8907729F06960A9
  List Appeal No. 574 of 2021 on October 29, 2021 · Parties to take instructions from Registrar 48 hrs before date fixed on video conference vs physical hearing
  Appeal: Appeal No. 574 of 2021 with Misc. Application No. 941 of 2021 pending; heard on 02.09.2021 and adjourned to 29.10.2021
• Large scale manipulation in scrip of Partani Appliances Limited by connected entities selling miniscule quantities above LTP to raise price, violating PFUTP Regulations 3 and 4.
  All four appeals dismissed · AO penalty of Rs 5 lakh per appellant upheld
  Appeal: Appeal Nos. 426, 573, 574, 659 of 2021 dismissed on 24.12.2021; prior Appeal No. 55 of 2019 dismissed on 25.03.2021
• Large-scale manipulation in Partani Appliances Ltd by connected entities selling miniscule quantities above LTP to raise price despite large pending buy orders.
  All four appeals dismissed with no order as to costs · AO penalty of Rs.5 lakh each upheld as appropriate minimum
  Appeal: Appeal Nos. 426, 574, 573 and 659 of 2021 dismissed on 24.12.2021