sebi:Settlement_Orders_224_Order_Against_Sawaca_Business_Machines_Ltd
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Facts / Headnote
Shri Shetal S. Shah prohibited from associating with any corporate body in accessing the capital market and from buying, selling or dealing in securities for 2 years
Provisions invoked
- s. 11B
- s. 11
- s. 11(4)
- s. 19
Regulations
- Reg. 11
- Reg. 3
- Reg. 13
- Reg. 6
- Reg. 6(d)
Parties
- Shri Shetal S. Shah
Holding
Shri Shetal S. Shah is prohibited from associating with any corporate body in accessing the capital market and from buying, selling or dealing in securities, directly or indirectly, for a period of 2 years with immediate effect.
Full text
5.1.00 By trf 40,00,000 40,11,911.05 5.1.00 600816 To transfer 40,00,000 11,911.05 5.1.00 By trf 40,00,000 40,11,911.05 5.1.00 600817 To transfer 40,00,000 11,911.05 5.1.00 By trf 40,00,000 40,11,911.05 5.1.00 600818 To transfer 40,00,000 11,911.05 5.1.00 By trf 40,00,000 40,11,911.05 5.1.00 600819 To transfer 40,00,000 11,911.05 5.1.00 By trf. 40,00,000 40,11,911.05 5.1.00 600820 To transfer 40,00,000 11,911.05 5.1.00 By trf 40,00,000 40,11,911.05 5.1.00 600821 To transfer 40,00,000 11,911.05 5.1.00 By trf 40,000,000 40,11,911.05 5.1.00 600823 To transfer 30,00,000 10,11,911.05 5.1.00 By trf 40,00,000 50,11,911.05 5.1.00 600822 To transfer 40,00,000 10,11,911.05 5.1.00 By trf 10,00,000 20,11,911.05 5.1.00 600826 To transfer 10,00,000 10,11,911.05 5.1.00 600827 To transfer 10,00,000 11,911.05 Total 4,80,00,000 4,80,00,000 It is seen that the amounts received towards the preferential allotment of shares were "credited" to and "debited" from the company’s account on the day of the allotment itself. Date Particulars Remarks January 12, 01 Letter requesting the company to submit information No reply February 6, 01 Reminder to the company The company was again reminded to send the memorandum and articles of association of the company, latest annual reports, copy of the distribution schedules, bank details, among others. February 16, 01 Reminder Request for extension from the Co. March 03, 01 Reminder No reply March 14, 01 Furnished part of the information April 12, 01 Letter reque
April 30, 02 Summons to appear in person along with details No reply May 10, 02 Furnished part of the information and promised to be present on May 20, 2002 May 21, 02 Summons to appear in person on May 31, 02 No reply June 03, 02 Summons to appear in person on June 13, 02 No reply July 07, 02 Informed the parties that action will be taken based on available records. No reply July 11, 02 Company informed that they shall be present in SEBI office within 15 days from the date of letter i.e. July 26, 2002. SHOW CAUSE NOTICE, REPLY AND HEARING
ORDER Date: July 13, 2004 Regulations, 1995 shall be investigated and proceeded against in accordance with the procedure laid down in these regulations.
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Source: SecMarx — sebi:Settlement_Orders_224_Order_Against_Sawaca_Business_Machines_Ltd. 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.