sebi:WTM/GA/67/ISD/05/06
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Facts / Headnote
Interim directions against MESL dated April 27, 2006 discontinued; no need to continue interim directions against MESL.
Provisions invoked
- s. 19
Parties
- Magnum Equity Services Limited
Holding
The interim directions issued against Magnum Equity Services Limited (MESL) in the ad interim ex-parte order dated April 27, 2006 are discontinued, as MESL prima facie acted only as a broker for Dushyant N Dalal and not as a financier or beneficiary of the shares cornered by Purshottam Budhwani.
Full text
Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ In the Matter of IPO Investigations Magnum Equity Services Limited May 26, 2006 | Orders : Orders of Chairman/Members SECURITIES AND EXCHANGE BOARD OF INDIA CORAM: G.ANANTHARAMAN, WHOLE TIME MEMBER IN THE MATTER OF IPO INVESTIGATIONS 15260 24 9 1. 2. 3. 4. 5. 6. 7. 1
Shoppers Stop (Incorrectly mentioned in the ex-arte interim ORDER (UNDER SECTIONS 11 AND 11B OF SEBI ACT, 1992) 1.1 By an ad interim ex-parte order dated April 27, 2006 (hereinafter referred to as the ‘order’) under section 19 read with sections 11, 11b and 11(4) of the Securities and Exchange Board of India Act, 1992 and section 19 of the Depositories Act, 1996 pending enquiry and passing final Order, certain interim
1.2 Magnum Equity Services Ltd. (MESL), a member of National Stock Exchange, was prima facie identified as one of the financiers of the master account holders and an ultimate beneficiary of the shares cornered by the key operators in various IPOs during the years 2003 to 2005. Pursuant to these
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Source: SecMarx — sebi:WTM/GA/67/ISD/05/06. 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.