sebi:WTM/KV/ISD/ISD-SEC-2/32457/2026-27
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Facts / Headnote
Interim ex-parte order restraining Noticees from buying, selling or dealing in securities of Darjeeling Industriies Limited (DIL) directly or indirectly until further orders; detailed investigation directed to be completed expeditiously; Noticees and Surendra Jain given 21 days to file reply/objections and indicate desire for personal hearing.
Provisions invoked
- s. 11B
- s. 11
- s. 19
- s. 12A
- s. 12
- s. 11A
- s. 28A
- s. 29
- s. 26A
Regulations
- Reg. 4
- Reg. 3
- Reg. 2(1)(c)
- Reg. 200
- Reg. 2
- Reg. 3(a)
- Reg. 30(6)
Parties
- Ashok Dilipkumar Jain
- Viha Ashok Jain
- Premaram Jaitaram Patel
- Pradeep Sutodiya
- Pranav Vajani
- Punyah Sachin Jain
- Kirti Ravi Kothari
- Sonali Abhaykumar Parmar
- Kalidas Vijay Magar
- Joy Banerjee
- Abhishek Prakash Jain
- Dilip Keshrimal Sanklecha
Holding
The WTM of SEBI held that a prima facie case of fraudulent and unfair trade practices and price/volume manipulation in the scrip of Darjeeling Industriies Limited was made out against the Noticees, and accordingly restrained them from buying, selling or dealing in securities of DIL, directly or indirectly, until further orders.
Full text
Ex-Parte Interim Order in the matter of Ashok Dilipkumar Jain and Others Page 2 of 62 TABLE OF CONTENTS A. Background ................................................................................................................................. 3 B. Summary of the instant matter ............................................................................................... 5
Ex-Parte Interim Order in the matter of Ashok Dilipkumar Jain and Others Page 3 of 62 A. Background 1. Securities and Exchange Board of India (hereinafter referred to as “SEBI”) while examining evidence in an ongoing investigation found some incriminating material related to prima facie suspected price and volume manipulation in the scrip of Darjeeling Industriies Limited, erstwhile Darjeeling Ropeway Company Limited (hereinafter referred to as “DIL/Company).
Ex-Parte Interim Order in the matter of Ashok Dilipkumar Jain and Others Page 4 of 62 Table 1 S. No. Board of Directors Designation 1 Mr. Ashok Dilipkumar Jain Managing Director 2 Ms. Viha Ashok Jain Non-Executive and Non-Independent Director 3 Mr. Premaram Jaitaram Patel Non-Executive and Independent Director 4 Mr. Pradeep Sutodiya Non-Executive and Independent Director 5 Mr. Pranav Vajani Non-Executive and Independent Director
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Source: SecMarx — sebi:WTM/KV/ISD/ISD-SEC-2/32457/2026-27. 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.