sebi:Order/KS/AS/2021-22/11649
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Adjudication proceedings disposed of; no violation found against the Noticee
Provisions invoked
- s. 11
- s. 15
- s. 15H
- s. 15J
- s. 12
- s. 2(72)
Regulations
- Reg. 4
- Reg. 2
- Reg. 4(1)
- Reg. 201
- Reg. 2(1)(g)
- Reg. 9(1)
- Reg. 2(1)(f)
- Reg. 9(3)
Parties
- Naveen Chandra
Holding
The Adjudicating Officer disposed of the adjudication proceedings initiated against Naveen Chandra, finding no violation of Regulation 9(3) of the PIT Regulations, 2015 established against him for granting pre-trading approval to Udayant Malhoutra.
Full text
Adjudication order in respect of Naveen Chandra in the matter of Dynamatic Technologies Ltd Page 2 of 50 Rules, 1995 (hereinafter referred to as Adjudication Rules, 1995) to inquire into and adjudge under Section 15HB of the SEBI Act, 1992, the alleged violation of provisions of Regulation 9(3) of the PIT Regulations, 2015 by the Noticee. SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING
Adjudication order in respect of Naveen Chandra in the matter of Dynamatic Technologies Ltd Page 3 of 50 It was observed that, closing price of DTL’s scrip at Bombay Stock Exchange (hereinafter referred to as ‘BSE’) and at National Stock Exchange (hereinafter referred to as ‘NSE’) was Rs. 2,895.10 and Rs. 2,899.55 respectively on November 15, 2016, as against closing price of Rs. 3,227.40 and Rs. 3,166.75 respectively on November 11, 2016 i.e. a decrease of Rs. 332.30 and Rs. 267.20 respectively was observed. From the details submitted by DTL vide their letter dated June 14, 2019 to SEBI (enclosed as Annexure C), following chronology of events that lead to announcement of the financials for the quarter ended September 30, 2016 was observed: Sr. No. Date Particulars Names of persons party to the event Internal participants External participants 1 Aug 10, 2016 The Board in its meeting held on that day, scheduled the next Board meeting between November 10, 2016 to November 14, 2016 for the quarter and half year ended September 30, 2016. (The Company clarified that the actual financial results were not discussed at that stage) 1.Vijay Kapur 2.Govind Manik Mirchandani 3.Nalini Ranjan Mohanty 4.Malavika Jayaram 5.Dietmar Hahn 6.James Tucker 7.Raymond Keith Lawton 8.P.S. Ramesh 9.Hanuman Kumar Sharma 10.Udayant Malhoutra 11.Aditya Kumar Jain None 2 Aug 31, 2016 Email Dispatch of notice convening the meeting of the Board of Directors and the audit & risk management committee on Novem
Adjudication order in respect of Naveen Chandra in the matter of Dynamatic Technologies Ltd Page 4 of 50 Sr. No. Date Particulars Names of persons party to the event Internal participants External participants 3 Oct 11, 2016 Draft financials received by email from JKM Ferrotech Limited, a subsidiary of DTL The said email was sent by Asit Sabat to: 1 Nitin Radhakishan Ajage; 2 Lakshmi Kamath None 4 Oct 17, 2016 First cut draft standalone financials shared with auditors by email The mail was sent by Nitin Ajage to: 1 Aravinda S 2 Vivekananda Rao 3 Jayagopal Gajendra 4 Chalapathi P 5 Vignesh V
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:Order/KS/AS/2021-22/11649. 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.