sebi:ORDER/PM/RR/2019-20/7325

SEBI · SEBI · 2017-06-30 · Prasanta Mahapatra, Adjudicating Officer

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Facts / Headnote

Adjudication proceedings disposed of without penalty; alleged violations held not established

Provisions invoked

• s. 15
• s. 12A
• s. 15H
• s. 15J

Regulations

• Reg. 3
• Reg. 3(a)

Parties

• Darshanna Bhavesh Pandya

Holding

The allegations against Darshanna Bhavesh Pandya of violating Section 12A(a), (b) and (c) of the SEBI Act and Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(e) of the PFUTP Regulations were held not established, and the adjudication proceedings initiated vide SCN dated June 30, 2017 were disposed of with no monetary penalty under Section 15HA.

Full text

Adjudication Order against Darshanna Bhavesh Pandya in the matter of Alexander Stamps and Coin Limited Page 2 | 14 Officer) Rules, 1995 (hereinafter referred to as ‘Adjudication Rules’) to inquire into and adjudge under the provisions of Sections 15HA of the SEBI Act for the alleged violation of Section 12A(a), (b) and (c) of the SEBI Act and Regulations 3(a), (b), (c) & (d), 4(1), 4(2) (e) of SEBI PFUTP Regulations, 2003 by the Noticee.

Adjudication Order against Darshanna Bhavesh Pandya in the matter of Alexander Stamps and Coin Limited Page 3 | 14 3 Pragnesh Rohit Pandya AMJPP42 38N  Entities number 1, 2 and 6 are Directors of the company and entity number 3 is CEO cum compliance officer of the company (Key managerial persons)  Entities number 3,4 and 5 are related based on common mobile number and Address  Entity number 5 named Vaishali Pragnesh Pandya is wife of entity number 3 Pragnesh Rohit Pandya (CEO)  Entity number 4 named Darshanna Bhavesh Pandya is sister in law of entity number 3 named Pragnesh Rohit Pandya (CEO). 4 Darshann a Bhavesh Pandya BTXPP19 36R  Entities number 3, 4, and 5 are related based on common mobile number and Address.  Entity number 4 named Darshanna Bhavesh Pandya is sister in law of entity number 3 named Pragnesh Rohit Pandya (CEO) 5 Vaishali Pragnesh Pandya AMTPP4 474G  Entities number 3, 4, and 5 are related based on common mobile number and Address.  Entity number 5 named Vaishali Pragnesh Pandya is wife of entity number 3 Pragnesh Rohit Pandya (CEO). 6 Narayan Acharya ADRPA15 47J  Entities number 1, 2 and 6 are Directors of the company and entity number 3 is CEO cum compliance officer of the company( Key managerial persons)  Entity number 6 has received shares from entity number 7 through off market  Entities number 6 and 8 are related based on common Phone number and Address.  Entities number 6 and 7 are related based on common Email id, mobile number and Addr

Adjudication Order against Darshanna Bhavesh Pandya in the matter of Alexander Stamps and Coin Limited Page 4 | 14 d) It was observed that, during September 1, 2014 to March 20, 2015 (Patch 1), the Noticee and 6 other suspected entities namely, Narayan Acharya, Semwal Govindram Dhanesh, Satish Korogappa Shetty, Pragnesh Rohit Pandya, Vaishali Pragnesh Pandya and Leelavathi D Acharya traded among themselves and contributed to positive LTP. Summary of trades by these entities is given below: Seller Name Buyer Name Vaishali Pragnesh Pandya Darshanna Bhavesh Pandya Leelavathi D Acharya Narayan Acharya Semwal Govindram Dhanesh Satish Korogappa Shetty Pragnesh Rohit Pandya Total LTP as buyer (No. of trades) Vaishali Pragnesh Pandya

Source: SecMarx — sebi:ORDER/PM/RR/2019-20/7325. 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.