sebi:WTM/KMA/IVD/274/06/2010
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Facts / Headnote
Interim directions issued against VBAPL vide the ad-interim ex-parte order dated June 4, 2009 are confirmed and continued till further directions.
Provisions invoked
- s. 19
Parties
- Venture Business Advisors Private Limited
Holding
The interim directions issued against Venture Business Advisors Private Limited (VBAPL) vide the ad-interim ex-parte order dated June 4, 2009 are confirmed and continued till further directions. The application for a consent order filed by VBAPL was earlier rejected by SEBI.
Full text
Page 2 of 5 2. Thereafter, VBAPL, vide letter dated December 14, 2009 filed an application for a consent order in terms of the SEBI Circular dated April 20, 2007. The said application was rejected by SEBI on consideration of the same, in terms of the aforesaid circular, and the same was communicated to VBAPL, vide letter dated June 4, 2010. The present proceedings has resumed thereafter.
Page 3 of 5 market transfer from VBAPL and that TFL had sold those shares in the market. It also appeared that TFL purchased 4,50,000 shares of TFL on BSE and transferred the shares off-market to VBAPL. The investigation also found that the mobile number (9930290001) of Ms. Surabhi Jain (another ‘connected client’) was registered in the name of Mr. Dayabhai Lad, director of VBAPL. It was therefore inferred that Ms. Surabhi Jain and VBAPL, the two connected clients, had a nexus between them.
Page 4 of 5 director of VBAPL, it was submitted that Ms. Surbhi Jain had moved to Mumbai for her education and being new to Mumbai, Mr. Dayabhai Lad had procured a mobile connection for her using his office address.
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Source: SecMarx — sebi:WTM/KMA/IVD/274/06/2010. 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.