sebi:MO/63/IVD/08/04
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Prohibited from associating with any corporate body in accessing the capital market and from buying, selling or dealing in securities for 1 year
Provisions invoked
- s. 11B
Regulations
- Reg. 11
- Reg. 4
- Reg. 4(b)
- Reg. 1
Parties
- M/s 20th Century Engineering Limited
Holding
M/s 20th Century Engineering Limited was held guilty of violating Regulation 4(b) of the FUTP Regulations, 1995 for non-genuine transactions in SPML. It was prohibited from associating with any corporate body in accessing the capital market and from buying, selling or dealing in securities, directly or indirectly, for a period of 1 year.
Full text
Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ BACKGROUND 1. M/s 20 Century Engineering Limited (hereinafter referred to as “20 Century”) is: i. An associate of M/s. Subhash Projects & Marketing Limited (hereinafter referred to as “SPML”), a company whose shares are listed The National Stock Exchange of India Ltd. (hereinafter referred to as “NSE”). ii. one of the promoters of M/s Neon Vinimay Pvt. Limited, a trading member on the capital market segment of NSE. iii. An associate of M/s SPML India Ltd.
on the ground that it had not been issued by the Board as per the provisions of the Act. 20 Century also sought the inspection of the origi all the documents on the basis of which the show cause notice was issued, and requested that the proceedings against them be dropped.
(d) …… (e) …… 24. It is to be noted that persons who operate in the market are required to maintain high standards of integrity, promptitude and fairness in the con the business dealings. People, who indulge in manipulative, fraudulent and deceptive transactions, or abet the carrying out of such transa which are fraudulent and deceptive, are not fit or proper persons to operate in the market.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:MO/63/IVD/08/04. 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.