sebi:ORDER/SBM/KL/2021-22/14661-14662
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Facts / Headnote
Show cause notice dismissed; no monetary penalty imposed on either Noticee
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15I
Regulations
- Reg. 7
- Reg. 3
- Reg. 4
- Reg. 3(a)
- Reg. 7A
Parties
- Bhanumati Dharamraj Giri (Noticee no. 1)
- Comfort Securities Limited (Noticee no. 2)
Holding
Noticee no. 1 (Bhanumati D. Giri) was held not liable for violating Regulations 3(a),(b),(c),(d), 4(1), 4(2)(a) & 4(2)(g) of the PFUTP Regulations through self-trades in RKDL, and consequently Noticee no. 2 (Comfort Securities Limited) was held not liable for violating Clause A(2) of the Code of Conduct for Stock Brokers.
Full text
Adjudication order in the matter of Ravi Kumar Distilleries Limited Page 2 of 21 broker viz. Comfort Securities Limited (hereinafter referred to as ‘CSL’/‘Noticee no. 2’), which was also the Merchant Banker/BRLM associated with the said IPO of RKDL. In this regard, SEBI conducted an investigation to examine the irregularities in the trading of the scrip of RKDL committed by certain suspected entities during the period from December 27, 2010 to January 20, 2011 (hereinafter referred to as ‘Investigation period’).
Adjudication order in the matter of Ravi Kumar Distilleries Limited Page 3 of 21 SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter referred to as ‘Adjudication Rules’), to inquire into and adjudge under the provisions of section 15 HA and section 15HB of the SEBI Act, the aforementioned alleged violations of the provisions of law by the Noticees.
Adjudication order in the matter of Ravi Kumar Distilleries Limited Page 4 of 21 NSE Period Dates Opening Price (volume) on first day of the period(Rs) Closing price (volume) on last day of the period (Rs) Low price (volume) during the period (Rs) High Price(volume) during the period (Rs) Avg. no. of (shares) traded daily during the period Patch 1 27/12/2010 Price 72 80.05 72 91 7,29,66,002 Vol 7,29,66,002 7,29,66,002 7,29,66,002 7,29,66,002 Patch 2 28/12/2010 - 20/01/2011 Price 79.6 31.05 31.05 93.8 85,34,757 Vol 1,90,53,244 28,414 16,711 3,02,65,401
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Source: SecMarx — sebi:ORDER/SBM/KL/2021-22/14661-14662. 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.