sebi:WTM/AB/IVD/ID13/22343/2022-23
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Facts / Headnote
SCN disposed of without any directions
Provisions invoked
- s. 15
- s. 19
- s. 11(1)
- s. 11B
- s. 12A
- s. 11
- s. 15I
- s. 15G
- s. 2(30)
Regulations
- Reg. 199
- Reg. 3
- Reg. 3(i)
- Reg. 2
- Reg. 2(c)
- Reg. 2(e)
- Reg. 12
- Reg. 201
- Reg. 2(g)
Parties
- Pradeep Kumar Sharma
Holding
The SCN issued to Pradeep Kumar Sharma alleging insider trading in Vaibhav Global Ltd. shares was disposed of without any directions. The allegation that he traded while in possession of UPSI could not be sustained because the adjudication order dated June 30, 2022 did not hold his wife, Ms. Reeta Sharma, guilty of communicating UPSI to him.
Full text
Final Order in respect of Pradeep Sharma Re: Vaibhav Global Ltd. Page 2 of 25 2. The brief facts of the case, the brief findings of the investigation and the
Final Order in respect of Pradeep Sharma Re: Vaibhav Global Ltd. Page 3 of 25 products in the USA and United Kingdom on its TV Shopping channels and complimented by e-commerce websites/mobile apps. 2.4. The investigation in the matter of suspected trading activities of certain entities during the IP in the scrip of Vaibhav Global, inter-alia, revealed the following relevant announcements being made by Vaibhav Global during the IP: (i) On April 20, 2015, the Company informed the exchanges that "meeting of the Board of Directors will be held on May 21, 2015, inter alia, to consider and approve the audited financial results of the Company for the quarter and year ended March 31, 2015 and the Board will also consider the recommendation of final dividend, if any, for the FY ended March 31, 2015". (ii) On April 21, 2015, the Company announced closure of trading window for sale/ purchase of shares in the scrip w.e.f. May 06, 2015 to May 22, 2015 owing to declaration of audited financial results of the Company for the quarter and year ended March 31, 2015 and to consider the recommendation of final dividend for the financial year ended March 31, 2015 in the forthcoming board meeting to be held on May 21, 2015. (iii) On May 21, 2015, Vaibhav Global, inter- alia, announced that the Company's Board of the Directors in the meeting held on May 21, 2015, inter-alia, transacted the following: Approval of financial results: The Board approved and declared the audited financials results of th
Final Order in respect of Pradeep Sharma Re: Vaibhav Global Ltd. Page 4 of 25 Date Vaibhav price (Rs.) Vaibhav %Price change over the previous trading day Sensex %Price change over the previous trading day Vaibhav price (Rs.) Vaibhav %Price change over the previous trading day Nifty %Price change over the previous trading day 20.05.2015 780.15 0.67 27,837.21 0.69 781.60 0.72 8423.25 0.68 21.05.2015 772.40 -0.99 27,809.35 -0.10 773.50 -1.03 8421.00 -0.02 22.05.2015 657.50 -14.88 27,957.50 0.53 660.15 -14.65 8458.95 0.45
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Source: SecMarx — sebi:WTM/AB/IVD/ID13/22343/2022-23. 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.