sebi:Order/KS/AS/2021-22/12328
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Facts / Headnote
Violation established; penalty of Rs 1,00,000 imposed on Krishna Kumar Periwal under Section 23H of the SCRA, 1956
Provisions invoked
- s. 13
- s. 16
- s. 15J
- s. 15
- s. 15F
- s. 28A
- s. 18
- s. 23
- s. 23H
- s. 29A
- s. 17
- s. 23J
- s. 16(1)
- s. 28
Parties
- Krishna Kumar Periwal
Holding
The Noticee violated Section 2(i) read with Sections 16, 13 and 18 of the SCRA, 1956 read with SEBI Notification dated October 03, 2013 by receiving 2,00,000 shares of Timbor Home Ltd off-market on August 29, 2014 with delayed payment. A monetary penalty of Rs 1,00,000 under Section 23H of the SCRA, 1956 was imposed.
Full text
Adjudication order in respect of Krishna Kumar Periwal in the matter of Timbor Home Ltd Page 2 of 42 Section 2(i) read with Section 16, 13 and 18 of the SCRA, 1956, read with SEBI Notification No. LAD-NRO/GN/2013-14/26/6667 dated October 03, 2013 by Krishna Kumar Periwal (AFMPP1445B).
Adjudication order in respect of Krishna Kumar Periwal in the matter of Timbor Home Ltd Page 3 of 42 S. No. Client Name Client PAN 1 Paresh Nathalal Chauhan AAPPC4494H 2 Gagabhai Desai Amul AHDPD3526G 3 Nimish Pankajkumar Shah AVXPS8823M 4 Abhijeet Dwarkadas Daga AHTPD5397B 5 Anant Sureshchandra Maloo ACSPM2958D 6 Maloo Building Materials Pvt Ltd AABCM0619D 7 Manan Vidhyapati Patel AFJPP0452P 8 Dipali Nilay Patel AHSPP7976M 9 Sushma Rani ADHPR4637A 10 Sanjay Jethalal Soni HUF AAWHS0331J 11 Krishna Kumar Periwal AFMPP1445B 12 Shirish Manilal Vyas ABUPV9961G 13 Mahesh Somabhai Desai AMGPD0183P 14 Rakesh Patel AGAPP2993B 15 Soni Sanjay Jethalal BVSPS9741N 16 Soni Krupa Sanjay BVSPS9740P 17 Kajal Nimish Shah AVXPS8824N 18 Hettich India Private Limited AAACH8849M 19 Jatin Natvarlal Parekh ACGPP9135R 20 Nina Ajay Maloo AJXPM3547Q 21 Mukesh Himatlal Shah ACAPS7083B
Adjudication order in respect of Krishna Kumar Periwal in the matter of Timbor Home Ltd Page 4 of 42 3) It was observed from the data regarding off-market transactions of the 21 connected entities submitted by the depositories, vide email dated November 22 and 28, 2019 by National Securities Depository Limited (Annexure A1) and vide email dated November 19 and 23, 2019 by Central Depository Services Limited (Annexure A2) that during the IP, 20 out of 21 connected entities, except Kajal Nimish Shah (PAN-AVXPS8824N), received or transferred shares of THL from/to the remaining 19 connected entities in off- market mode. Based on the details of off-market transactions received from the depositories, the Delivery Instruction Slips (Annexure B) (hereinafter referred to as “DIS slips”) were sought from the depository participants
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