0029-2011 Jayesh P. Khandwala HUF and Another vs Securities and Exchange Board of India
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opened on July 15, 2005 and closed on July 22, 2005 and that the allotment of shares was made on August 5, 2005 at the rate of Rs.34 per share. Parties are also agreed that the shares of this IPO were listed on the stock exchanges on August 12, 2005 and that the closing price of the scrip on the first day of listing was Rs.69.55. The charge against the appellant is that he cornered shares in this IPO while acting in concert with Roopalben and Khandwala with whom he had a prior understanding and that he facilitated Khandwala to make ill-gotten gains by routing the funds and the shares
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
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