sebi:WTM/GA/115/ISD/12/06
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Facts / Headnote
Show cause notice dated June 16, 2004 disposed off with no further directions against European Investments Ltd. and Far East Investments Ltd.
Provisions invoked
- s. 11
- s. 19
Regulations
- Reg. 4
- Reg. 11
- Reg. 13
- Reg. 3
- Reg. 4(b)
Parties
- European Investments Ltd.
- Far East Investments Ltd.
Holding
The show cause notice dated June 16, 2004 issued to European Investments Ltd. and Far East Investments Ltd. for alleged violation of Regulation 4(b) of the FUTP Regulations is disposed off with no directions, giving the entities the benefit of doubt.
Full text
shares respectively. 1.3 In the facts and circumstances, Securities and Exchange Board of India (hereinafter referred to as SEBI) conducted investigations into the buying, selling and dealings in the shares of GTB inter alia under the provisions of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as the Act) read with Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Markets) Regulations, 1995 (hereinafter referred to as the FUTP Regulations).
referred to as the 2003 Regulations) asking them to show cause as to why suitable directions should not be issued against them for the alleged violation of Regulation 4 (b) of the FUTP Regulations.
volumes by aiding and abetting KP entities in parking of shares, creation of artificial market and volumes, building up of concentration in select shares.
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Source: SecMarx — sebi:WTM/GA/115/ISD/12/06. 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.