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Latest Cases Home > Latest Court: sebi securities and exchange board of india or securities appellate tribunal sat Page 6 of about 2,123 results (0.270 seconds)

Jan 31 2014 (TRI)

Smc Global Securities Ltd. Vs. Securities and Exchange Board of India, ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Jog Singh, Member The core issues in the present appeal are the form and the mode of collection of margin money by a Clearing Member (CM) as required from time to time from its Trading Members (TMs) and the manner of its reporting to the stock exchange. 2. The appellant, namely, SMC Global Securities Limited, hereinafter referred to as SMC, has preferred the present appeal against the impugned order dated August 02, 2013, passed by the respondents Whole Time Member, hereinafter referred to as WTM, under Section 19 of the SEBI Act, 1992, read with Regulations 28 (2) of the SEBI (Intermediaries) Regulations, 2008, prohibiting the appellant from taking up any new assignment or contract or launch a new scheme for a period of three months. 3. Briefly stated, the facts of the case are that SMC is a company incorporated under the Companies Act, 1956 and is stated to be registered with several Stock and Commodities Exchanges, including the NSE and the BSE, as a Trading Member, hereinafter refe...

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Jan 27 2014 (TRI)

Komal Nahata Vs. Securities and Exchange Board of India, Sebi Bhavan

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

J.P. Devadhar, Presiding Officer (Oral) 1. There is delay of 3 days in filing the appeal. By Miscellaneous Application, appellant seeks condonation of said delay. For reasons stated in the application, delay is condoned. Miscellaneous Application is disposed of accordingly. 2. Whether Adjudication Officer (œAO? for short) of Securities and Exchange Board of India (œSEBI? for short) is justified in imposing penalty of Rs.1 lac under Section 15A(b) of the Securities and Exchange Board of India Act, 1992, (œSEBI Act, 1992? for short) on the ground that appellant has violated regulation 7 (1) and regulation 7(2) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997 (œSAST Regulations, 1997? for short) and regulation 13(1) and regulation 13(3) read with regulation 13(5) of SEBI (Prohibition of Insider Trading) Regulations, 1992 (œPIT Regulations, 1992? for short) is the question raised in this appeal. 3. Appellant is a house wife. Appellant...

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Jan 24 2014 (TRI)

Mrs. Krupa Sanjay Soni Vs. Securities and Exchange Board of India Sebi ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Jog Singh, Member 1. The present appeal has been preferred by the two Appellants challenging the impugned order dated September 14, 2012 passed by the Respondent, imposing a penalty of Rs.30 lakh on each of them under section 15HA of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as the SEBI Act) for violation of Regulations 3(a), (b), (c) and (d); 4(1), 4(2)(a) and (g) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 (hereinafter referred to as PFUTP Regulations). 2. Briefly stated, the facts of the case are that the Respondent conducted an investigation in respect of the trading activity of Appellant no.1 along with Appellant no.2 and a few others in the scrip of Shree Global Tradefin Ltd., (for short œSGTL?) with a view to examine possible violation of the provisions of the SEBI Act and the PFUTP Regulations framed thereunder. 3. The investigation pointed out that the scrip had ope...

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Jan 22 2014 (TRI)

Subrata Roy Sahara and Others Verssus Securities and Exchange Board of ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

J.P. Devadhar, Presiding Officer (Oral) 1. Counsel for the parties state that pursuant to order passed by Apex Court on July 17, 2013 all these four appeals stand transferred to Apex Court, however, in the Minutes of Order dated August 12, 2013 it is recorded that these appeals are adjourned sine die. 2. Since all these appeals are no more pending before this Tribunal, we modify our order passed in these four appeals on August 12, 2013 to the effect that these four appeals shall be treated as disposed of and not pending before this Tribunal. 3. Accordingly, Registry is directed to remove these four appeals in the list of pending cases....

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Jan 22 2014 (TRI)

Jaypee Capital Services Ltd. Vs. Securities and Exchange Board of Indi ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

J.P. Devadhar, Presiding Officer (Oral) 1. This appeal is filed to challenge order of adjudicating officer dated October 17, 2013. Counsel for respondent fairly states that in view of fact that impugned order has been passed after three and half years of giving personal hearing to the appellant and further written submissions filed by the appellant in the adjudication proceedings have not been considered in the impugned order, it would be just and proper to remand the matter for fresh adjudication. 2. Accordingly, impugned order dated October 17, 2013 is quashed and set aside and the adjudicating officer is directed to pass fresh order on merits and in accordance with law after giving personal hearing to the appellant and after furnishing necessary documents to the appellant. 3. Appeal is disposed of in above terms with no order as to costs....

