sebi:WTM/GA/69/ISD/05/06
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Facts / Headnote
DP Account No. 10069837 with IBSL held prima facie suspect; Ajay Kumar Gupta directed not to operate the said account, except permitted to operate for the limited purpose of transfer of securities on account of sale transactions only, with immediate effect and without foreclosing further action.
Provisions invoked
- s. 19
Parties
- Ajay Kumar Gupta
Holding
On a prima facie view, DP Account No. 10069837 with Indiabulls Securities Ltd is suspect and Ajay Kumar Gupta shall not operate it, save that he is permitted to operate it for the limited purpose of transfer of securities on account of sale transactions only.
Full text
Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ In the matter of IPO Investigations - Ajay Kumar Gupta May 31, 2006 | Orders : Orders of Chairman/Members SECURITIES AND EXCHANGE BOARD OF INDIA CORAM: G.ANANTHARAMAN, WHOLE TIME MEMBER 15257 24 9 1. 2. 3. 4. 5. 6. 7. 1
3.2.1. AKG is a small time investor and his financial condition is not sound. AKG does not fit into any of the three categories of persons mentioned in the order. 3.2.2. Further, he adverted to the written submissions of May 09, 2006 and inter-alia clarified as follows: 3.2.2.1. That upon allotment of 17 shares of TCS, these shares were credited to his demat account on August 21, 2004. Upon his express instruction, these shares were transferred from his demat account to the client margin account of IBSL on August 26, 2004, since he wanted to sell the shares. However, since TCS scrip price remained below his expectations during the day, he did not sell the shares and instructed IBSL to transfer them back to his demat account. 3.2.2.2. Subsequently on September 14, 2004, AKG instructed IBSL to transfer the 17 shares to the client margin account and sold the aforesaid shares of TCS on the same day @ Rs. 1013/- per share, thereby making a profit of Rs. 2771/-. 3.2.2.3. The reply dated May 9, 2006 contains inter-alia the following declarations: 3.2.3. In the course of hearing additional details were called from AKG by May 18, 2006. On May 18, 2006, AKG sought two days time to furnish the said details. 3.2.4. Subsequently on May 22, 2006, AKG filed written submissions vide his letter dated May 18, 2006 purporting to furnish the details called for on May 17, 2006. The details furnished are as under: 3.2.4.1. Details of shares in his DP account No. 10069837 with Indiabulls Securities
VLS FINANCE LIMITED 200 5,160 - - 5,160 PETRONET LNG LIMITED - - 200 4,670 4,670 ACE(INDIA)LTD - - 300 4,638 4,638 ARIHANT CAPITAL MARKETS LTD. - - 500 4,425 4,425 GENUS COMMU-TRADE LTD. 1,000 1,720 1,000 2,465 4,185 NAGREEKA EXPORTS LTD. - - 100 4,100 4,100 MAWANA SUGARS PP RS.6.5 - - 100 3,650 3,650 BHARTIYA INTERNATIONAL LTD. - - 100 3,455 3,455 ASHIANA HOUSING & FINANCE LTD - - 200 3,155 3,155 DB (INT) STOCK BROKERS LTD - - 100 2,800 2,800 KEYNOTE CORP. SERVICES LTD. 300 1,290 300 1,370 2,660 PNB GILTS LIMITED 100 2,245 - - 2,245 MOUNT SHIVALIK INDUSTRIES LTD. - - 100 2,230 2,230 BIRLA VXL LTD. - - 280 2,016 2,016 NOIDA MEDICARE CENTRE LTD. - - 100 1,920 1,920 TAINWALA POLY CONTAINERS LTD - - 100 1,835 1,835 MUTHOOT CAPITAL SERVICES LIMITED - - 100 1,175 1,175 SIEL SUGAR LTD - - 12 293 293 DCM SHRIRAM INDUSTRIES LTD. - - 7 250 250 OSWAL CHEMICALS & FERTILIZERS LTD - - 50 208 208 DCM LTD. - - 7 99 99 HERDILLIA UNIMERS LTD - - 25 62 62 SIEL LTD - - 4 42 42 TOTAL
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Source: SecMarx — sebi:WTM/GA/69/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.