sebi:WTM/PS/16/IVD/ID-10/JUNE/2014
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Facts / Headnote
Interim directions issued vide Order dated August 03, 2012 against eight persons/entities vacated with immediate effect; benefit of doubt afforded and no further action called for.
Provisions invoked
- s. 19
Parties
- Mr. Ajit Kumar Jain
- Cheminare Trade Comm Private Limited
- Mr. Umang Nemani
- Gajria Jayna Precision Industries Private Limited
- Kuvam Plast Private Limited
- Passion System Solution Private Limited
- Ramkripa Securities Private Limited
- Mr. Manish Agarwal
Holding
The Whole Time Member vacated the interim directions issued against Mr. Ajit Kumar Jain, Cheminare Trade Comm Private Limited, Mr. Umang Nemani, Gajria Jayna Precision Industries Private Limited, Kuvam Plast Private Limited, Passion System Solution Private Limited, Ramkripa Securities Private Limited and Mr. Manish Agarwal, affording them benefit of doubt as the investigation did not establish anything adverse against them.
Full text
Page 2 of 3 instrumental in pushing the prices of the said scrips down as they were placing sell orders below the best sell price. SEBI conducted a preliminary examination in the said scrips in
Page 3 of 3 Private Limited, Passion System Solution Private Limited, Ramkripa Securities Private Limited and Mr. Manish Agarwal, the investigation could not establish anything adverse.
order to ascertain whether there was violation of the provisions of the SEBI Act, 1992 and SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 in the matter. However, in view of the urgency and to prevent the continuance of such operations, SEBI had, pending investigation and passing of the final
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Source: SecMarx — sebi:WTM/PS/16/IVD/ID-10/JUNE/2014. 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.