sebi:11221
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Facts / Headnote
GTFL prohibited from accessing the securities market and from buying, selling or dealing in securities directly or indirectly; its Directors restrained from associating with any corporate body in accessing the securities market and prohibited from buying, selling or dealing in securities directly or indirectly, for a period of five years, with immediate effect.
Provisions invoked
- s. 11B
- s. 11(4)
- s. 19
- s. 113
Regulations
- Reg. 11
- Reg. 3
- Reg. 13
- Reg. 4(a)
Parties
- M/s. Greenfield Trading and Finance Ltd.
- Mr. Amarjeet S. Chandok
- Mr. Harmohan S. Chandok
- Mr. Arun Pranjivandas Gandhi
Holding
GTFL and its Directors Mr. Amarjeet S. Chandok, Mr. Harmohan S. Chandok and Mr. Arun Pranjivandas Gandhi were found guilty of violating Regulation 4(a), (b), (c), (d) and (e) of the SEBI (PFUTP) Regulations, 1995, for creating an artificial market and disturbing market equilibrium in the GTFL scrip. Directions were issued prohibiting GTFL from accessing the securities market and restraining the Directors from associating with any corporate body in accessing the securities market and from dealing in securities for five years.
Full text
1. The shares of M/s Greenfield Trading and Finance Ltd. (hereinafter referred to as “GTFL”) were listed on The Stock Exchange, Mumbai. (hereinafter referred to a “BSE”). As per BSE, the capital of GTFL was Rs. 99.66 lacs, comprising 9.96 lac equity shares of Rs. 10 each.
period, did not reflect genuine investment buying, but appeared to be intended to manipulate the market and to make abnormal gains.
Pranjivandas Gandhi before me on 05.02.04. However, the said date of hearing was rescheduled for 16.02.04, at the behest of Mr. Amarjeet S. Chandok. Mr. Amarjeet S. Chandok failed to appear before me even on that day. Mr. Arun Pranjivandas Gandhi had appeared before me and reiterated the submissions he had made in his letter.
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Source: SecMarx — sebi:11221. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.