sebi:Order/VV/NK/2020-21/10193
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Facts / Headnote
Show Cause Notice disposed of without imposition of penalty
Provisions invoked
- s. 11
- s. 15H
- s. 15I
- s. 15J
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- BP Comtrade Private Limited
Holding
The alleged violations of Regulations 3(a), 3(b), 3(c), 3(d), 4(1), 4(2)(a) and 4(2)(e) of SEBI (PFUTP) Regulations, 2003 were not established against BP Comtrade Private Limited, and the Show Cause Notice was disposed of without imposition of penalty.
Full text
Page 2 of 18 2. It was alleged that the Noticee was one of the largest traders in the scrip of Mefcom and had accounted for gross purchase of 380432 shares (approximately 1.60%) and gross sale of and 380313 shares (approximately 1.59%). It was also alleged that the Noticee had indulged in self-trades during the investigation period. Further, the Noticee was also alleged to be instrumental in manipulating the price of the scrip through its trading including first trades.
Page 3 of 18 SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING 5. A Show Cause Notice (hereinafter referred to as “SCN”) EAD-8/JS/VRP/5514/2018 dated February 21, 2018 was inter-alia issued to the Noticee under Rule 4 of the Adjudication Rules to show cause as to why an inquiry should not be initiated and
Page 4 of 18 Sr. Name of Entity PAN NO. Connection 7 Vishvas Securities Limited AAACV2921N Shared same address as that of Mefcom during the Investigation period (viz., 912 Kailash Building KG Marg Delhi) Off market transfer to Master Finlease Ltd., SIC Stock and Services Pvt. Ltd. and Avisha Credit Capital Ltd. During the IP, Avisha Credit capital Ltd. and Master Finlease Ltd. were holding 45% of share capital in Vishvas Securities Ltd. (Unlisted Co.) - as on 30/9/2006 Atul Joshi one of the present directors of Vishvas Securities Ltd., as on December 16, 2015, is also director in Mefcom Agro Industries Ltd. 8 Vijay Jindal (Master Finlease Limited- MFL)
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Source: SecMarx — sebi:Order/VV/NK/2020-21/10193. 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.