2014 (4) TMI 1212

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....delwal, Advocate with Ms. Deepika Motagi, Advocate For The Respondent : Mr. Shiraz Rustomjee, Senior Advocate with Mr. Mihir Mody, Advocate Per : Jog Singh (Oral) The present appeal is directed against the impugned order dated January 31, 2013 passed by the respondent by which the appellant is held to be guilty of violating the provisions of Regulations 3(b), 3(c), 3(d), 4(1), 4(2)(d), 4(....

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....3(4) read with Regulation 13(5) of PIT Regulations. 2. The allegations against the appellant were mainly that he made misleading corporate announcement in March 2005 regarding preferential / rights issue with a view to lure investors. According to SEBI, it led to creation of artificial volumes. The next allegation was that he had made off-market transfers to various entities and had also receiv....

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....ty of his alleged signature on the transfer deed. This factual analysis may also require additional evidence. It would be, therefore, appropriate to remand this matter to the learned adjudicating officer for fresh hearing and adjudication. 4. Therefore, in the facts and circumstances of the case, keeping all the contentions of the parties open and with their consent, the impugned order dated Ja....