sebi:WTM/PS/47/IVD/JUNE/2016
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Alleged unlawful gains of Rs. 12,54,84,118 impounded jointly and severally from the 52 persons/entities; bank and demat accounts frozen; assets to be disclosed and not alienated; funds to be transferred to escrow account; noticees given 21 days to reply and seek personal hearing.
Provisions invoked
- s. 11(4)
- s. 19
Regulations
- Reg. 3(a)
Holding
The Company, its promoter, its directors and 44 other connected entities are prima facie found to have devised a manipulative scheme by issuing positive corporate announcements without intention to implement them and by establishing new high prices through first trades, making alleged unlawful gains of Rs. 12,54,84,118 (Rs. 7,86,21,436 gains plus Rs. 4,68,62,682 interest). As an interim measure, the WTM impounded these alleged gains jointly and severally and froze the bank and demat accounts of the 52 persons/entities.
Full text
Page 2 of 22 32 Mr. Amrit L. Gandhi AACPG5265H 33 Mr. Bhavnaben N. Mistry ALIPM5347B 34 Mr. Yentrapati Ravi ABWPY6767F 35 Ms. Parul Anupam Khanna BCUPK8420R 36 Mr. Hiten P. Shah AHAPS0889A 37 Ms. Parvathaneni Mounisha BAOPP1399G 38 Ms. Swapna Sri Tummala ALDPT7720Q 39 Mr. Satya S. Jonnavithula ACRPJ9665R 40 Mr. Piyush Naresh Kothari AEOPK1882L 41 Mr. Nrupini Jayesh Mehta BDTPM2261E 42 Mr. Mahendra Bhikaji Chile AHNPC8127G 43 Mr. Elubandi Satyanarayana DGCPS7022F 44 Mr. Rama Krishna Makkena BCKPK1101P 45 Ms. Anitha Yarlagadda ACAPY5774B 46 Ms. Salma Sharafat Khan BVSPK9348F 47 Ms. Seema Gandhi AAEPG0960B 48 Mr. Ronak Ashwin Choksi ADDPC2938D 49 Mr. Veerabhadra D. ABVPD6656R 50 Mr. Divyesh Harish Surana DALPS0578H 51 Mr. Jayesh H. Mehta AIFPM2216D 52 Mr. Shivcharan S. Kashyap ATOPK6636K
Page 3 of 22 3. The investigation alleged that the Company, its promoter (Cementex India Pvt. Limited), its 6 directors and 44 other entities (hereinafter collectively referred to as ‘group/ connected entities’) were prima facie connected to each other. The details of their connections as found in the investigation are as under: TABLE - A S.No. Name Connection with Exelon / other entities of Group 1 Exelon Company 2 Cementex (India) Pvt. Ltd. (Cementex)
Page 4 of 22 19 Veerabhadra Rao Dandamudi - He had off-market transfers with entities at S.no. 11 and 18. - He shares same e-mail ID i.e. vsrik2000@yahoo.com with entities at S.no. 2, 9 and 13. - He had banking transactions with entity at S.no. 9. 20 Elubandi Satyanarayana He had off-market connections with entity at S.no. 17. 21 Yentrapati Ravi He had off-market connections with entity at S.no. 17. 22 Dimple Pankaj Desai - She had off-market connections with entity at S.no. 8 prior to the investigation period, - She had off-market connections with one I.K. Projects Pvt. Ltd. in which the entities at S.no. 8, 11 and 12 were the directors. 23 Kanta Anantrai Desai - She had off-market connections with entity at S.no. 8 prior to the investigation period. - She had off-market connections with one I.K. Projects Pvt. Ltd. in which entities at S.no. 8, 11 and 12 were the directors. 24 Sneha Pankaj Desai - She had off-market connections with entity at S.no. 25. - She had off-market connections with one I.K. Projects Pvt. Ltd. in which entities at S.no. 8, 11 and 12 were the directors. 25 Anjali Tukaram Sogam She had off-market connections with entity at S.no. 24. 26 Gudimetla H. Sunder He had off-market connections with one I.K. Projects Pvt. Ltd. in which entities at S.no. 8, 11 and 12 were the directors. 27 Shivcharan Shreedhar Kashyap - He had off-market transfers with entities at S.no. 10, 12 and 32. - In KYC documents submitted at TM Sanghavi, his introducer is Kamlesh Maisheri,
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:WTM/PS/47/IVD/JUNE/2016. 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.