sebi:WTM/MPB/ISD/65/2019
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Facts / Headnote
Confirmed interim directions dated April 27, 2018 against all Noticees except five; revoked interim directions against Tejas Abhirambhai Nathwani, Abhirambhai Nathwani, Dhruvi Trading Company, Dharmendra and Sanchit Goyal pending investigation.
Provisions invoked
- s. 11(4)
- s. 19
- s. 12A
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 4(1)
- Reg. 3(a)
Holding
The interim restraints imposed vide ex-parte order dated April 27, 2018 are confirmed against the Noticees prima facie part of the bulk-SMS manipulation scheme in Kalpa Commercial Limited, and revoked against Tejas Abhirambhai Nathwani, Abhirambhai Nathwani, Dhruvi Trading Company, Dharmendra and Sanchit Goyal at this stage.
Full text
Order in the matter of Kalpa Commercial Limited Page 2 of 84 Sl. No. NAME PAN 12. HETALBEN CHANDRAKANT DHRUV AXOPD4957E 13. KRISHAN KUMAR AKQPK9894C
Order in the matter of Kalpa Commercial Limited Page 3 of 84 Background: 1. Kalpa Commercial Limited (“KCL”) is a public company incorporated on December 12, 1985 and its shares got listed on Bombay Stock Exchange Limited (“BSE”) on March 18, 2015.
Order in the matter of Kalpa Commercial Limited Page 4 of 84 (a) (b) and (c) of the SEBI Act, 1992 (hereinafter referred to as ‘‘SEBI Act’’) and regulation 3 (a), (b), (c) and (d) and regulation 4(1) and 4(2) (f) and (r) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003(hereinafter referred to as ‘‘PFUTP Regulations’’).
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Source: SecMarx — sebi:WTM/MPB/ISD/65/2019. 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.