sebi:WTM/MPB/EFD1-DRA4/46/2019
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Facts / Headnote
Restrained nine Noticees from accessing the securities market for seven years and prohibited them from buying, selling or otherwise dealing in securities for seven years; existing holdings frozen.
Provisions invoked
- s. 11
- s. 19
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 3(a)
Parties
- Radison Properties Private Limited
- Natural Housing Private Limited
- Topwell Properties Private Limited
- South Asia Portfolios Private Limited
- Kingfisher Properties Private Limited
- Janvi Tanvi Share Traders Private Limited
- Safed Sales Private Limited
- Shivkhori Construction Private Limited
- Spice Merchants Private Limited
Holding
The nine Noticees violated Regulations 3(a), (b), (c), (d) and Regulations 4(1), 4(2)(a) and (e) of the PFUTP Regulations by manipulating the price of the scrip of Turbotech Engineering Ltd. through trades with connected entities during October 18, 2012 to June 17, 2013, and were restrained from accessing the securities market for seven years.
Full text
Order in the matter of Turbotech Engineering Ltd. Page 2 of 18 is listed only on BSE Ltd. 2. Securities and Exchange Board of India (hereinafter referred to as “SEBI”) conducted an investigation in the scrip of TEL based on a reference received from the Principal Director of Income Tax (Investigation), Kolkata. The focus of the investigation was to ascertain whether there were any violations of the provisions of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act”) and SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 (hereinafter referred to as “PFUTP Regulations”) by certain entities in the scrip of TEL during the period October 18, 2012 to January 07, 2015 (hereinafter referred to as “Investigation Period”).
Order in the matter of Turbotech Engineering Ltd. Page 3 of 18 Post IP The scrip has not traded since Jan 07, 2015 and is currently under suspension.
Order in the matter of Turbotech Engineering Ltd. Page 4 of 18 9 Shankheshwar Metals Pvt.Ltd 52.05 499 11 52.05 212 5 0.00 0 0 287 6 1.04 10 Safed Sales Private Limited 46.65 8279 17 46.65 3659 10 0.00 0 0 4620 7 0.93 Total Of Top 10 Entities 972.55 3517560 3790 1431.75 609600 458 -459.20 406342 237 2501618 3095 28.65 Total Of Mkt 464.90 11595228 11623 4996.30 2229668 1530 - 4531.40 2098037 1390 7267523 8703 100
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Source: SecMarx — sebi:WTM/MPB/EFD1-DRA4/46/2019. 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.