SEBI finds issues in derivative trading claims; Petitioner must deposit 50% of disputed tax, not 20%.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Stay of demand - SEBI had noticed several disturbing features in Petitioner's activity of buying and selling derivatives - the loss as claimed by the Petitioner for set off, is not genuine - Petitioner can not avoid recovery of tax by offering to pay a mere 20% of the disputed amount - directed to deposit 50% disputed tax....