sebi:WTM/KMA/IVD/414/07/2011
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Facts / Headnote
Interim ex-parte directions issued vide the Order dated December 02, 2010 confirmed against Mentor Capital Limited, Ivory Consultants Private Limited, Ashok Finstock Limited, Mr. Sanjay Dangi, Mrs. Alpana Dangi and Mr. Sunil Dangi.
Provisions invoked
- s. 19
Regulations
- Reg. 7
- Reg. 85
Parties
- Mentor Capital Limited
- Ivory Consultants Private Limited
- Ashok Finstock Limited
- Mr. Sanjay Dangi
- Mrs. Alpana Dangi
- Mr. Sunil Dangi
Holding
The Whole Time Member confirmed the interim ex-parte directions issued on December 2, 2010 against Mentor Capital Limited, Ivory Consultants Private Limited, Ashok Finstock Limited, Mr. Sanjay Dangi, Mrs. Alpana Dangi and Mr. Sunil Dangi, in connection with alleged price manipulation in five scrips during FCCB/QIP pricing periods.
Full text
Page 2 of 33 of the said documents from SEBI. Accordingly, hearing was postponed to a later date after the documents are provided to them. The documents were inspected by Mentor Capital Limited, through its authorised representatives M/s Crawford Bayley & Co., Advocates on June 3, 2011 and copies of the documents were also provided as annexures and in a compact disk. Subsequently, further documents, as requested by the said authorised representatives, were also provided vide letter dated June 17,
Page 3 of 33 December 6, 2010, December 10, 2010 and December 27, 2010, after the issuance of the Order (dated December 2, 2010). Pursuant to the hearing, MCL vide letter dated July 4, 2011, inter alia submitted that the said sales were not done by it and that the same were sold by the NBFCs to recover their dues without instruction or knowledge of MCL. Other submissions contained therein were mainly reiteration of certain submissions made by it in its reply dated March 31, 2011.
Page 4 of 33 7. I have considered the written as well as the oral submissions made by the respective parties. The issue for consideration in this Order would be to decide whether the ad-interim ex-parte directions issued vide the said Order against the need to be continued, modified or revoked in the light of their submissions and the
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Source: SecMarx — sebi:WTM/KMA/IVD/414/07/2011. 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.