SEBI Adjudicating Officer disposes of proceedings against Shri Shreedhar Yellaiah Kodam, finding no violation of PFUTP regulations in the Well Pack Papers case.
The Noticee successfully argued his identity was misused by Paras Chaplot, with his trading volume constituting only 0.01-0.03% of market volume during the investigation period.
The order notes no KYC connections or fund movements with other alleged group members and finds insufficient evidence of fraudulent intent or manipulative scheme participation.
Original 2015 penalty order of ₹5 lakh was set aside by SAT in 2026, leading to this fresh adjudication which ultimately exonerates the Noticee.