Vijay J. Thakkar

2 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Reduce Section 15HA penalty from Rs 16 lakh to Rs 5 lakh
Reduce Section 15HB penalty from Rs 6 lakh to Rs 3 lakh
Pay total penalty Rs 8 lakh within four weeks from 26 April 2019

SAT-appeal

Circular/synchronized trading in SKS Logistics Ltd in connivance with clients creating artificial volume and misleading appearance of trading.
Uphold AO finding of manipulation on merits · Reduce Section 15HA penalty from Rs 16 lakh to Rs 5 lakh
Appeal: Appeal No. 282 of 2018 decided on 26.04.2019 - partially allowed, penalty reduced
Sub-broker executed synchronized/circular trades in scrip of SKS (Ship) Limited on behalf of clients with few brokers in violation of PFUTP and Brokers Regulations.
Impugned AO order dated 28.08.2014 set aside · Matter restored to AO file for passing fresh order on merits and in accordance with law
Appeal: Appeal No. 381 of 2014 decided on 09.02.2016 - allowed, impugned order set aside and remanded to AO

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Source: SecMarx — Vijay J. 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.