sebi:Order/SM/DD/2021-22/14328-14339
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 12A
- s. 15H
- s. 13
- s. 16
- s. 15J
- s. 11C
- s. 11C(3)
- s. 15F
- s. 28A
- s. 23J
- s. 18
- s. 23
- s. 23H
- s. 29A
- s. 28
Regulations
- Reg. 4
- Reg. 3
- Reg. 2(1)(c)
- Reg. 4(1)
- Reg. 3(a)
Parties
- Noticee 1
- Noticee 3
- Noticee 4
- Noticee 5
- Noticee 6
- Noticee 7
- Noticee 8
- Noticee 9
- Noticee 10
- Noticee 11 (Topline Fabrics Private Limited)
- Noticee 12 (Tushar Commodities Private Limited)
Holding
The order addresses whether Noticees 1 to 12 violated Section 12A(a),(b),(c) of the SEBI Act, Regulations 3 and 4 of the PFUTP Regulations, and Sections 16, 13, 18 of SCRA read with Section 2(i) of SCRA, and whether Noticees 7 to 12 violated Section 11C(3) of the SEBI Act, in connection with bulk SMS-based manipulation of the KCL scrip. The final disposition and penalty are not stated in the extracted text.
Full text
___________________________________________________________________ Adjudication Order in the matter of Kalpa Commercial Limited Page 2 of 53
___________________________________________________________________ Adjudication Order in the matter of Kalpa Commercial Limited Page 3 of 53
___________________________________________________________________ Adjudication Order in the matter of Kalpa Commercial Limited Page 4 of 53
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Source: SecMarx — sebi:Order/SM/DD/2021-22/14328-14339. 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.