sebi:WTM/MPB/IVD-ID8/161/2018
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Facts / Headnote
Proceedings disposed of; interim and confirmatory directions against all 59 entities vacated; Adjudication Proceedings to continue against 57 entities (S. No. 1 to 57), with action against S. No. 57 deferred to subsequent phases and no adverse finding against S. No. 58 and 59.
Provisions invoked
- s. 19
- s. 15H
Regulations
- Reg. 3(a)
Holding
The interim directions issued against all 59 entities vide Interim Order dated August 20, 2015 and confirmed vide Confirmatory Orders dated July 30, 2016 and August 22, 2016 are disposed of without any further directions, and Adjudication Proceedings are directed to continue against the 57 entities (S. No. 1 to 57) as the appropriate enforcement mechanism.
Full text
Order in the matter of Illiquid Stock Options Page 2 of 9 S. No. Name PAN 3 Bharat Jayantilal Patel AAAPP6652R 4 Quest Partners AAAFQ3174B 5 Gajanan Enterprises AAKFG7595A 6 Kundan Rice Mills Limited AAACK7098P 7 J B Overseas AAIFJ6651J 8 Raghav Commodities AARFR1409D 9 Woodland Retails Pvt. Ltd. AABCW1644A 10 Jaideep Halwasiya AAWPH1706L 11 Kundan Care Products Limited AACCK4743R 12 Anand Mining Corporation AAGFA0187Q 13 Mahakaleshwar Mines & Metals Pvt. Ltd. AAHCM1276E 14 Anantnath Vincom Pvt. Ltd. AAKCA2146A 15 Pasha Finance Pvt Ltd AAACP8316P 16 Xion Gems &Jewellers Pvt. Ltd. AAFCA5667D 17 Ashok Kumar Damani ACXPD6089R 18 Vinay Ramanlal Shah Huf AABHV9007P 19 Swaran Financial Pvt. Ltd. AAECS4024R 20 Vitrag Rajendrakumar Sheth BSUPS7339K 21 Savitri Sons AANFS6992C 22 Gyandeep Khemka AGBPK0640F 23 Gandiv Investment Pvt. Ltd. AACCG3017C 24 Rashi Commercial Company AAAFR1026K 25 Priyasha Meven Finance Ltd. AADCP2042F 26 Open Futures And Derivatives Pvt. Ltd AABCO1139Q 27 Pragya Commodities Pvt. Ltd. AABCP5764C 28 Nouvelle Advisory Services Pvt. Ltd. AADCN1774A 29 GCK Stock Private Limited AAACA5560C 30 Om Sales Corporation AARPY4343F 31 Prompt Commodities Ltd AADCP1910G 32 Gurmeet Singh AAQPS9561E 33 N M Impex Pvt. Ltd. AABCN0541M 34 Vision Sponge Iron Pvt. Ltd. AABCV4791R 35 Umang Nemani ABOPN7213K 36 Vsp Udyog Pvt. Ltd. AABCV6318G 37 Shir Commodities & Futures (P) Ltd. AAACU7902J 38 Jai Annanya Investments Pvt. Ltd. AABCG0769Q 39 Sureshine VintradePvt Ltd AAUCS1804K 40 Moti
Order in the matter of Illiquid Stock Options Page 3 of 9 S. No. Name PAN 44 Avijit Saha DCIPS3813Q 45 Ketan Ramanlal Shah Huf AACHK9724K 46 Steel Crackers Pvt. Ltd. AADCS6663F 47 Prime Gold International Ltd. AACCK3755F 48 Raj Ratan Smelters Pvt Ltd AADCR8689N 49 Sourabh H Bora ADIPB7693R 50 Eden Trading Services Pvt. Ltd. AADEC1272A 51 Mammon Concast Pvt. Ltd. AAGCM5635G 52 Bhawani Ferrous Pvt Ltd AACCB3369A 53 Vsp Steel Pvt Ltd AACCT2881K 54 Panem Steel Pvt. Ltd. AAACP8592R 55 Deepak NatvarlalPankhiyaniHuf AAJHP3250L 56 KirtiRamji Kothari AAEPK3216C 57 Skeet Comsec Trading LLP ACBFS5896B 58 Gee Bee Securities Pvt Ltd AACCG3141P 59 Umesh Malani BDHPM5310A
Order in the matter of Illiquid Stock Options Page 4 of 9 in the matter of Illiquid Stock Options wherein the examination period was considered from April 01, 2014 to September 30, 2015. As directed in the Confirmatory Order, the scope of investigation was enhanced to cover all entities that had indulged in executing reversal trades in BSE’s Stock Options segment during the investigation period. During investigation, entities were shortlisted on the basis of various parameters including reversal of trades with the same counterparty on the same day, the number of units of stock options reversed with the same counterparty may or may not be the same (since partial trade reversals also constitute violations), all entities that had traded on BSE’s Stock Options segment were examined irrespective of the quantum of profit made / loss incurred by them.
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Source: SecMarx — sebi:WTM/MPB/IVD-ID8/161/2018. 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.