sebi:PG/AM/AO-02/2013

SEBI · SEBI · 2013-01-28 · Piyoosh Gupta, Adjudicating Officer

This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.

Facts / Headnote

Penalty of Rs 2,00,000 imposed under Section 15A(a) for violation of Section 11C(2) and 11C(3)

Provisions invoked

• s. 15A
• s. 15J
• s. 15
• s. 11C
• s. 12
• s. 11C(3)
• s. 11C(2)
• s. 133A

Parties

• Ragini Merchants Private Limited

Holding

Ragini Merchants Private Limited violated Section 11C(2) and 11C(3) of the SEBI Act, 1992 by failing to furnish complete information in response to summons dated November 01, 2011 and December 23, 2011. The Noticee is liable for monetary penalty under Section 15A(a) and a penalty of Rs 2,00,000 was imposed.

Full text

Adjudication Order in respect of Ragini Merchants Private Limited In the matter of dealings of Sanjay Dangi and other entities in various scrips Page 2 of 25 January 28, 2013 i. Ambaji Papers Private Limited (Ambaji) ii. Inco Infrastructures Private Limited (Inco) iii. Kanhaiya Mining And Minerals Private Limited (Kanhaiya) iv. Krishnum Investments Private Limited (Krishnum) v. Lakhi Packaging Private Limited (Lakhi) vi. Ramji Agri Business Private Limited (Ramji) vii. Ramkrishna Fabrication and Machineries Private Limited (Ramkrishna) viii. Runicha Alloys And Steel Private Limited (Runicha) ix. Simple Mining And Power Private Limited (Simple) x. Taitan Management Services Private Limited (Taitan)

Adjudication Order in respect of Ragini Merchants Private Limited In the matter of dealings of Sanjay Dangi and other entities in various scrips Page 3 of 25 January 28, 2013 documents pertaining to the directors in their personal capacity (bank statements, demat statements, correspondence from brokers, dividend vouchers, contract notes, income tax returns filed, income tax acknowledgements, copies of PAN applications, etc) were also found in the premises of Mr. Amit Raja, whereas no such documents or even their copies were found in the premises of the individual directors.

Adjudication Order in respect of Ragini Merchants Private Limited In the matter of dealings of Sanjay Dangi and other entities in various scrips Page 4 of 25 January 28, 2013 exited the scrip at a profit, as per the alleged agreement made with the promoters of MIL.

Source: SecMarx — sebi:PG/AM/AO-02/2013. 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.