sebi:HB/AO-03/2010
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Facts / Headnote
Alleged violations of Regulations 3(a), 4(1), 4(2)(a) and 4(2)(e) of PFUTP Regulations by Mahendra Brahmabhatt and Dipak C. Shah not established; matter disposed of.
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 3
- Reg. 3(a)
Parties
- Mahendra Brahmabhatt
- Dipak C. Shah
Holding
The alleged violations of Regulations 3(a), 4(1), 4(2)(a) and 4(2)(e) of the PFUTP Regulations by Mahendra Brahmabhatt and Dipak C. Shah, as specified in the Show Cause Notice, do not stand established and the matter is disposed of.
Full text
Page 2 of 11 expansion plans, acquisition and any other related matter for growth of the company and to consider the increase in authorized capital and issue of right/preferential shares. Volume increased from average daily trading volume of 3685 shares to average daily trading volume of 22606 shares for remaining investigation period. 2 11.03.2005 at 04:31PM The Board meeting which was scheduled to be held on March 08, 2005 has been postponed as the directors of the company have gone out of station. The price came down from closing price Rs.113.96 on March 11, 2005 to Rs.110.75 on next trading day. There was negligible effect on the volume.
Page 3 of 11 respectively and collectively referred to as “Noticees”) were the counter party buyer for the sell trades of the Agarwal Family during the investigation period. From the available records it is observed that the MB and DCS had transferred a total of 18000 shares of EIL to Nilesh Kothari by off market transfers between March 12, 2005 and March 15,
Page 4 of 11 of the Rules to show cause as to why an inquiry should not be initiated against him and penalty be not imposed under section 15HA and of SEBI Act for the alleged violations specified in the SCN. The aforesaid SCN was returned citing reason as “unclaimed/refused”. Thereafter vide letter dated December 08, 2009, a copy of the SCN was sent to SEBI’s Ahmedabad Regional Office (ARO), to be delivered to MB. Vide letter dated January 08, 2010 ARO intimated that the SCN was delivered to MB.
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Source: SecMarx — sebi:HB/AO-03/2010. 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.