sebi:WTM/GA/147/ISD/2/07
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Facts / Headnote
Interim ex-parte order restraining promoters, connected persons and Marwah/Nabera group entities from dealing in securities of Atlanta Ltd; restraining the company from issuing equity or convertible instruments or altering capital structure; directing exchanges not to approve listing of convertible warrants or shares on conversion; directing depositories not to dematerialize warrants/shares or give effect to stock split or transfers; objections to be filed within 15 days.
Provisions invoked
- s. 19
- s. 200
- s. 100
- s. 130
- s. 587
- s. 460
- s. 290
- s. 277
Regulations
- Reg. 7
- Reg. 4
- Reg. 3
- Reg. 199
- Reg. 2(1)(c)(9)
Holding
SEBI passed an interim ex-parte order restraining Atlanta Ltd, its promoters, connected persons and entities of the Manish Marwah/Dilip Nabera group from dealing in the company's securities, and restrained the company from issuing further equity or convertible instruments or altering its capital structure, pending further directions.
Full text
Page 2 of 30 BSE to jointly conduct an analysis of trading in the scrip of Atlanta Ltd. The exchanges submitted their preliminary findings in dealings in the scrip of the company for the period from September 25, 2006 to December 12, 2006. The reported indicated that the connected clients of three groups viz. Manish Marwah/Dilip Nabera Group, Atul Shah Group and Nirmal Kotecha Group made large net purchases in the scrip of Atlanta Ltd during this period of price rise. It was also indicated that employees of the company who were allotted shares in IPO had immediately transferred the shares through off-market transactions, including to persons connected with the company.
Page 3 of 30 2.2 Following are the directors of the company: Shri Sachin Jain is a DGM (Legal) and the Company Secretary.
Page 4 of 30 level of monitoring by the RTI is also called in to question. This requires further examination. 2.4 The shareholding of the company prior and post of IPO is as given below.
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Source: SecMarx — sebi:WTM/GA/147/ISD/2/07. 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.