sebi:ID-2/VSL/AO/DRK-JP/EAD-3/380-46-389-55/2013
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Facts / Headnote
Alleged violations not established; matter disposed of; no penalty imposed
Provisions invoked
- s. 15
- s. 12
- s. 15H
Regulations
- Reg. 3
- Reg. 86(3)
- Reg. 99
- Reg. 86
- Reg. 28
Parties
- Vinodkumar Bajaj & Company HUF
- Bajaj Commodities Trading Pvt. Ltd.
- Ramniwas Bajaj & Company HUF
- Bajaj Consultants Pvt. Ltd.
- Bajaj Retail India Venture Pvt. Ltd.
- Rajkamal Ramniwas Bajaj
- Vinodkumar Ramniwas Bajaj
- Bajco Consultants Pvt. Ltd.
- Bajaj Shares and Stock Brokers Pvt. Ltd.
- Mr. Gopal Maskara
Holding
The alleged violations of section 12A(a), (b) & (c) of the SEBI Act and regulations 3(b) & (d), 4(1) and 4(2)(a) & (b) of the PFUTP Regulations do not stand established against the Noticees, and they are not liable to be punished under section 15HA of the SEBI Act.
Full text
Page 2 of 14 1,69,35,240 shares were received from the category of Non Institutional Investors (NIIs) which was 41% of the total bids and the bids for 2,38,87,440 shares were received from Retail Individual Investors (RIIs) which was 57% of the total bids. The oversubscription levels on closure of bids were 0.16 times for QIBs, 11.29 times for NIIs and 6.82 times for RIIs. Based on these figures, the oversubscription in the Issue was calculated at 4.16 times. However, after taking into consideration cheques returned, withdrawn and technical rejections, the oversubscription level fell to 1.28 times and the Issue price was fixed at ` 49/- per share.
Page 3 of 14 Show Cause Notice, Reply of Noticees and Hearing: 5. A common Show Cause Notice dated March 21, 2013 (herein after referred to as “SCN”) was issued to the Noticees under rule 4(1) of the Adjudication Rules to show cause as to why an inquiry be not held against them and penalty be not imposed under section 15 HA of the SEBI Act for the aforesaid violations of SEBI Act and PFUTP Regulations, alleged to have been committed by them.
Page 4 of 14 common address of the Noticees including a letter of Noticee No. 10 dated May 04, 2011 were also provided along with SCN.
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Source: SecMarx — sebi:ID-2/VSL/AO/DRK-JP/EAD-3/380-46-389-55/2013. 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.