sebi:MO/132/IVD/01/05
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Facts / Headnote
Order upholding the earlier findings of market manipulation; company's request to withdraw the restriction imposed by order dated October 21, 2003 rejected as no new/material information was submitted.
Provisions invoked
- s. 11
- s. 19
- s. 11(3)
- s. 11D
Regulations
- Reg. 11
- Reg. 4
- Reg. 4(a)
- Reg. 26
Parties
- Alfavision Overseas (India) Limited
Holding
The company failed to submit any new or material information during the remand proceedings that could warrant a view different from the one already taken by SEBI in its earlier order dated October 21, 2003, and the restriction imposed thereby stands.
Full text
concerned were acting on this belief, the representatives of the company were advised during the personal hearing, to show the records that this fact of not joining by Shri Garg was communicated to depositories and other concerned. After the conclusion of personal he representative of the company requested for time to file written submissions. When their attention was invited to the time limit in ter
10. Mr.Dinesh Sharma is a qualified Company Secretary and was employed as Company Secretary of the Company up to 7 November, 8 November, 2000 he resigned from the Company and traded in the shares of the Company.
the scrip of the company. SEBI also obtained the information from Intime Spectrum Registry Ltd to examine the issue of the dematerializ the company as well as from the Central Depository Services (I) Ltd and National Securities Depository Ltd (for brevity’s sake referred t ‘CDSL’ and ‘NSDL’ respectively). On perusal of the same, it was noted that the price of the scrip of the company which was put under com dematerialized trading for all investors with effect from October 30, 2000, started rising immediately thereafter.
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Source: SecMarx — sebi:MO/132/IVD/01/05. 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.