sebi:WTM/PS/51/IVD/JUN/2016
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Facts / Headnote
Impounding of alleged unlawful gains of Rs. 8,30,99,802/- jointly and severally from the noticees as an interim measure, with directions to banks and depositories to freeze accounts and to provide asset inventories.
Provisions invoked
- s. 11(4)
- s. 19
- s. 12A
- s. 12
Regulations
- Reg. 3
Parties
- Navinya Multitrade Private Limited
- Shreyans Credit and Capital Private Limited
- Betul Minerals and Constructions Private Limited
- Aventis Biofeeds Private Limited
- Betul Oils and Feeds Private Ltd
- Sunmate Trade Private Ltd
- Uni24 Techno Solutions Private Ltd
- Vision
- Moebius
Holding
SEBI's Whole Time Member impounded alleged unlawful gains of Rs. 8,30,99,802/- (Rs. 5,75,68,000 in gains plus Rs. 2,55,31,802 interest at 12% simple interest) jointly and severally from nine connected entities for allegedly manipulating the settlement price of Ruchi Soya futures through 'marking the close' trades in the cash market on September 27, 2012.
Full text
Page 2 of 14 pattern indicated that there was a concerted attempt by the aforesaid connected entities to artificially manipulate the settlement price and make unlawful gains from the long positions held by them in the futures of the scrip. It was alleged that these entities had allegedly violated section 12A of the SEBI Act and regulations 3 and 4 of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 (“the PFUTP Regulations”).
Page 3 of 14 Common phone number ‘9821994534’ with Aventis, Sunmate, Shreyans, Betul Oils and Betul Minerals 2 Aventis AAECA0863E Received funds from Vision Common phone number ‘9821994534’ with Vision, Sunmate, Shreyans, Betul Oils and Betul Minerals 3 Navinya AACCN9662J Received funds from Vision 4 Uni24 AABCU2171N Received funds from Vision Common Director, Nilaykumar Daga with Moebius, Sunmate, Betul Oils and Betul Minerals 5 Moebius AAHCM4176D Received funds from Vision Common Director, Nilaykumar Daga with Uni24, Sunmate, Betul Oils and Betul Minerals
Page 4 of 14 (b) Trading by the suspected entities in NSE (cash market) from 15:00:00 to 15:30:00 on September 27, 2012: The trading activity of the suspected entities during the investigation period, in the scrip of Ruchi Soya is as under:
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Source: SecMarx — sebi:WTM/PS/51/IVD/JUN/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.