sebi:PG/AM/AO-60/2013
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Facts / Headnote
Penalty of Rs. 3,00,000 imposed on the Noticee for violation of Section 11C(2) and 11C(3)
Provisions invoked
- s. 15A
- s. 15J
- s. 12
- s. 11C(3)
- s. 11C(2)
Parties
- Calcom Consultancy Services Private Limited
Holding
Calcom Consultancy Services 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 September 06, 2011, September 29, 2011 and December 02, 2011 and is liable for monetary penalty under Section 15A(a); penalty of Rs. 3,00,000 imposed.
Full text
Adjudication Order in respect of Calcom Consultancy Services Private Limited In the matter of dealings of Sanjay Dangi and other entities in various scrips Page 2 of 21 July 30, 2013 and whether there was any attempt to manipulate the shares of the company before the Foreign Currency Convertible Bond (FCCB) issue of MIL. Based on the preliminary findings of the aforesaid investigation, it appeared to SEBI that a group of entities connected to each other (Dangi group) had influenced the price rise in the scrip during the ‘pricing period’ of FCCBs and thereafter, exited the scrip at a profit, as per the alleged agreement made with the promoters of MIL.
Adjudication Order in respect of Calcom Consultancy Services Private Limited In the matter of dealings of Sanjay Dangi and other entities in various scrips Page 3 of 21 July 30, 2013 Sanjay Dangi, his associates & promoter entities of 4 companies i.e. MIL, Hubtown Ltd., WCL & BIL. In the said order, the following 10 Dangi entities and 14 Ashika entities, including Calcom Consultancy Services Private Limited (CCSPL/Noticee) were restrained from accessing the securities market and further prohibited from buying, selling or dealing in securities in any manner whatsoever, till further
Adjudication Order in respect of Calcom Consultancy Services Private Limited In the matter of dealings of Sanjay Dangi and other entities in various scrips Page 4 of 21 July 30, 2013 not to buy, sell or deal in securities in own/proprietary account in any manner till further directions and also not to take/deal with fresh/new clients with immediate effect till further orders.
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Source: SecMarx — sebi:PG/AM/AO-60/2013. 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.