Symphony Merchants Pvt. Ltd.

SAT-appeal

• Alleged fraudulent and manipulative trading, including price manipulation, self-trades, synchronized/inter-se trades and trades intended to influence closing prices and profit from call options.
  Delay of 85 days in Appeal No. 441 of 2015 condoned. · Appeals 418, 396 and 441 of 2015 challenged the same AO order dated April 24, 2015; the excerpt does not state the final disposal of the appeals.
  Appeal: Appeal Nos. 418, 396 and 441 of 2015; decision dated July 12, 2019. The excerpt does not include the operative final disposal of the appeals.
• Alleged fraudulent and unfair trade practices through coordinated, manipulative cash-market trades, self-trades and price manipulation in four scrips, followed by derivative-position profits.
  Appeals Nos. 418, 396 and 441 of 2015 challenged the AO order dated April 24, 2015 imposing penalties on 14 entities. · Delay of 85 days in Appeal No. 441 of 2015 was condoned.
  Appeal: Appeal Nos. 418, 396 and 441 of 2015 before SAT; decision dated July 12, 2019. Misc. Application No. 312 of 2015 for 85-day delay in Appeal No. 441 was allowed.
• Alleged marking-the-close manipulation in last minutes on option expiry days to inflate closing price and profit on call options via self, synchronized and inter-se trades.
  Impugned AO order directed 14 entities to pay varying penalties; SAT final disposal not in excerpt
  Appeal: Appeal Nos. 418, 396, 441 of 2015 with Misc. Application 312/2015 against AO order 24 Apr 2015; reserved Apr 2019, decided 12 July 2019; 85-day delay in 441 condoned