sebi:VSS/AO-183/2009
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Facts / Headnote
Violation established - Noticees held to have indulged in fraud, unfair trade practices and manipulation in connivance with one another
Provisions invoked
- s. 15
- s. 12A
- s. 15H
- s. 15G
- s. 15J
Regulations
- Reg. 3
- Reg. 2
- Reg. 2(e)
- Reg. 3(a)
- Reg. 3(b)
Parties
- Jayesh Valia
- Sangita J Valia
- Madhav J Valia
- Raj J Valia
- Vasparr Shelter Ltd.
Holding
The Noticees indulged in fraud, unfair trade practices and manipulation in the scrip of YCL by mis-disclosing promoter shareholding, inflating unaudited profits, delaying and clubbing positive corporate announcements, and selling promoter-held shares after impacting the price, violating PFUTP Regulations 3(a)-(d) and PIT/12A provisions.
Full text
Page 2 of 30 Rs.37.25 on December 1, 2005 to a high of Rs.98.60 on January 13, 2006 and closed at Rs.96.85 on January 13, 2006.
Page 3 of 30 SHOW CAUSE NOTICE, HEARING AND REPLY 5. Show Cause Notice dated September 10, 2008 (hereinafter referred to as “SCN”) was issued to them under rule 4(1) of the Rules to show cause as to why an inquiry should not be held against them and penalty be not imposed under sections 15HA and 15G of SEBI Act for the alleged violations specified in the said SCN.
Page 4 of 30 during the personal hearing, the Noticees also submitted certain additional documents. CONSIDERATION OF ISSUES AND FINDINGS
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Source: SecMarx — sebi:VSS/AO-183/2009. 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.