sebi:190-210_200
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Facts / Headnote
Ad-interim ex-parte order dated January 24, 2006 against M/s Jupiter Securities and Properties Pvt. Ltd. (JSPPL) vacated
Provisions invoked
- s. 11B
- s. 11
- s. 11(4)
- s. 19
- s. 12
Regulations
- Reg. 4
- Reg. 7
- Reg. 13(4)
- Reg. 11
- Reg. 3
- Reg. 13(2)
- Reg. 4(a)
- Reg. 5
- Reg. 6
- Reg. 4(b)
- Reg. 199
- Reg. 6(1)
- Reg. 13(1)
Parties
- Prashant J Patel
Holding
The ad-interim ex-parte order dated January 24, 2006 restraining M/s Jupiter Securities and Properties Pvt. Ltd. from buying, selling or dealing in securities of MCL was vacated, as JSPPL had demonstrated it disposed of its entire MCL shareholding prior to January 06, 2004.
Full text
Dec 07, 2006 | Orders : Orders of Chairman/Members BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA CORAM : V. K CHOPRA, WHOLE TIME MEMBER Against Prashant J Patel in the matter of M/s. Ranbaxy Laboratories Ltd.
through off market to the aforesaid three entities namely M/s Avinash Finlease Private Limited, M/s Mutual Impex Pvt. Ltd. and M/s Fast Track Securities Pvt. Ltd. consideration thereof was received through regular banking channel. However, no agreement was entered between buyers and sellers. 3.3 In order to prove the said submission, they have also provided copies of the balance sheet of the company JSPPL as on March 31, 2004 along with its written submission file date of hearing. They also stated that the said balance sheet had already been filed to the Registrar of Companies in Madhya Pradesh and Income Tax Office at Indore date in the year 2004 itself. I have examined the copy of the said balance sheet and find that the same shows nil balance in respect of the shares of MCL. 3.4 The representative of JSPPL also submitted that they have submitted a letter dated October 09, 2006 enclosing the documents to prove that they had disposed of the entire s MCL during the financial year 2003-2004. I have pursued the said letter and find that it had provided the following documents along with the said letter. · Letter dated October 04, 2006 of Oriental Bank of Commerce showing the receipt of payment of Rs 19,31,000/- from December 15, 2002 to December 15, 2003. · Debit note dated December 15, 2002 by JSPPL on Avinash Finlease Private Ltd with respect to 1,68,900 shares of MCL for Rs 5,00,000/-. · Letter dated October 03, 2006 to M/s Sharex Dynamic India Pvt. Lt
Trade Dt Trd Sett No Trd Time Trade No Trd Pr Trd Qty Buy V. K. CHOPRA December 05, 2006 WHOLE TIME MEMBER SECURITIES AND EXCHANGE BOARD OF INDIA
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Source: SecMarx — sebi:190-210_200. 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.