sebi:Order/GR/RK/2021-22/12972-12975

SEBI · SEBI · 2013-10-03 · G Ramar, Adjudicating Officer

This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.

Facts / Headnote

Violations established; penalty of Rs. 1,00,000 each imposed on the four Noticees under Section 23H of SCR Act, 1956

Provisions invoked

Parties

Holding

The four Noticees violated Section 2(i) read with Sections 13, 16 and 18 of SCRA, 1956 read with SEBI Notification dated October 03, 2013 by entering into off-market transfers of Videocon Industries Ltd. shares without payment/receipt of consideration, and each was held liable for monetary penalty under Section 23H of SCRA, 1956.

Full text

Adjudication Order in respect of 4 entities in the matter of M/s Videocon Industries Limited Page 2 | 16 VIL on the complaint alleging price fall, for the period April 03, 2017 to September 29, 2017. Based on the report of NSE, SEBI started an investigation for the period of April 03, 2017 to September 29, 2017 (hereinafter referred to as “investigation period/IP”) in the scrip of VIL for the possibility of insider trading and volume manipulation by certain entities. During the investigation, SEBI had observed prima facie violations of Section 2(i) of Securities Contracts (Regulation) Act, 1956 (hereinafter referred to as “SCR Act, 1956”) read with Section 13, 16 and 18 of SCR Act, 1956 read with SEBI Notification dated October 03, 2013 by the Noticees.

Adjudication Order in respect of 4 entities in the matter of M/s Videocon Industries Limited Page 3 | 16 a) The following was observed from the transaction statements of the Noticee No. 1 to 3 who had transferred shares of VIL through off market to ‘Acuity Merchants Pvt. Ltd.’ : Name of the promoter Name of the entity(s) to whom shares were transferred Date on DI Slip when the request to shares transfer was made No. of shares transferred Videocon Realty And Infrastructures Ltd Acuity Merchants Pvt Ltd 06/03/2017 185000 16/03/2017 125000 15/04/2017 25000 05/05/2017 300000 06/05/2017 20000 06/05/2017 150000 08/05/2017 480000 Total 1285000

Adjudication Order in respect of 4 entities in the matter of M/s Videocon Industries Limited Page 4 | 16 d) AMPL had submitted the following transaction which were made during the IP: Name of the entity PAN of the entity No. of shares transferred P-Square Financial Consultancy Pvt Ltd (PSFCPL) AAECP7647K 150000

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.

Analyse this matter in Ontology · Plans

Source: SecMarx — sebi:Order/GR/RK/2021-22/12972-12975. 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.