sebi:Order/VV/NK/2022-23/16740-16759

SEBI · SEBI · 2009-06-04 · Vijayant Kumar Verma, Adjudicating Officer

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Facts / Headnote

Violation of SEBI restraint directions dated January 19, 2010 and January 25, 2010 held established; violation of PFUTP Regulations held not established; matter held fit for penalty under Section 15HB of SEBI Act, 1992

Provisions invoked

• s. 15
• s. 15H
• s. 15I
• s. 15J
• s. 28A

Regulations

• Reg. 3
• Reg. 3(a)

Holding

The Adjudicating Officer held that Beejay, Eversight and their directors, together with Neelanchal, DDM, DDT, Stupendors, Flex and their directors, violated SEBI restraint directions dated January 19, 2010 and January 25, 2010 by indirectly accessing the securities market, attracting penalty under Section 15HB, while the charges under Regulations 3(a)-(d), 4(1) and 4(2)(a) of the PFUTP Regulations, 2003 did not stand.

Full text

Adjudication Order in the matter of Beejay Investments and Financial Consultants Private Limited and Ors Page 2 of 63 5 Shri ADISH JAIN DIRECTOR – EVERSIGHT TRADECOMM PRIVATE LIMITED (AGZPJ0317Q) 15 M/s DIVYADRISHTI MERCHANTS (P) LTD (AABCD8147K)

Adjudication Order in the matter of Beejay Investments and Financial Consultants Private Limited and Ors Page 3 of 63 BACKGROUND 1. SEBI vide ad-interim ex-parte order dated June 04, 2009 in the matter of alleged manipulative trading by certain connected entities, in particular, in the scrips of Cals Refineries Limited (Cals), Confidence Petroleum India Limited, Bang Overseas Limited, Shree Precoated Steels Limited (now known as Ajmera Realty & Infra Limited) and Temptation Foods Limited issued directions inter-alia in respect of entities viz., Beejay Investment & Financial Consultants Private Ltd. bearing PAN no. AABCB0832B (hereinafter, also referred to as “Beejay”), Eversight Tradecomm Private Limited bearing PAN no. AAACE7667E (hereinafter, also referred to as “Eversight”) and Shri Sudhir Jain restraining them from accessing the securities market and prohibited them from buying, selling or dealing in securities market directly or indirectly. The directions against Sudhir and Beejay were confirmed vide Confirmatory Order dated January 19, 2010 and the

Adjudication Order in the matter of Beejay Investments and Financial Consultants Private Limited and Ors Page 4 of 63 investigation into the dealings of the said entities for the period from September 01, 2011 to September 30, 2012 (“Investigation Period”).

Source: SecMarx — sebi:Order/VV/NK/2022-23/16740-16759. 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.