Author: Mayur Vinod Faria

This is Advocate Mayur Faria. I hope you found my information useful.

Cheque bounce cases in India: What you need to know

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A cheque bounce case in India is a legal proceeding against a person who has issued a cheque that has been dishonored by the bank due to insufficient funds in the account. Cheque bounce is a criminal offense under Section 138 of the Negotiable Instruments Act, 1881.

What to do if you receive a cheque bounce notice

If you receive a cheque bounce notice, the first thing you should do is to send a demand notice to the drawer (the person who issued the cheque) asking them to pay the amount of the cheque within 15 days. If the drawer fails to pay the amount within 15 days, you can file a complaint with the magistrate’s court.

What happens in a cheque bounce case

Once you have filed a complaint with the magistrate’s court, the court will issue a summons to the drawer. If the drawer appears in court and pleads guilty, the court can convict them and pass a sentence. If the drawer pleads not guilty, the court will hold a trial. If the drawer is found guilty, the court can punish them with imprisonment for up to two years, or a fine that can extend to twice the amount of the cheque, or both.

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Alpha G184 Owners Association vs M/S Magnum International Trading Company Pvt. Ltd.

The Supreme Court of India has held that the National Consumer Disputes Redressal Commission (NCDRC) erred in adjourning sine die the complaints filed by the Alpha G184 Owners Association against M/S Magnum International Trading Company Pvt. Ltd. The Court held that the pendency of a writ petition before the High Court of Punjab and Haryana challenging the registration of the Association under the Haryana Registration and Regulation of Societies Act, 2012, did not make the complaints not maintainable before the NCDRC.

The Association had filed the complaints alleging that the respondent had failed to construct and complete the promised flats within the timeline agreed upon, and had failed to pay compensation for the delay caused. The respondent had challenged the registration of the Association before the High Court, alleging that the Association’s aims and objectives were not in conformity with the HRRS Act. The High Court had stayed the proceedings before the NCDRC, but had not stayed the operation of the Association’s registration.

The Supreme Court held that the NCDRC had erred in adjourning the complaints sine die. The Court held that the pendency of the writ petition before the High Court did not make the complaints not maintainable before the NCDRC. The Court also held that the NCDRC could have proceeded with the complaints even if the Association’s registration was eventually cancelled.

The Supreme Court’s decision is a victory for the Association and for consumers in general. The decision sends a clear message that the NCDRC will not be deterred from hearing complaints against builders who have failed to deliver on their promises. The decision also reaffirms the importance of the Consumer Protection Act, 2019, in protecting the interests of consumers.

The Supreme Court’s decision is a welcome development for consumers in India. The decision will help to ensure that builders who fail to deliver on their promises are held accountable. The decision will also help to protect the interests of consumers and to promote consumerism in India.

Damayanti Jhunjhunwala Ordered to Pay Rs. 5 Lakh Fine and Cease and Desist from Illiquid Stock Options Trading

The Securities and Exchange Board of India (SEBI) recently imposed a fine of Rs. 5 lakh on Damayanti Jhunjhunwala for engaging in manipulative and deceptive trading in illiquid stock options. This case is a reminder of the risks associated with illiquid stock options and the importance of investors being aware of these risks before trading in these instruments.

Illiquid stock options are those that have low trading volume. This means that there are fewer buyers and sellers in the market, which can make it difficult to buy or sell these options at a fair price. Additionally, illiquid stock options are more susceptible to manipulation by unscrupulous traders.

In the Damayanti Jhunjhunwala case, SEBI found that the individual had engaged in a number of activities that were designed to create artificial volume and price movement in illiquid stock options. These activities included:

  • Reversing trades shortly after execution
  • Placing orders that were unlikely to be executed
  • Trading in illiquid stock options with the intent to manipulate prices

These activities created a false and misleading impression of market activity in illiquid stock options. This had the potential to mislead investors and affect the orderly functioning of the market.

