Vipul Virendra Kumar Patel

SAT-appeal

• Creating artificial volumes and a misleading appearance in the securities market through matched trades, reversal trades and self trades in the Oregon Commercial Ltd. scrip.
  Appeals allowed on the ground of inordinate delay in issuing the show-cause notice · Common AO order dated 16 November 2018 imposing penalties was set aside
  Appeal: Appeal Nos. 169, 171, 172, 231, 264, 266, 277, 278, 279, 280 and 281 of 2019 decided by SAT on 31 January 2020
• SAT matter SATV-33B9BF4F01E1074C4D8AA0F2
  Impugned SEBI Adjudicating Officer order dated 16 November 2018 quashed · SEBI granted liberty to issue a fresh show-cause notice
  Appeal: Appeal Nos. 123, 170, 174, 185, 186, 189, 190, 191 and 192 of 2019 disposed on 7 November 2019; impugned order quashed
• Alleged violation in scrip of Parichay Investments Limited adjudicated by AO; specifics not discussed as order set aside on concession.
  Impugned Adjudicating Officer order dated 16.11.2018 quashed without going into merits · Liberty granted to SEBI to issue fresh show cause notice if so desired
  Appeal: Appeal Nos. 123, 170, 174, 185, 186, 189, 190, 191, 192 of 2019 disposed of on 07.11.2019 by quashing impugned order on SEBI concession
• Proceedings relating to scrip of Parichay Investments Limited; specific charge not detailed in SAT remand order
  Impugned AO order dated 16.11.2018 quashed without going into merits · SEBI given liberty to issue fresh show cause notice if so desired
  Appeal: Appeal Nos. 123,170,174,185,186,189,190,191,192 of 2019 disposed on 07.11.2019 by consent remand
• Alleged violation in scrip of Parichay Investments Limited; merits not examined
  Impugned AO order dated 16.11.2018 quashed without going into merits · Liberty granted to SEBI to issue fresh show cause notice if so desired
  Appeal: Appeal Nos. 123, 170, 174, 185, 186, 189, 190, 191 and 192 of 2019 disposed on 07.11.2019 by quashing impugned order
• Matter concerns scrip of Parichay Investments Limited; specific charges not examined as order was quashed without going into merits
  Quashed impugned Adjudicating Officer order dated 16.11.2018 without going into merits · Granted liberty to SEBI to issue fresh show cause notice if so desired
  Appeal: Appeal Nos. 123, 170, 174, 185, 186, 189, 190, 191 and 192 of 2019 disposed on 07.11.2019; impugned order quashed on SEBI concession
• Matter relates to dealings in scrip of Parichay Investments Limited; specific charges not detailed in SAT remand order
  Impugned Adjudicating Officer order dated 16.11.2018 quashed without going into merits · Liberty granted to SEBI to issue fresh show cause notice if so desired
  Appeal: Appeal Nos. 123, 170, 174, 185, 186, 189, 190, 191, 192 of 2019 disposed on 07.11.2019 by consent remand
• Creating artificial volumes and a misleading appearance in the securities market through matched trades, reversal trades and self trades in the Oregon Commercial Ltd. scrip.
  Common AO order dated 16 November 2018 challenged; appeals were being decided together. · SAT found a seven-year delay in issuing the show cause notice and criticized SEBI's explanation as patently farcical and an afterthought.
  Appeal: Appeal Nos. 169, 171, 172, 231, 264, 266, 277, 278, 279, 280 and 281 of 2019; order dated 31 January 2020; final disposal outcome is not included in the provided excerpt.
• Creating artificial volumes and misleading appearance in Oregon Commercial Ltd scrip through matched, reversal and self trades among connected entities.
  Group appeals allowed; common AO order dated November 16, 2018 set aside on ground of inordinate 7-year delay in SCN
  Appeal: Appeal Nos. 169,171,172,231,264,266,277,278,279,280,281 of 2019 reserved 23.01.2020 decided 31.01.2020 - allowed due to delay
• Proceedings relating to trading in scrip of Parichay Investments Limited; specific charge not detailed in remand order
  Impugned Adjudicating Officer order dated 16.11.2018 quashed without going into merits · Liberty to SEBI to issue fresh show cause notice if so desired
  Appeal: Appeal Nos. 123,170,174,185,186,189,190,191,192 of 2019 disposed on 07.11.2019 by consent quashing and remand
• Creating artificial volumes and misleading appearance in Oregon Commercial Ltd scrip through matched, reversal and self trades among connected entities.
