sebi:WTM/PS/11/IVD/ID-4/MAY/2011
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Facts / Headnote
Interim directions revoked
Provisions invoked
- s. 19
Parties
- Chimming Trading Company Pvt. Limited
- Mr. Rajendra Kumar Agarwal
- Mr. Ravikant Choudhary
- Mr. Shyam Sunder Shah
Holding
The ad-interim ex-parte directions dated June 04, 2009 and subsequent confirmatory orders against the four noticees were revoked with immediate effect, and the lien on the fixed deposit submitted by Mr. Ravikant Choudhary in favour of SEBI was cancelled.
Full text
Page 2 of 4 Shah from accessing the securities market and further prohibited them from buying, selling or dealing in the securities market, directly or indirectly, till further directions in this regard.
Page 3 of 4 6. Upon completion of the investigation, Chimming Trading Company Pvt. Limited and Mr. Rajendra Kumar Agarwal were found involved in one off- market transaction each in the scrips of Cals Refineries Limited and Bang Overseas Limited respectively. Further, Mr. Ravikant Choudhary, has been found trading in 2,000 shares of Confidence Petroleum India Limited. As regards Mr. Shyam Sunder Shah, I note that he was found involved in only one off-market transaction in the scrip of Bang Overseas Limited. However, on careful scrutiny of the material available on record, there is not enough evidence to suggest that Chimming Trading Company Pvt. Limited, Mr. Rajendra Kumar Agarwal, Mr. Ravikant Choudhary and Mr. Shyam Sunder Shah were involved in manipulation of the five scrips mentioned in the para 1 above.
Page 4 of 4 9. In the light of the above, the lien on the fixed deposit submitted by Mr. Ravikant Choudhary marked in favor of SEBI be revoked/ cancelled.
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Source: SecMarx — sebi:WTM/PS/11/IVD/ID-4/MAY/2011. 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.