sebi:WTM/PS/57/IVD/JUN/2016
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Facts / Headnote
Ad-interim ex-parte order impounding alleged unlawful gains of Rs. 27,44,34,765/- (Rs. 18,99,43,661/- gains + Rs. 8,44,91,104/- interest) jointly or severally from the noticees; bank and demat accounts frozen; assets not to be disposed of; inventory to be provided within 7 days; replies within 21 days.
Provisions invoked
- s. 11(4)
- s. 19
Regulations
- Reg. 3
Holding
SEBI, acting as an interim measure under section 11(4)(d) of the SEBI Act, 1992, impounded alleged unlawful gains of Rs. 27,44,34,765/- (gains of Rs. 18,99,43,661/- plus interest of Rs. 8,44,91,104/-) jointly and severally from the noticees, and froze their bank and demat accounts pending adjudication on merits.
Full text
Page 2 of 25 Consultants Private Limited (“Beejay”) and Shri Sudhir Jain (“Sudhir”) from accessing the securities market and further prohibited them from buying, selling or dealing in the securities market, directly or indirectly, till further orders. The directions against Sudhir and Beejay were confirmed vide Confirmatory Order dated January 19, 2010 and the directions against Eversight was confirmed vide Confirmatory Order dated January 25, 2010.
Page 3 of 25 “investigation period”) to ascertain whether there were any violation of the provisions of SEBI Act, 1992 (“SEBI Act”) and Rules and Regulations made thereunder.
Page 4 of 25 Directors a. Shri Sudhir Jain b. Smt Rashmi Jain Shri Sudhir Jain is the brother-in-law of Shri Vicky Kothari, director of Stupendors. Beejay purchased shares of Siddhi Commotrade Pvt Ltd & Corus Marketing Pvt Ltd which share common address (163B, M G Road, 3rd Floor Kolkata – 700 007) & common director (Shri Debasis Mishra) with DDM & DDT Eversight Tradecomm Pvt Ltd
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Source: SecMarx — sebi:WTM/PS/57/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.