SEBI’s action against Damayanti Jhunjhunwala is a reminder that the regulator is committed to protecting investors from fraudulent and manipulative trading practices. Investors should be aware of the risks associated with illiquid stock options and should only trade in these instruments with caution.

Here are some tips for investors who are considering trading in illiquid stock options:

  • Do your research. Before you trade in illiquid stock options, make sure you understand the risks involved.
  • Use a reputable broker. When you are trading in illiquid stock options, it is important to use a reputable broker who has experience in this area.
  • Be patient. Illiquid stock options can be volatile, so be patient and don’t expect to make a quick profit.

By following these tips, you can help protect yourself from the risks of trading in illiquid stock options.

SEBI Fines Chitrabai Vasantrao Nikam Rs. 1 Lakh for Illiquid Stock Options Trading

The Securities and Exchange Board of India (SEBI) has imposed a fine of Rs. 1 lakh on Chitrabai Vasantrao Nikam for engaging in manipulative and deceptive trading in illiquid stock options.

The order, dated May 16, 2023, found that Chitrabai Vasantrao Nikam had indulged in a number of activities that were designed to create artificial volume and price movement in illiquid stock options. These activities included:

  • Reversing trades shortly after execution
  • Placing orders that were unlikely to be executed
  • Trading in illiquid stock options with the intent to manipulate prices

SEBI found that these activities had created a false and misleading impression of market activity in illiquid stock options. This had the potential to mislead investors and affect the orderly functioning of the market.

As a result of these findings, SEBI has imposed a fine of Rs. 1 lakh on Chitrabai Vasantrao Nikam and ordered the individual to cease and desist from engaging in such manipulative and deceptive trading.

SEBI’s action against Chitrabai Vasantrao Nikam is a reminder that the regulator is committed to protecting investors from fraudulent and manipulative trading practices. Investors should be aware of the risks associated with illiquid stock options and should only trade in these instruments with caution.

Here are some additional details about the case:

  • SEBI’s investigation into Chitrabai Vasantrao Nikam’s trading activities was initiated in 2015.
  • The investigation found that Chitrabai Vasantrao Nikam had engaged in manipulative and deceptive trading in illiquid stock options for a period of over one year.
  • SEBI’s order against Chitrabai Vasantrao Nikam is the latest in a series of actions taken by the regulator to crack down on fraudulent and manipulative trading practices.
  • Investors should be aware of the risks associated with illiquid stock options and should only trade in these instruments with caution.

Unique Article

In addition to the headlines and article above, here is a unique article about the SEBI order against Chitrabai Vasantrao Nikam:

The Chitrabai Vasantrao Nikam Case: A Reminder of the Risks of Illiquid Stock Options

The Securities and Exchange Board of India (SEBI) recently imposed a fine of Rs. 1 lakh on Chitrabai Vasantrao Nikam for engaging in manipulative and deceptive trading in illiquid stock options. This case is a reminder of the risks associated with illiquid stock options and the importance of investors being aware of these risks before trading in these instruments.

Illiquid stock options are those that have low trading volume. This means that there are fewer buyers and sellers in the market, which can make it difficult to buy or sell these options at a fair price. Additionally, illiquid stock options are more susceptible to manipulation by unscrupulous traders.

In the Chitrabai Vasantrao Nikam case, SEBI found that the individual had engaged in a number of activities that were designed to create artificial volume and price movement in illiquid stock options. These activities included:

  • Reversing trades shortly after execution
  • Placing orders that were unlikely to be executed
  • Trading in illiquid stock options with the intent to manipulate prices

These activities created a false and misleading impression of market activity in illiquid stock options. This had the potential to mislead investors and affect the orderly functioning of the market.

SEBI’s action against Chitrabai Vasantrao Nikam is a reminder that the regulator is committed to protecting investors from fraudulent and manipulative trading practices. Investors should be aware of the risks associated with illiquid stock options and should only trade in these instruments with caution.

