2025 (11) TMI 784

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....eera Swarup, Technical Member, And Dr. Dheeraj Bhatnagar, Technical Member For the Appellant: Mr. Kaustubh H. Giri, Advocate with Mr. Shardul A. Mhetre, Advocate For the Respondent: Mr. Manish Chhangani, Advocate with Mr. Sumit Yadav, Mr. Abhay Chauhan and Mr. Atul Agrawal, Advocates i/b The Law Point ORDER Per: Justice P. S. Dinesh Kumar, Presiding Officer (Oral) This appeal is dir....

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....sions. 4. Based on their assurance, appellant had invested money. The impugned order is passed on May 31, 2023. This appeal is presented on October 08, 2025. The allegation against the appellant is that he has indulged in reversal trading of illiquid stock options of following scrips: - It is submitted that appellant was not served with the show cause notice. The date of hearing was also not co....

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....15MAY 80.00CE 0.75 16000 0.05 16000 100 47.06 100 2.56 4. ANBK15MAY 80.00CE 1 12000 0.1 12000 100 24 100 0.8 5. Shri Manish Chhangani, learned advocate for SEBI submitted that the pleadings disclose that appellant's family had invested about Rs. 2.5 to 3 Crores. Appellant claims to have filed a complaint on January 30, 2017 before the BSE bu....

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....by us with regard to the counter party, Shri Manish submitted that a penalty of Rs. 5 lakhs has been imposed against the counter party vide order dated April 28, 2023. 7. It is not in dispute that pursuant to the impugned order the SEBI has recovered the penalty amount of Rs. 5 lakhs. 8. Keeping in view the fact that the appellant has indulged in mobilizing and investing Rs. 2.5 to 3 Crores ....