  Appeal: Appeal Nos. 169, 171, 172, 231, 264, 266, 277, 278, 279, 280, 281 of 2019 before SAT; Order Reserved on 23.01.2020, Date of Decision 31.01.2020
• Alleged violation in scrip of Parichay Investments Limited leading to AO order dated 16.11.2018; merits not discussed due to remand
  Impugned AO order dated November 16, 2018 quashed without going into merits · Liberty to SEBI to issue fresh show cause notice if so desired
  Appeal: Appeal Nos. 123, 170, 174, 185, 186, 189, 190, 191, 192 of 2019 disposed on 07.11.2019 - impugned order quashed and remanded for fresh SCN
• Creating artificial volumes and misleading appearance in Oregon Commercial Ltd scrip through matched, reversal and self trades.
• Creating artificial volumes and misleading appearance in Oregon Commercial Ltd scrip through matched, reversal and self trades in violation of PFUTP norms.
  Common AO order dated 16.11.2018 under challenge; Tribunal held 7-year delay vitiates penalties and set aside/quashed AO penalties
  Appeal: Appeal Nos. 169,171,172,231,264,266,277,278,279,280,281 of 2019 reserved 23.01.2020 decided 31.01.2020 by common order
• Created artificial volumes and misleading appearance in Oregon Commercial Ltd scrip by trading among themselves through matched, reversal and self trades.
  Group appeals challenge AO common order dated November 16, 2018; Tribunal examines 7-year delay in SCN (operative part truncated in excerpt)
  Appeal: Appeal Nos. 169,171,172,231,264,266,277,278,279,280,281 of 2019, Order Reserved 23.01.2020, Date of Decision 31.01.2020
• Alleged violation in scrip of Parichay Investments Limited; merits not examined
  Impugned AO order dated 16.11.2018 quashed without going into merits · Liberty to SEBI to issue fresh show cause notice if so desired
  Appeal: Appeal Nos. 123, 170, 174, 185, 186, 189, 190, 191, 192 of 2019 disposed on 07.11.2019 by consent quashing
• Creating artificial volumes and misleading appearance in Oregon Commercial Ltd scrip via matched, reversal and self trades.
  Appeal: Group Appeals 169,171,172,231,264,266,277-281 of 2019 reserved 23.01.2020 decided 31.01.2020 challenging AO order
• Alleged creation of artificial volumes and misleading appearance in Oregon Commercial Ltd scrip via matched, reversal and self trades.
  Common AO order dated November 16, 2018 set aside and penalties quashed on ground of inordinate delay
  Appeal: Appeal Nos. 169, 171, 172, 231, 264, 266, 277, 278, 279, 280, 281 of 2019 reserved on 23.01.2020, decided on 31.01.2020
• Created artificial volumes and misleading appearance in Oregon Commercial Ltd scrip by trading among themselves through matched, reversal and self trades.
  Appeals allowed and AO common order dated November 16, 2018 set aside on ground of inordinate unexplained delay
• Creating artificial volumes and misleading appearance in Oregon Commercial Ltd scrip through matched, reversal and self trades in violation of PFUTP norms.
  Appeal: Appeal Nos. 169, 171, 172, 231, 264, 266, 277, 278, 279, 280, 281 of 2019 against AO order; reserved 23.01.2020, decided 31.01.2020
• Adjudication matter concerning dealings in scrip of Parichay Investments Limited; merits/charge details not examined by SAT
  Impugned Adjudicating Officer order dated 16.11.2018 quashed without going into merits · Liberty to SEBI to issue fresh show cause notice if so desired
  Appeal: Appeal Nos. 123, 170, 174, 185, 186, 189, 190, 191, 192 of 2019 disposed of on 07.11.2019 by quashing impugned order with liberty for fresh SCN