sebi:Order/VV/NK/2020-21/9668
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Facts / Headnote
Show Cause Notice disposed of without imposition of any penalty
Provisions invoked
- s. 11
- s. 15H
- s. 15I
- s. 15J
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- Anoop Jain (HUF)
Holding
The alleged violations of Regulations 3(a), 3(b), 3(c), 3(d) and 4(1) of SEBI (PFUTP) Regulations, 2003 do not stand established against the Noticee i.e. Anoop Jain (HUF), and the Show Cause Notice is disposed of without imposition of any penalty.
Full text
Adjudication Order in respect of Anoop Jain (HUF) in the matter of Greencrest Financial Services Limited . Page 2 of 12 allotted 1,23,00,000 shares at Rs.12 per share aggregating to a value of Rs. 14.76 Crore to 45 non-promoters. The last traded price of the scrip of the Company was Rs. 6.92 at the time of both the preferential allotments.
Adjudication Order in respect of Anoop Jain (HUF) in the matter of Greencrest Financial Services Limited . Page 3 of 12 value of the Company was not supported by the financials of the Company and therefore was not backed by any market fundamentals. It was also noted that the Company had not made any major corporate announcements during the investigation period, except for the declaration of financial results, split announcement etc.
Adjudication Order in respect of Anoop Jain (HUF) in the matter of Greencrest Financial Services Limited . Page 4 of 12 which prima facie the Company and the three entities including the Noticee were allegedly connected are depicted as below:-
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Source: SecMarx — sebi:Order/VV/NK/2020-21/9668. 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.