sebi:WTM/MPB/EFD-1-DRA-4/91/2020
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Facts / Headnote
Violation of PFUTP Regulations upheld against DPK, Caps, AJC, Shivam and Supreme with disgorgement plus reduced interest; allegations against Peeyush Agarwal, Omkam and Shailja held not established and no disgorgement against them.
Provisions invoked
- s. 11B
- s. 11
- s. 11(4)
- s. 19
- s. 11(1)
- s. 12A
- s. 12
- s. 11C
Regulations
- Reg. 4
- Reg. 3
- Reg. 2(1)(c)
- Reg. 3(a)
- Reg. 17
- Reg. 44
Parties
- DPK Stock and Securities
- Shivam Investments
- Caps Finstock Services Pvt. Limited
- Peeyush Agarwal
- AJC Securities & Fin Pvt. Limited
- Supreme Lease Finvest Pvt. Limited
- Shailja Investments Ltd.
- Kanhai Commodity Intermediaries Pvt. Limited (now Omkam Commodities Private Limited)
Holding
DPK, Caps, AJC, Shivam and Supreme violated Regulations 3(a),(b),(c),(d), 4(1), 4(2)(a),(b),(e)&(g) of PFUTP Regulations by connected, synchronized and inter-se trading that manipulated volume and price in Polar Pharma India Ltd; charges against Peeyush Agarwal, Omkam and Shailja were not established and their gains are not disgorgable.
Full text
Order in the matter of M/s Polar Pharma India Limited Page 2 of 95 Regulations, 2003 (“hereinafter referred to as ‘PFUTP Regulations’). The scrip of the Company was listed on the Bombay Stock Exchange Limited (hereinafter referred to as ‘BSE’), Calcutta Stock Exchange and Bhubaneswar Stock Exchange. However, the scrip was traded at BSE, during the period of investigation.
Order in the matter of M/s Polar Pharma India Limited Page 3 of 95 Sl. No. Name PAN 2 Shivam Investments ABMPK8540Q 3 Caps Finstock Services Pvt. Limited AAACC4192J 4 Peeyush Agarwal AACPA6470C 5 AJC Securities & Fin Pvt. Limited AABCA1253B 6 Supreme Lease Finvest Pvt. Limited AABCS8098J 7 Shailja Investments Limited AAACS3302E 8 Kanhai Commodity Intermediaries Pvt. Limited (Now Known as “Omkam Commodities Private Limited ”) AACCK3363K
Order in the matter of M/s Polar Pharma India Limited Page 4 of 95 16. The above directions shall come into force with immediate effect. ………”
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Source: SecMarx — sebi:WTM/MPB/EFD-1-DRA-4/91/2020. 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.