sebi:Order/PM/PA/2022-23/18093-18097
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Facts / Headnote
Penalty of Rs.5,00,000 each imposed on Noticee 1, 2, 3 and 4 for violation of PFUTP Regulations; SCN against Noticee 5 (Dharmendra Bhojak) disposed of / abated upon death on May 11, 2022.
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 4
- Reg. 4(1)
- Reg. 3(a)
Parties
- Arvind Babulal Goyal
- Sorab Wadia
- Ramesh Dwarkadas Daga
- Rupesh D Bhatt
- Dharmendra Bhojak
Holding
Noticees 1 to 4 created artificial volume by reversal trades in Kanchan International Ltd. in violation of regulations 3(a),(b),(c),(d), 4(1), 4(2)(a) and (g) of SEBI (PFUTP) Regulations and are liable to Rs.5,00,000 penalty each under Section 15HA; proceedings against Noticee 5 abate on death.
Full text
Adjudication order in respect of 5 entities, Page 2 of 24 In the matter of Kanchan International Ltd. (a) and (g) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 (hereinafter referred to “SEBI (PFUTP) Regulations”).
Adjudication order in respect of 5 entities, Page 3 of 24 In the matter of Kanchan International Ltd. Name of the Noticee Email ID Arvind Babulal Goyal (Noticee 1) goyalarvind@hotmail.com AGOYAL143@YAHOO.COM Sorab Wadia (Noticee 2) dbinvestments39@gmail.com ARVINDG500@GMAIL.COM Dharmendra Bhojak (Noticee 5) dharmendra.bhojak@gmail.com dhbhojak@rediffmail.com
Adjudication order in respect of 5 entities, Page 4 of 24 In the matter of Kanchan International Ltd. days to furnish his reply. However, I note that Noticee 1 failed to furnish his reply.
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Source: SecMarx — sebi:Order/PM/PA/2022-23/18093-18097. 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.