sebi:QJA/GR/IVD/ID11/29967/2023-24
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Facts / Headnote
Findings issued that Noticees No. 1, 2, 6 and 7 (along with VPGL and its promoters/directors) violated Section 12A(a),(b),(c) of the SEBI Act r/w Regulations 3(a),(b),(c),(d) & 4(1) of PFUTP Regulations; show-cause proceedings on penalties/disgorgement pending
Provisions invoked
- s. 11
- s. 11(4)
- s. 19
- s. 11(1)
- s. 12A
- s. 12
- s. 15H
- s. 13
- s. 22
- s. 23
- s. 23H
- s. 17
- s. 28B
- s. 28
- s. 11(5)
- s. 20
- s. 49
Regulations
- Reg. 4
- Reg. 2(c)
- Reg. 3
- Reg. 2(1)(c)
- Reg. 6
- Reg. 29(1)
- Reg. 29
- Reg. 2
- Reg. 1
- Reg. 3(b)
- Reg. 29(2)
- Reg. 29(3)
- Reg. 2(1)(l)
- Reg. 3(1)
- Reg. 30(3)
- Reg. 30(1)
- Reg. 2(1)(q)
- Reg. 30
- Reg. 3(2)
- Reg. 2(1)(q)(2)
Parties
- Bimla Devi Jindal (Noticee No. 1)
- Kamini Jindal (Noticee No. 2)
- Puneet (Noticee No. 3)
- Gourav (Noticee No. 4)
- Ekta Mittal (Noticee No. 5)
- Kanta Devi (Noticee No. 6)
- Komal (Noticee No. 7)
- Praveen Bishnoi (Noticee No. 8)
Holding
Noticees No. 1 (Bimla Devi Jindal), 2 (Kamini Jindal), 6 (Kanta Devi) and 7 (Komal), along with VPGL and its promoters/directors, violated Section 12A(a),(b),(c) of the SEBI Act read with Regulations 3(a),(b),(c),(d) and 4(1) of the PFUTP Regulations by facilitating a fraudulent preferential allotment of shares in lieu of lease rights over land without genuine consideration.
Full text
Order in the matter of Vikas Proppant and Granite Ltd. Page 2 of 96 (hereinafter referred to as “Investigation Period/ IP”) to ascertain as to whether there was any violation of the provisions of SEBI Act, 1992 (hereinafter referred to as “SEBI Act”), SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 (hereinafter referred to as “PFUTP Regulations”), SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (hereinafter referred to as “SAST Regulations”) and SEBI (Prohibition of Insider Trading) Regulations, 2015 (hereinafter referred to as “PIT Regulations”) by certain entities while trading in the scrip of VPGL during the IP . However, in case where there is a need for reference to a period other than the IP, the same has been accordingly considered.
Order in the matter of Vikas Proppant and Granite Ltd. Page 3 of 96 * Bajrang Dass Aggarwal, Bimla Devi Jindal and Kamini Jindal are also promoters of the company. Bajrang Dass Aggarwal and Bimla Devi Jindal are husband and wife and Kamini Jindal is their adopted daughter. Bajrang Dass Aggarwal is also known as Bajrang Dass Jindal. Financial Results
Order in the matter of Vikas Proppant and Granite Ltd. Page 4 of 96 2), Kanta Devi (Noticee No.6) and Komal (Noticee No.7) allegedly without receiving the due consideration from them.
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Source: SecMarx — sebi:QJA/GR/IVD/ID11/29967/2023-24. 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.