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Jan 21 2014 (TRI)

Alka India Limited Vs. Securities and Exchange Board of India, Sebi Bh ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

J.P. Devadhar, Presiding Officer (Oral) 1. This Appeal as also Miscellaneous Application No. 135 of 2013 seeking condonation of delay in filing the appeal, is filed to challenge order of the Whole Time Member of Securities and Exchange Board of India (SEBI for short) dated April 25, 2012. By that order, ad-interim ex-parte order dated September 21, 2011 has been modified and appellant is permitted to operate its demat account subject to conditions set out therein. 2. Although various grounds are set out in the Memorandum of Appeal/Miscellaneous Application, fact remains that impugned order has operated for more than 18 months. 3. Counsel for SEBI on instruction states that the investigation in the present case is nearing completion and that respondent would initiate adjudication proceedings and pass appropriate order thereon within a period of 4 months from today. 4. In these circumstances, without going into merits of the case and without interfering with the impugned order, we accept...

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Jan 17 2014 (TRI)

Dushyant N. Dalal Vs. Securities and Exchange Board of India Sebi Bhav ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

J.P. Devadhar, Presiding Officer (Oral) 1. This appeal is basically filed to challenge SEBIs order dated October 29, 2013 whereby various bank accounts of appellants have been attached to recover amounts due under disgorgement order dated July 21, 2009. By disgorgement order dated July 21, 2009, appellants were called upon to disgorge unlawful gain of Rs.4.05 crore with simple interest thereon at the rate of 12% for four years (2005-2009) on unlawful gains amounting to Rs.1.95 crore within 45 days from July 21, 2009. 2. Admittedly, appeal filed by appellants against above disgorgement order has been dismissed by this Tribunal on November 12, 2010. Further appeal filed by appellants is admittedly dismissed by Apex Court on February 21, 2011 and even Review application filed by appellants before Apex Court has also been dismissed on August 24, 2011. 3. Since appellants have failed to comply with disgorgement order even after the said order attained finality, SEBI on October 29, 2013 has ...

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Jan 15 2014 (TRI)

M/S. Octant Industries Ltd. Vs. Securities and Exchange Board of India ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Jog Singh, Member 1. Challenge in this appeal is to the order dated September 28, 2012 passed by the Adjudicating Officer imposing a monetary penalty of Rs.40,00,000/- (Rupees Forty Lakhs Only) on M/s. Octant Industries Ltd (referred to hereinafter as the Appellant). Pursuant to the amalgamation scheme of M/s. Kushal Software Ltd. presently known as Octant Industries Ltd. with M/s. Axon Infotech Limited (Axon), Bombay Stock Exchange (BSE) suo moto conducted an investigation in the scrip of Axon during the period 17th March, 2006 to 19th September, 2006 for the alleged violation of Regulations 4(1) and 4(2)(e) of the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 (PFUTP Regulations, 2003 for short). Investigation revealed that the Appellant which was proposing to get amalgamated with Axon, along with its various connected entities had dealt in the scrip of Axon and had contributed to the price...

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Jan 15 2014 (TRI)

Giriraj Kishore Agarwal and Others Vs. Securities and Exchange Board o ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Jog Singh, Member 1. The present appeal is preferred by three appellants namely, Mr. Giriraj Kishor Agarwal; (Appellant No. 1), Golden Steel Industries Pvt. Ltd. (formerly known as Shreeji Herbal Ltd.); (Appellant No. 2), Handful Investrade Private Limited; (Appellant No. 3) against the impugned order dated February 4, 2013 passed by the respondent imposing penalty of Rs.12,57,500 on each of the appellants under section 15H(ii) of Securities and Exchange Board of India Act, 1992 for violation of the provisions of regulation 10 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (Takeover Regulations). 2. Briefly stated the facts of the case are that the respondent conducted investigation into certain dealings in the scrip of M/s. Axon InfoTech Ltd. (AIL/Target Company) for the period between March 17, 2006 to September 19, 2006. During the investigation it was revealed that some eight entities acting in concert with each other had acquired 32.02% shares/voti...

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Jan 15 2014 (TRI)

Ambaji Papers Pvt. Ltd. and Others Vs. the Adjudicating Officer Securi ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Jog Singh, Member In this bunch of five appeals, the appellants have challenged the same impugned order dated September 30, 2013 by which each of the appellants is imposed a monetary penalty of Rs.5 lac for the alleged violations of the provisions of Regulations 7(1) and 7(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 read with Regulation 35(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 as well as Regulations 13(1), 13(3) and 13(5) of SEBI (Prohibition of Insider Trading) Regulations, 1992. 2. With the consent of both learned counsel for the parties, all the five appeals are being heard together and are being disposed of by this common order. However, for factual purposes, Appeal no. 201 of 2013 is treated as the leading case. 3. The common allegation in all the cases against the appellants levelled by the respondent was that they marginally crossed the limit prescribed by the regulations in respect of their shareholding...

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