sebi:AO/SBM/EAD-1/329/2018
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Facts / Headnote
Penalty of Rs 5,00,000 imposed on the Noticee
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15J
- s. 11C(6)
- s. 12
- s. 11C
- s. 11C(2)
- s. 11C(3)
Parties
- Ranisati Dealer Private Limited
Holding
The Noticee violated sections 11C(2) and 11C(3) of the SEBI Act by failing to furnish information/documents sought vide summons dated July 02, 2014 and is liable to monetary penalty of Rs 5,00,000 under section 15A(a) of the SEBI Act.
Full text
Page 2 of 20 associate/connected entities of the Merchant Banker associated with the IPO of RKDL viz. Comfort Securities Limited (hereinafter referred to as ‘CSL’). It was also observed during the course of investigation that CIL, which has been referred in the aforementioned news article is a group/associate company of CSL.
Page 3 of 20 iii. Further, the Noticee, on December 04, 2010, transferred Rs. 15 Lakhs to the account of Suvidha Securities Pvt. Ltd. (Suvidha) which had applied in the IPO of RKDL and had also traded heavily in the scrip of RKDL on the day of its listing i.e. December 27, 2010. iv. CIL, on receipt of Rs. 6.40 crore from the account of the Noticee, transferred Rs. 2 Crore to the Noticee on December 04, 2010. On the same day i.e. December 04, 2010, the Noticee transferred the said amount of Rs. 2 Crore to the account of BLC. v. The Noticee received Rs. 2.35 crore from the account of CIL on December 13, 2010. Noticee further received Rs 2.15 crore from CSL as payout, out of which Rs 1.79 crore was from (net) sale of 2,25,539 shares of RPP Infraprojects Ltd allotted to the Noticee in IPO of RPP Infraprojects Ltd. Thereafter, Noticee transferred Rs 3.75 crore to BLC and Rs 1.045 crore to Suvidha on the same day, i.e., Dec 13, 2010. vi. It is further observed that CIL transferred Rs. 2 crore to the account of the Noticee on December 23, 2010. On the same day i.e. December 23, 2010, the Noticee transferred the said amount of Rs. 2 crore to the account of BLC.
Page 4 of 20 5. A pictorial representation of the flow of funds from the account of RKDL to the persons/entities mentioned above is given as under : Transactions of the Noticee as mentioned in para 3 above
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Source: SecMarx — sebi:AO/SBM/EAD-1/329/2018. 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.