Shri Bhavesh R Thakkar
Penalties and directions recorded
- Disgorge Rs.77,23,637.07 with interest by Appellant 1-3 per WTM order
- Penalty of Rs.40 lakh jointly and severally per AO order
- WTM directions included disgorgement of Rs. 77,23,637.07 with interest.
- AO penalty of Rs. 40 lakh was imposed jointly and severally for PIT Regulations violations.
SAT-appeal
- Insider trading in ADF Foods Ltd during UPSI on proposed buy-back and proposed range Rs.10-15 crore communicated and funded by director Bhavesh Thakkar to family traders.Disgorge Rs.77,23,637.07 with interest by Appellant 1-3 per WTM order · Restrain Appellant 1-3 from securities market 6 months; ADF Foods securities 1 year
- Insider trading based on unpublished information concerning ADF Foods Limited’s proposed buy-back and proposed buy-back range; alleged communication of UPSI and provision of trading funds through a family member.Appeals against the WTM order dated 30 March 2021 and AO order dated 23 June 2022 were considered together. · WTM directions included disgorgement of Rs. 77,23,637.07 with interest.Appeal: Appeal Nos. 606 of 2021 and 520 of 2022; decision dated 6 February 2023; outcome not stated in the provided text.
Source: SecMarx — Shri Bhavesh R Thakkar. 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.