sebi:WTM/ASB/ISD/ISD-SEC-4/29849/2023-24
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Facts / Headnote
Requests of Noticees 7 and 8 disposed of; DEMAT accounts/trading accounts of Priyankbhai V Pajapati and Suraj G Prajapati directed to be de-freezed.
Provisions invoked
- s. 19
Parties
- Vinod Vilas Sable
- Prijesh A Kurani
- Dharini P Kurani
- Ashish P Shah
- Jalaj Agrawal
- Arvind Shukla
- Priyankbhai V Pajapati
- Suraj G Prajapati
- Jigar D Chaudhari
- Piyush B Patel
- Nishil K Malde
Holding
The DEMAT accounts and trading accounts of Noticees 7 (Priyankbhai V Pajapati) and 8 (Suraj G Prajapati) are directed to be de-freezed, as they have complied with the SAT Order by depositing the alleged unlawful gains of Rs. 18,22,151.69 and Rs. 13,53,407.82 respectively, with liens created in favour of SEBI.
Full text
Order in respect of Priyankbhai V Prajapati and Suraj G Prajapati Page 2 of 9 Table – 1 Noticee No. Noticee 1 Vinod Vilas Sable 2 Prijesh A Kurani 3 Dharini P Kurani 4 Ashish P Shah 5 Jalaj Agrawal 6 Arvind Shukla 7 Priyankbhai V Pajapati 8 Suraj G Prajapati 9 Jigar D Chaudhari 10 Piyush B Patel 11 Nishil K Malde
Order in respect of Priyankbhai V Prajapati and Suraj G Prajapati Page 3 of 9 whichever is earlier. The Noticees are permitted to settle the pay-in and pay-out obligations in respect of transactions, if any, which have taken place before the close of trading on the date of this order; c) The amounts mentioned in Table no.22 at paragraph 74 of this Order, being the alleged unlawful gains, shall be impounded, jointly and severally, from the entities mentioned in the respective column of the said table; d) Further, the Noticees as named in the Table no.22 are directed to open an escrow account(s) with a Nationalized/Scheduled Commercial bank jointly and severally, and deposit within 15days from the date of service of this order, the impounded amount as directed in para(c) above which has been prima facie determined to be the proceeds of wrongful profits/gains generated from the unfair trade practices activities as noted above in this order. The said Escrow account/s shall be interest-bearing escrow account and shall create a lien in favour of SEBI. Further, the monies kept therein shall not be released without permission from SEBI e) Banks are directed that no debits shall be made, without permission of SEBI, in respect of the bank accounts held jointly or severally by the persons mentioned under Table no. 22, except for the purposes of transfer of funds to the Escrow Account. Further, the Depositories are also directed that no debit shall be made, without permission of SEBI, in
Order in respect of Priyankbhai V Prajapati and Suraj G Prajapati Page 4 of 9 h) Noticees are further directed to provide a full inventory of all their assets whether movable or immovable, or any interest or investment or charge in any of such assets, including property, details of all their bank accounts, demat accounts, holdings of shares/securities if held in physical form and mutual fund investments and details of companies in which they hold substantial or controlling interest immediately but not later than 15 working days of this Order; ”
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Source: SecMarx — sebi:WTM/ASB/ISD/ISD-SEC-4/29849/2023-24. 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.