sebi:WTM/GA/53/ISD/2/06
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Pending investigation and passing of final order, directed (a) BLB Ltd to cease and desist from giving investment recommendations in public media violating Regulation 4(2)(f) and 4(2)(r), (b) BLB Ltd to cease and desist from violating clause B(7A) of Code of Conduct, (c) BLB Ltd and Vikram Rathi not to buy, sell or deal in securities of M/s VBC Ferro Alloy Ltd. directly or indirectly till further directions, (d) Depositories not to give effect to any transfer of shares of VBC Ferro Alloy Ltd. in beneficial owner accounts of BLB Ltd and Vikram Rathi.
Provisions invoked
- s. 11B
- s. 19
Regulations
- Reg. 7
- Reg. 4
- Reg. 13
- Reg. 4(2)
- Reg. 4(2)(f)
Parties
- M/s BLB Ltd
- Vikram Rathi
Holding
Pending investigation, SEBI prima facie found BLB Ltd violated PFUTP Regulations, Insider Trading disclosure requirements and Stock Brokers Code of Conduct, and issued ad interim ex-parte cease-and-desist and dealing restraints in VBC Ferro Alloy Ltd. securities.
Full text
Page 2 of 10 2.2 The shares of the company are listed on The BSE Limited (BSE) and the Calcutta Stock Exchange Association Ltd (CSE). The company through its announcements had informed BSE that the securities of the Company was delisted from Madras Stock Exchange Ltd and The Hyderabad Stock Exchange Ltd with effect from December 02, 2004 and April 04, 2005, respectively. 2.3 The shareholding pattern as on December 31, 2005 is given below.
Page 3 of 10 As on December 31, 2005, the total paid up capital of the company was around 40.44 lakhs shares. The promoters and the persons acting in concert were held around 36% of the shares, while BLB held around 6.44% of the total paid up share capital of the company.
Page 4 of 10 The promoters of the BLB hold nearly 67% of the share capital of BLB. Table-C: Holding of Promoters in BLB Name No of Shares Percentage
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:WTM/GA/53/ISD/2/06. 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.