sebi:WTM/AB/IVD/ID5/17039/2022-23
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Facts / Headnote
Proceedings against Noticee no. 2 to 10 are disposed of without any adverse directions; Proceedings against Noticee no. 1 stand abated, for the reasons stated in para 7 above.
Provisions invoked
- s. 19
- s. 11(1)
- s. 12A
- s. 15H
- s. 11B(2)
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- Mr. Bharat Jayantilal Patel
- Mr. Minal Bharat Patel
- Mr. Hardik Bharat Patel
- Mr. Ruchit Bharat Patel
- M/s. Pat Financial Consultant Private Limited
- Fidelity Multitrade Pvt. Ltd.
- M/s. Pasha Finance Private Limited
- M/s. Gandiv Investment Pvt. Ltd.
- M/s. Acira Consultancy Pvt. Ltd.
- M/s. Hridaynath Consultancy Pvt. Ltd.
Holding
The Noticees' impugned synchronized trades in the scrip of Garware Polyster Ltd. did not attract violations of Section 12A(a), (b) and (c) of the SEBI Act, 1992 and Regulations 3(a), (b), (c) and (d), 4(1), 4(2)(a) and (g) of the PFUTP Regulations, 2003. Proceedings against Noticees 2 to 10 were disposed of without adverse directions and proceedings against Noticee 1 stood abated due to his demise.
Full text
Final Order in respect of Bharat J Patel & Ors. Page 1 of 12 WTM/AB/IVD/ID5/17039/2022-23 SECURITIES AND EXCHANGE BOARD OF INDIA FINAL ORDER
Final Order in respect of Bharat J Patel & Ors. Page 2 of 12 Securities Market) Regulations, 2003 (hereinafter called as the ‘PFUTP Regulations, 2003’).
Final Order in respect of Bharat J Patel & Ors. Page 3 of 12 2.4. Summary of trading by the Bharat Patel Group in the scrip of Garware during the investigation period is tabulated as under: Table 2 Name of Entity Gross Buy % of Gross Buy to Mkt. Vol Gross Sell % of Gross Sell to Mkt. Vol Net Qty. Bharat Jayantilal Patel 1,631,213 12.6 814,602 6.29 816,611 Hardik Bharat Patel 1,014,734 7.84 342,527 2.65 672,207 Prashant Patel 836,950 6.46 835,000 6.45 1,950 Pat Financial Consultants Pvt. Ltd 793,000 6.12 566,705 4.38 226295 Minal Bharat Patel 479,205 3.7 475,000 3.67 4205 Pankaj Patel 402,387 3.11 400,437 3.09 1950 Pasha Finance Pvt. Ltd. 401,196 3.1 401,196 3.1 0 Ruchit Bharat Patel 299,745 2.32 352,378 2.72 -52633 Acira Consultancy Pvt Ltd 221200 1.71 221,200 1.71 0 Hridaynath Consultancy Pvt Ltd 105,153 0.81 730,153 5.64 -625000 Vanraj Shah 3,800 0.03 1,900 0.02 1900 Moneybee Realty Pvt Ltd 1,900 0.02 1,900 0.02 0 Gandiv Investment Pvt. Ltd. 1,900 0.02 1,900 0.02 0 Fidelity Multitrade Pvt. Ltd. 1,900 0.02 1,900 0.02 0 Pranav Holding Pvt Ltd 300 0 2,050 0.02 -1750 Total 6,194,583 47.83 5,148,848 39.76 ,1045,735
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Source: SecMarx — sebi:WTM/AB/IVD/ID5/17039/2022-23. 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.