sebi:IVD/KIL/AO/DRK/AS/EAD-3/226/2009-129/2010
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Facts / Headnote
Violation not established; adjudication proceedings disposed of without penalty
Provisions invoked
- s. 15
- s. 15H
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- Kosian Securities Pvt. Ltd.
Holding
The violation of Regulation 3(a) and 4(2)(r) of the PFUTP Regulations by Kosian Securities Pvt. Ltd. in relation to its dealings in KIL was not established, and no penalty was warranted under Section 15HA of the SEBI Act, 1992.
Full text
Page 2 of 14 4 Equity Capital 300.03 300.30 300.30 300.30 300.30 300.30 300.30 5 EPS 0.03 0.60 1.92 0.57 0.35 0.34 -0.35
Page 3 of 14 6. It was noted from the Investigation Report that during the investigation period the price of the scrip increased from ` 26.95 on March 01, 2005 and reached a high of ` 42.85 on September 14, 2005 and finally closed at ` 25.95 on March 31, 2006. It was noted from the findings of the Investigation Report that on March 04, 2005 KIL had informed Bombay Stock Exchange Limited (hereinafter referred to as ‘BSE’) that the meeting of the Board of Directors of the Company is scheduled to be held on March 11, 2005, wherein they will consider various ways and means for expansion of the company, various plans for the acquisition and any other related matter for the growth of the company, issue of rights / preferential allotment and or any other instruments of the company and increase the authorized share capital of the company. As a result of these announcements, the price of the scrip started moving upward
Page 4 of 14 June 15, 2005 to March 01, 2006, several follow up announcements were made by KIL to BSE with respect to the proposed acquisition of ISPL.
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Source: SecMarx — sebi:IVD/KIL/AO/DRK/AS/EAD-3/226/2009-129/2010. 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.