sebi:JJ/AM/AO-6-11/2013
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Facts / Headnote
Noticees found liable for contravention of Section 12A(a), (b), (c) of the SEBI Act, 1992 read with Regulations 3(a), (b), (c), (d) and 4(1), 4(2)(a), (e) and (g) of the PFUTP Regulations; liable for monetary penalty under Section 15HA of the SEBI Act, 1992
Provisions invoked
- s. 12A
- s. 15H
- s. 15I
- s. 15J
- s. 15
Regulations
- Reg. 4
- Reg. 3
- Reg. 3(a)
Parties
- Pardeep Aggarwal
- Jag Par Securities Ltd.
- Abhi Capital Services Ltd.
- Nisha Aggarwal
- Neelam Mehra
- Ashish Mehra
Holding
Pardeep Aggarwal, Jag Par Securities Ltd. and Abhi Capital Services Ltd. were held to have violated Section 12A(a), (b), (c) of the SEBI Act, 1992 read with Regulation 3(a), (b), (c), (d) and 4(1), 4(2)(a), (e) and (g) of the PFUTP Regulations. Nisha Aggarwal, Neelam Mehra and Ashish Mehra were held to have violated Section 12A(a), (b), (c) of the SEBI Act, 1992 read with Regulation 3(a), (b), (c), (d) and 4(1), 4(2)(a) and (e) of the PFUTP Regulations, and all Noticees were found liable for monetary penalty under Section 15HA.
Full text
Adjudication Order in respect of Pardeep Aggarwal, Jag Par Securities Ltd., Abhi Capital Services Ltd., Nisha Aggarwal, Neelam Mehra & Ashish Mehra in the matter of Priyadarshini Spinning Mills Ltd. Page 2 of 41 December 31, 2013 observed that the price of the scrip increased from Rs. 7.76 to Rs. 57.10 in three patches during the investigation period.
Adjudication Order in respect of Pardeep Aggarwal, Jag Par Securities Ltd., Abhi Capital Services Ltd., Nisha Aggarwal, Neelam Mehra & Ashish Mehra in the matter of Priyadarshini Spinning Mills Ltd. Page 3 of 41 December 31, 2013
Adjudication Order in respect of Pardeep Aggarwal, Jag Par Securities Ltd., Abhi Capital Services Ltd., Nisha Aggarwal, Neelam Mehra & Ashish Mehra in the matter of Priyadarshini Spinning Mills Ltd. Page 4 of 41 December 31, 2013 the Company during the quarter ended December 2009 which increased to 6.30% during the quarter ended March 2010 and later decreased to 5.29% during the quarter ended June 2010. The relationship and connection between Pardeep, Nisha, Jag Par, Abhi Capital, Neelam, Ashish (hereinafter collectively referred to as “Noticees/Group”) are as follows: Name Basis of connection Pardeep Pardeep and Nisha are directors of Jag Par and have common address viz. 308, Syndicate House 3, Old Rohtak Road, Inderlok, Delhi - 110035. Jag Par Nisha Abhi Capital Abhi Capital, Ashish & Neelam had entered into off market transactions with Pardeep. Also, Neelam & Ashish are directors of Abhi Capital. Neelam Ashish
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Source: SecMarx — sebi:JJ/AM/AO-6-11/2013. 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.