sebi:WTM/RKA/EFD-DRA-II/43/2015
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Facts / Headnote
9 noticees restrained from accessing the securities market and prohibited from buying, selling or otherwise dealing in securities for 5 years with set-off for period already undergone under interim order dated February 02, 2011; proceedings against Mr. Kishore Chauhan abated due to death on May 29, 2013
Provisions invoked
- s. 11B
- s. 11(4)
- s. 19
Regulations
- Reg. 4
- Reg. 11
- Reg. 3
- Reg. 3(a)
Parties
- Mr. Bhavesh Pabari
- Mr. Bipin Jayant Thaker
- Mr. Kishore Chauhan
- Mr. Prem Mohanlal Parikh
- Mr. Hemant Madhusudan Seth
- Ms. Mala Hemant Seth
- Mr. Ankit Sanchaniya
- Mr. Bhupesh Rathod
- Mr. Bipinkumar Gandhi
- Mr. Bharat Shantilal Thakkar
Holding
The 9 surviving noticees violated regulations 3(a),(b),(c),(d), 4(1), 4(2)(a),(b),(e) and (g) of the PFUTP Regulations by synchronized and self-trades and were restrained from the securities market for 5 years; the case against Mr. Kishore Chauhan abated on his death.
Full text
In the matter of dealings in the shares of Goldstone Technologies Limited Page 2 of 19 3. In view of the above, in order to protect the interests of investors and to preserve the safety and integrity of the market, SEBI passed an interim order dated February 02, 2011 (“interim order”) restraining 39 persons/entities including Mr. Bhavesh Pabari, Mr. Bipin Jayant Thaker, Mr. Kishore Chauhan, Mr. Prem Mohanlal Parikh, Mr. Hemant Madhusudan Seth, Ms. Mala Hemant Seth, Mr. Ankit Sanchaniya, Mr. Bhupesh Rathod, Mr. Bipinkumar Gandhi and Mr. Bharat Shantilal Thakkar from accessing the securities market and further prohibited them from buying, selling or dealing in securities in any manner whatsoever, till further directions. The said interim order later confirmed by SEBI vide order dated July 08, 2011 (“Confirmatory Order”) but did not deal with the abovementioned 10 entities.
In the matter of dealings in the shares of Goldstone Technologies Limited Page 3 of 19 Joint a/c with entity at sl. no. 9. Business relations with entities at sl. nos. 4, 6, 7, 10, 11, 16, 17.
In the matter of dealings in the shares of Goldstone Technologies Limited Page 4 of 19 11, 16, 17. 11. Hemant Madhusudan Sheth
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Source: SecMarx — sebi:WTM/RKA/EFD-DRA-II/43/2015. 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.