Here are some tips for investors who are considering trading in illiquid stock options:

  • Do your research. Before you trade in illiquid stock options, make sure you understand the risks involved.
  • Use a reputable broker. When you are trading in illiquid stock options, it is important to use a reputable broker who has experience in this area.
  • Be patient. Illiquid stock options can be volatile, so be patient and don’t expect to make a quick profit.

By following these tips, you can help protect yourself from the risks of trading in illiquid stock options.

SEBI Fines Chandra Lakshmi Safety Glass Rs. 5 Lakh for Illiquid Stock Options Trading

The Securities and Exchange Board of India (SEBI) has imposed a fine of Rs. 5 lakh on Chandra Lakshmi Safety Glass Limited for engaging in manipulative and deceptive trading in illiquid stock options.

The order, dated May 16, 2023, found that Chandra Lakshmi Safety Glass had indulged in a number of activities that were designed to create artificial volume and price movement in illiquid stock options. These activities included:

  • Reversing trades shortly after execution
  • Placing orders that were unlikely to be executed
  • Trading in illiquid stock options with the intent to manipulate prices

SEBI found that these activities had created a false and misleading impression of market activity in illiquid stock options. This had the potential to mislead investors and affect the orderly functioning of the market.

As a result of these findings, SEBI has imposed a fine of Rs. 5 lakh on Chandra Lakshmi Safety Glass and ordered the company to cease and desist from engaging in such manipulative and deceptive trading.

SEBI’s action against Chandra Lakshmi Safety Glass is a reminder that the regulator is committed to protecting investors from fraudulent and manipulative trading practices. Investors should be aware of the risks associated with illiquid stock options and should only trade in these instruments with caution.

Here are some additional details about the case:

  • SEBI’s investigation into Chandra Lakshmi Safety Glass’s trading activities was initiated in 2015.
  • The investigation found that Chandra Lakshmi Safety Glass had engaged in manipulative and deceptive trading in illiquid stock options for a period of over one year.
  • SEBI’s order against Chandra Lakshmi Safety Glass is the latest in a series of actions taken by the regulator to crack down on fraudulent and manipulative trading practices.
  • Investors should be aware of the risks associated with illiquid stock options and should only trade in these instruments with caution.

In addition to the headline and article above, here are some additional information about the risks of illiquid stock options:

  • Illiquid stock options are those that have low trading volume. This means that there are fewer buyers and sellers in the market, which can make it difficult to buy or sell these options at a fair price. Additionally, illiquid stock options are more susceptible to manipulation by unscrupulous traders.
  • Some of the risks associated with illiquid stock options include:
    • The risk of not being able to sell the options at a fair price
    • The risk of the options being manipulated by unscrupulous traders
    • The risk of losing money on the options

Investors should be aware of these risks before trading in illiquid stock options.

The Rolex Dealer Case: A Reminder of the Risks of Illiquid Stock Options

The Securities and Exchange Board of India (SEBI) recently imposed a fine of Rs. 10 lakh on Rolex Dealer Private Limited for engaging in manipulative and deceptive trading in illiquid stock options. This case is a reminder of the risks associated with illiquid stock options and the importance of investors being aware of these risks before trading in these instruments.

Illiquid stock options are those that have low trading volume. This means that there are fewer buyers and sellers in the market, which can make it difficult to buy or sell these options at a fair price. Additionally, illiquid stock options are more susceptible to manipulation by unscrupulous traders.

In the Rolex Dealer case, SEBI found that the company had engaged in a number of activities that were designed to create artificial volume and price movement in illiquid stock options. These activities included:

  • Reversing trades shortly after execution
  • Placing orders that were unlikely to be executed
  • Trading in illiquid stock options with the intent to manipulate prices

These activities created a false and misleading impression of market activity in illiquid stock options. This had the potential to mislead investors and affect the orderly functioning of the market.

SEBI’s action against Rolex Dealer is a reminder that the regulator is committed to protecting investors from fraudulent and manipulative trading practices. Investors should be aware of the risks associated with illiquid stock options and should only trade in these instruments with caution.

