sebi:PG/AM/AO-87/2012

SEBI · SEBI · 2012-12-31 · 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

Noticee held liable for monetary penalty under Section 15A(a) of the SEBI Act, 1992 for violating Section 11C(2) and 11C(3)

Provisions invoked

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

Parties

• Sanskar Trade-Link Private Limited

Holding

The Noticee, Sanskar Trade-Link Private Limited, violated Section 11C(2) and 11C(3) of the SEBI Act, 1992 by failing to comply with three summonses issued by the Investigation Agency, and is liable for monetary penalty under Section 15A(a) of the SEBI Act, 1992.

Full text

Adjudication Order in respect of Sanskar Trade-Link Private Limited In the matter of Dealings of Sanjay Dangi and other entities in various scrips Page 2 of 25 December 31, 2012 companies incorporated by MIL which had together cornered a large part of the shareholding of MIL. 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 Sanskar Trade-Link Private Limited In the matter of Dealings of Sanjay Dangi and other entities in various scrips Page 3 of 25 December 31, 2012 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 Sanskar Trade-Link Private Limited In the matter of Dealings of Sanjay Dangi and other entities in various scrips Page 4 of 25 December 31, 2012 of many companies where there was capital raising exercise through FCCB issue, ADR/GDR issue, QIB/QIP placement, preferential allotment or loans or pledge/revocation of pledge of promoter shares. Among the several scrips in which Dangi group was trading, their role was taken up for examination in their dealings in the shares of Hubtown Ltd. (Hubtown) (earlier known as Ackruti City Ltd.); Welspun Corp Ltd. (earlier known as Welspun – Gujarat Stahl Rohren Ltd.) (WCL), Brushman (India) Ltd. (BIL) and RPG Transmission Ltd. (RPG).

Source: SecMarx — sebi:PG/AM/AO-87/2012. 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.