sebi:WTM/PS/52/IVD/ID-1/OCT/2010
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Facts / Headnote
Charge of violating Securities Contracts (Regulation) Rules, 1957 and Guideline 10 of Guidelines for Disclosure and Investor Protection – Preferential Issues proved against Rajiv Samani; restrained from buying, selling or dealing in securities and from associating in securities market for six months; charges against Panache, Panraj and Jupiter not proved and show cause notices disposed of without directions; proceedings against Ms. Bela Kamdar proceeded ex-parte.
Provisions invoked
- s. 11B
- s. 11(4)
- s. 19
Regulations
- Reg. 4(b)
Parties
- Rajiv Samani
- Panache Securities Pvt. Ltd.
- Panraj Financial Services Pvt. Ltd.
- Ms. Bela Kamdar
- Jupiter Investments
Holding
The charge of violating the provisions of Securities Contracts (Regulation) Rules, 1957 and Guideline 10 of Guidelines for Disclosure and Investor Protection – Preferential Issues stands proved against Rajiv Samani as noticee in his capacity as Chairman & Managing Director of Netvista, and he is restrained from buying, selling or dealing in securities and from associating in the securities market for six months. The charges against Panache, Panraj and Jupiter of aiding and abetting were not proved and they are entitled to benefit of doubt.
Full text
Page 2 of 12 Rajiv Samani. Investigations have revealed that Rajiv Samani had traded in the scrip of Netvista through his associate entities.
Page 3 of 12 misleading appearance of trading in the scrip of Netvista, in violation of Regulation 4(b) of PFUTP Regulations.
Page 4 of 12 record from her for any adjournment. I have seen that sufficient opportunities have already been given to Ms. Bela Kamdar to explain her case. In view of this, I am compelled to proceed with the matter ex-parte, on the basis of material available on record, having complied with the principles of natural justice.
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Source: SecMarx — sebi:WTM/PS/52/IVD/ID-1/OCT/2010. 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.