sebi:SD/AO/18/2008
Facts / Headnote
Violation not established; matter disposed of
Provisions invoked
- s. 15H
- s. 15J
Regulations relied on
- SEBI (PFUTP) Regulations, 2003 — 3(c)
Parties
- Vikash Gupta
Holding
The alleged violation of Regulation 3(c) of the PFUTP Regulations, 2003 by the Noticee, Vikash Gupta, as specified in the SCN dated August 01, 2008, does not stand established and the matter is disposed of.
Full text
Page 2 of 17 4. During the investigation period, the volume in the scrip increased sharply. It increased from 35,11,786 on November 1, 2004 to touch a high of 1,07,20,562 on November 24, 2004, an increase of 205%.
Page 3 of 17 premium up to Rs.3/- per equity share to its existing shareholders and proposal for increase in authorized share capital from Rs.200 million to Rs.280 million (100 to 140 million equity shares of Rs.2/- each aggregating to Rs.280 million).
Page 4 of 17 for a total consideration of Rs. 27 lakhs. The payment for these shares was made in staggered manner till December, 2004. Further, it is also stated in Investigation Report that they have made a payment of Rs. 7 lakhs in the shape of sale of 14,000 equity shares of Nihal Fiscal Service Pvt. Ltd. From this it appears that Starpoint was having relationship with Shivom Sales Ltd. It may be further noted that these shares were off- loaded during the period of investigation. Mrs. Neelam Agarwal is the common director of M/s. Shivom Sales Ltd and M/s Swaraj Enterprise Pvt Ltd. Neelam Agrawal is the introducer to the client M/s Aurora Fastners Pvt Ltd. Santosh Agarwalla (Promoter of M/s Swaraj Enterprise Pvt Ltd) is husband of Neelam Agarwal. d) M/s. Aurora Fastners Pvt Ltd and the company SSCL have the common telephone number i.e. 0661 2400168. e) The M/s. Daruka Steels Pvt Ltd and M/s. Daruka Sons Pvt Ltd have common address i.e. TT-5, Civil Township, Rourkela- 769
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Source: SecMarx — sebi:SD/AO/18/2008. 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.