sebi:Order/GR/AE/2019-20/6115-6137
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Facts / Headnote
Violation established against Magnum Fincom Broking Private Limited and connected front entities; penalty imposed under Section 15HA of SEBI Act, 1992
Provisions invoked
- s. 15
- s. 11B
- s. 12A
- s. 11
- s. 15H
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 3
- Reg. 3(a)
- Reg. 111
Parties
- Magnum Fincom Broking Private Limited (Noticee No.1)
- 23 connected entities (Noticee Nos. 2 to 23)
- (Late) Shri Jadavji Karamshi Chheda
Holding
Magnum (Noticee No.1), in connivance with 23 connected front entities, cornered shares reserved for retail investors in the IPOs of Kernex Microsystems Ltd., Punj Lloyd Ltd. and ABG Shipyard Ltd. through multiple applications and off-market transfers, in violation of Section 12A of SEBI Act read with Regulation 3 of PFUTP Regulations and DIP Guidelines read with ICDR Regulations.
Full text
Adjudication Order in the matter of dealings of Magnum Fincom Broking Private Limited in the IPOs of Kernex Microsystems Limited, Punj Lloyd Limited and ABG Shipyard Limited Page 2 of 49
Adjudication Order in the matter of dealings of Magnum Fincom Broking Private Limited in the IPOs of Kernex Microsystems Limited, Punj Lloyd Limited and ABG Shipyard Limited Page 3 of 49
Adjudication Order in the matter of dealings of Magnum Fincom Broking Private Limited in the IPOs of Kernex Microsystems Limited, Punj Lloyd Limited and ABG Shipyard Limited Page 4 of 49
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Source: SecMarx — sebi:Order/GR/AE/2019-20/6115-6137. 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.