sebi:WTM/AB/EFD1/EFD1_DRA4/27530/2023-24
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Facts / Headnote
Proceedings against Noticee no. 2 to 5 disposed of without any directions
Provisions invoked
- s. 19
- s. 11(1)
- s. 12A
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- Noticee no. 2 to 5 (4 entities)
- Bharat Jayantilal Patel (Noticee no. 1, proceedings abated due to death)
Holding
The impugned synchronized trades executed by Noticee no. 2 to 5 in the scrip of Asian Granito India Ltd. (AGIL) do not attract violations of Section 12A(a), (b) and (c) of the SEBI Act, 1992, and Regulations 3(a)-(d), 4(1), 4(2)(a) and (g) of the SEBI (PFUTP) Regulations, 2003. The proceedings against Noticee no. 2 to 5 are disposed of without any directions.
Full text
Final Order in the matter of Asian Granito India Ltd. Page 2 of 13 proceedings against Mr. Bharat Jayantilal Patel (Noticee no. 1 to the SCN) were abated owing to his death and the proceedings were accordingly disposed of vide the Final Order.
Final Order in the matter of Asian Granito India Ltd. Page 3 of 13 5. It is a known fact that the second wave of COVID had started in January 2021
Final Order in the matter of Asian Granito India Ltd. Page 4 of 13 7.3. While in their Reply to the SCN, the Noticees had mentioned various possible
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Source: SecMarx — sebi:WTM/AB/EFD1/EFD1_DRA4/27530/2023-24. 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.