sebi:WTM/MPB/EFD1-DRA4/107/2020
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Adjudication proceedings initiated against Noticees for alleged violations of PFUTP Regulations; Noticees found connected to Jolly Group and company; adverse inference drawn against Noticees who failed to reply to show cause notices or avail hearing opportunity.
Provisions invoked
- s. 11
- s. 19
- s. 10
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 7
- Reg. 3(a)
- Reg. 2(1)
Holding
The Noticees, as members of the Jolly Group, executed manipulative trades in the scrip of Jolly Plastic Industries Ltd. that created a misleading appearance of trading and contributed significantly to negative LTP, in violation of Regulations 3 and 4 of the PFUTP Regulations.
Full text
Order in the matter of Jolly Plastic Industries Ltd. Page 2 of 45 23. Sure Portfolio Services Pvt Ltd. AATCS2129L 24. Surya Medi Tech Ltd. AALCS3282L 25. Ms. Usha Jaiswal AAFPJ6600A
Order in the matter of Jolly Plastic Industries Ltd. Page 3 of 45 submission of quarterly results and later revoked w.e.f. February 13, 2012. The scrip was suspended from trading as a surveillance measure since January 7, 2015. There are no trades in the scrip from November 28, 2014 onwards.
Order in the matter of Jolly Plastic Industries Ltd. Page 4 of 45 Period Dates Opening Price (volume) on first day of the period (`) Closing price (volume) on last day of the period (`) Low price(volume) during the period (`) High Price(volume ) during the period (`) Avg. no. of (shares) traded daily during the period 09/07/2014 – 27/11/2014 Vol 10,600 42,200 100 (on 11 different trading days) 105500 (20/11/2014) No trading and subsequently scrip suspended on 07/01/2015
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:WTM/MPB/EFD1-DRA4/107/2020. 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.