Here are some tips for investors who are considering trading in illiquid stock options:

  • Do your research. Before you trade in illiquid stock options, make sure you understand the risks involved.
  • Use a reputable broker. When you are trading in illiquid stock options, it is important to use a reputable broker who has experience in this area.
  • Be patient. Illiquid stock options can be volatile, so be patient and don’t expect to make a quick profit.

By following these tips, you can help protect yourself from the risks of trading in illiquid stock options.thumb_upthumb_downuploadGoogle itmore_vert

SEBI Fines Nemichand Kasturchand Jain Rs. 5 Lakh for Trading in Illiquid Stock Options

The Securities and Exchange Board of India (SEBI) has imposed a fine of Rs. 5 lakh on Nemichand Kasturchand Jain for engaging in manipulative and deceptive trading in illiquid stock options.

The order, dated May 16, 2023, found that Nemichand Kasturchand Jain had indulged in a number of activities that were designed to create artificial volume and price movement in illiquid stock options. These activities included:

  • Reversing trades shortly after execution
  • Placing orders that were unlikely to be executed
  • Trading in illiquid stock options with the intent to manipulate prices

SEBI found that these activities had created a false and misleading impression of market activity in illiquid stock options. This had the potential to mislead investors and affect the orderly functioning of the market.

As a result of these findings, SEBI has imposed a fine of Rs. 5 lakh on Nemichand Kasturchand Jain and ordered the individual to cease and desist from engaging in such manipulative and deceptive trading.

SEBI’s action against Nemichand Kasturchand Jain is a reminder that the regulator is committed to protecting investors from fraudulent and manipulative trading practices. Investors should be aware of the risks associated with illiquid stock options and should only trade in these instruments with caution.

Here are some additional details about the case:

  • SEBI’s investigation into Nemichand Kasturchand Jain’s trading activities was initiated in 2015.
  • The investigation found that Nemichand Kasturchand Jain had engaged in manipulative and deceptive trading in illiquid stock options for a period of over one year.
  • SEBI’s order against Nemichand Kasturchand Jain is the latest in a series of actions taken by the regulator to crack down on fraudulent and manipulative trading practices.
  • Investors should be aware of the risks associated with illiquid stock options and should only trade in these instruments with caution.

SEBI Fines Worldwealth Dealtrade Rs. 10 Lakh for Illiquid Stock Options Trading

The Securities and Exchange Board of India (SEBI) has imposed a fine of Rs. 10 lakh on Worldwealth Dealtrade Pvt. Ltd. for engaging in manipulative and deceptive trading in illiquid stock options.

The order, dated May 16, 2023, found that Worldwealth Dealtrade had indulged in a number of activities that were designed to create artificial volume and price movement in illiquid stock options. These activities included:

  • Reversing trades shortly after execution
  • Placing orders that were unlikely to be executed
  • Trading in illiquid stock options with the intent to manipulate prices

SEBI found that these activities had created a false and misleading impression of market activity in illiquid stock options. This had the potential to mislead investors and affect the orderly functioning of the market.

As a result of these findings, SEBI has imposed a fine of Rs. 10 lakh on Worldwealth Dealtrade and ordered the company to cease and desist from engaging in such manipulative and deceptive trading.

SEBI’s action against Worldwealth Dealtrade is a reminder that the regulator is committed to protecting investors from fraudulent and manipulative trading practices. Investors should be aware of the risks associated with illiquid stock options and should only trade in these instruments with caution.

Here are some additional details about the case:

  • SEBI’s investigation into Worldwealth Dealtrade’s trading activities was initiated in 2015.
  • The investigation found that Worldwealth Dealtrade had engaged in manipulative and deceptive trading in illiquid stock options for a period of over one year.
  • SEBI’s order against Worldwealth Dealtrade is the latest in a series of actions taken by the regulator to crack down on fraudulent and manipulative trading practices.
  • Investors should be aware of the risks associated with illiquid stock options and should only trade in these instruments with caution.