sebi:Settlement_Orders_215_Order_against_Minal_Engineering_Limited
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Facts / Headnote
Interim directions issued restraining dealings and transfers pending inquiry by SEBI
Provisions invoked
- s. 11(4)
- s. 19
- s. 11(1)
Parties
- J B Parikh
- Shrikant J Parikh
- J V Joshi
- Amul J Patel
- Vikram J Parikh
- Malay Karbhari
- Minal Engineering Ltd.
Holding
The promoters/directors of Minal Engineering Ltd. were restrained from buying, selling or dealing in its securities, depositories were barred from giving effect to transfers from their accounts, and the company was barred from reissuing forfeited shares or issuing bonus shares, pending inquiry.
Full text
on March 31, 2005 to 9.72% as on June 30, 2005, and there was a corresponding increase in the promoter’s holding from 89.49% to 90.28%. Besides, there is a discrep 20,900 shares in the breakup of the promoters’ shareholding and the aggregate promoters’ shareholding in the report filed by the company at BSE for the quarter end 2005.
The General Reserves of the company as on March 31, 2004 were Rs.38,22,170 to which the profit of Rs.3.8 crore was added in the year 2004-05. The said profit was not f core business of the company but from the income of partnership firm. From this and from an analysis of the balance sheet it appears that the bonus was sought to be from the reserves built not out of profits from the core business, but from the income received from the partnership firm. It is a matter of record that the income for the ended June 30, 2005 declined by 87%, after the conjuror’s touch has worn thin.
Date Open High Low Close Volume Trades 20/04/2005 24.8 24.8 24.8 24.8 200 1 21/04/2005 24.85 24.85 24.85 24.85 68 1 22/04/2005 25.2 26 25.2 25.6 700 6 11/05/2005 25.25 25.25 25 25 600 3 18/05/2005 24 24 24 24 1 1 19/05/2005 23 23 23 23 1 1 20/05/2005 23.15 23.15 23.15 23.15 50 1 23/05/2005 23 23 23 23 100 1 26/05/2005 21.95 21.95 21.95 21.95 100 1 01/06/2005 23 23 23 23 1049 3 02/06/2005 24.15 24.15 24.15 24.15 850 4 03/06/2005 25.35 25.35 25.35 25.35 122 2 07/06/2005 26 26 24.75 24.75 2400 3 08/06/2005 25.95 25.95 25.95 25.95 150 1 09/06/2005 25 26.75 25 26.5 900 5 10/06/2005 27.8 27.8 26.5 26.5 550 6 13/06/2005 27.8 27.8 27.8 27.8 100 1 14/06/2005 29.15 29.15 29 29.15 550 5 15/06/2005 30.6 30.6 29.5 30.6 301 3 17/06/2005 32.1 32.1 32.1 32.1 100 1 21/06/2005 33.7 33.7 33.7 33.7 300 3 23/06/2005 35.25 35.35 32.15 35.35 2188 4 24/06/2005 36 36.1 33.6 34.5 2200 10 27/06/2005 36 36 36 36 50 1 29/06/2005 37.8 37.8 37.8 37.8 100 1 30/06/2005 35.95 39.65 35.95 39.65 200 3 04/07/2005 40 40 40 40 100 1 05/07/2005 42 42 42 42 300 2 06/07/2005 44.1 44.1 44.1 44.1 400 1 07/07/2005 46.3 46.3 46.3 46.3 1 1 08/07/2005 48.6 48.6 48.6 48.6 6070 10 11/07/2005 51 51 51 51 118 1 12/07/2005 53.55 53.55 53.55 53.55 450 2 13/07/2005 56.2 56.2 56.2 56.2 5 1 14/07/2005 59 59 59 59 5 1 15/07/2005 61.95 61.95 61.95 61.95 600 5 18/07/2005 65 65 65 65 600 2 19/07/2005 68.25 68.25 68.25 68.25 1300 5 20/07/2005 71.65 71.65 71.65 71.65 100 1 21/07/2005 75.2 75.2 75.2 75.2 50 1 22/07/2005 78.95 78.95 78.95
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Source: SecMarx — sebi:Settlement_Orders_215_Order_against_Minal_Engineering_Limited. 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.