Sumeet Menthol Pvt. Ltd.
Penalties and directions recorded
- Impugned WTM order: appellants and PK jointly and severally to disgorge Rs 4,69,40,232 with 12% simple interest p.a. from 12.03.2007
- Impugned WTM order: appellants restrained from accessing securities market and dealing in securities for 3 years
- Jointly and severally disgorge Rs 4,69,40,232 with 12% simple interest p.a. from 12.03.2007
- Restrained from accessing securities market and dealing in securities directly/indirectly for 3 years
SAT-appeal
- Alleged fraudulent price and volume manipulation in Sumeet Industries Ltd via misleading unimplemented price-sensitive announcements and connected-person trading to enable promoters to offload shares at inflated prices.Impugned WTM order: appellants and PK jointly and severally to disgorge Rs 4,69,40,232 with 12% simple interest p.a. from 12.03.2007 · Impugned WTM order: appellants restrained from accessing securities market and dealing in securities for 3 yearsAppeal: Appeal Nos. 225 of 2014 and 227 of 2014 against WTM order 21.05.2014; Reserved 23.06.2016, Decision date 30.06.2016; final disposal not in excerpt
- Promoters allegedly inflated Sumeet Industries Ltd price via unimplemented price-sensitive announcements and manipulative trades via Purshottam Khandelwal to offload holdings at profit.Jointly and severally disgorge Rs 4,69,40,232 with 12% simple interest p.a. from 12.03.2007 · Restrained from accessing securities market and dealing in securities directly/indirectly for 3 yearsAppeal: Appeal Nos. 225 and 227 of 2014 against WTM order dated 21.05.2014; reserved on 23.06.2016, date of decision 30.06.2016
Source: SecMarx — Sumeet Menthol Pvt. Ltd.. 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.