sebi:WTM/RKA/ISD/05/2013
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Ad-interim ex-parte order restraining the nine connected entities from accessing the securities market and dealing in securities pending detailed investigation; stock exchanges and depositories directed to enforce the directions.
Provisions invoked
- s. 19
- s. 12A
Regulations
- Reg. 3
Holding
The nine connected entities prima facie violated Section 12A of the SEBI Act, 1992 and Regulations 3 and 4 of the SEBI (PFUTP) Regulations, 2003 by indulging in 'marking the close' to manipulate the closing price of Ruchi Soya in the cash market on the expiry day. Pending detailed investigation, the entities are restrained from accessing the securities market and dealing in securities.
Full text
approximately 25 lac sh trading was approximat for during the last 3 m during last 3 months wa 27, 2012 was around minutes) volume graph The intra-day Volu Price volume data of following Table-1: Opening price on the t Price at 15:00:00 (₹) Price at 15:27:00 (₹) Closing price of the tra Total traded volume d Total traded volume d Total traded volume d % of quantity traded d during the day % of quantity traded d last half hour of the da
Page 3 of 18 and Capital Private Limited, Vision Millennium Exports Pvt Ltd., Navinya Multitrade Private Limited, Uni24 Techno Solutions Private Limited, Betul Minerals & Construction Private Limited and Betul Oils & Feeds Private Limited were found to be heavily trading in the scrip at NSE on the trading day and/or holding significant long position in futures of the scrip as on the expiry day. These nine entities are connected to each other as described in the following Table – 2: Table – 2 The relationships among the aforesaid nine entities Buyer Name (PAN) Counterparty Name (PAN) Remarks (common links) Aventis Biofeeds Pvt Ltd. (AAECA0863E) Vision Millenium Exports Pvt Ltd. (AAACV6970B) • The phone number of Vision Millennium Exports Private Limited and Aventis Biofeeds Pvt Ltd, is same i.e. 9821994534. • Vision Millennium Exports P Ltd and Aventis Biofeeds Pvt Ltd have common address (i.e. 810 Maker Chamber V, Nariman Point, Mumbai) • Huge fund transfers between Vision Millennium Exports Pvt. Ltd. and Aventis Biofeeds Pvt Ltd was noticed. (Refer Table – 3 below) Hence, the buyer, Aventis Biofeeds Pvt Ltd., and counterparty, Vision Millenium Exports Pvt Ltd., are connected. Navinya Multitrade Private Limited (AACCN9662J) • Vision Millennium Exports Pvt Ltd and Rashi Daga, director of Navinya Multitrade P Ltd have common address ( i.e. is 117, 11th Flr. Mittal chambers,, Nariman Point, Mumbai, 400021) • Fund transfers between Vision Millennium Exports Pvt. Ltd. and Navinya
Page 4 of 18 Buyer Name (PAN) Counterparty Name (PAN) Remarks (common links) Hence, Vision Millennium Exports Pvt Ltd, Navinya Multitrade Private Limited and Uni24 Techno Solutions Private Limited are connected. Since Aventis Biofeeds Pvt Ltd., Vision Millennium Exports Pvt Ltd and Navinya Multitrade P Ltd are connected, the buyer, Aventis Biofeeds Pvt Ltd., and counterparty, Uni24 Techno Solutions P Ltd, are also connected. Moebius Credit & Capital Private Limited (AAHCM4176D) Uni24 Techno Solutions Private Limited (AABCU2171N) • Nilaykumar Vinodkumar Daga (Address- Daga House, Kothi Bazar, Betul, Madhya Pradesh) was observed to be director of Uni24 Techno Solutions P Ltd and Moebius Credit & Capital P Ltd Hence, the buyer, Moebius Credit & Capital P Ltd and counterparty, Uni24 Techno Solutions P Ltd, are connected. Navinya Multitrade Private Limited (AACCN9662J) • Nilaykumar Vinodkumar Daga (director of Mobeus Credit & Capital P Ltd) and Deepali Daga (director of Navinya Multitrade P Ltd) have common address. (Daga House, Kothi Bazar, Betul, Madhya Pradesh) Hence, the buyer, Moebius Credit & Capital P Ltd and counterparty, Navinya Multitrade P Ltd, are connected. Vision Millenium Exports Pvt Ltd. (AAACV6970B) • Huge fund transfers between Vision Millennium Exports Pvt. Ltd. and Moebius Credit & Capital Private Limited was noticed. (Refer Table – 3 below) • As mentioned above, Vision Millennium Exports Pvt Ltd, Navinya Multitrade P Ltd and Uni24 Techno Solutions P Ltd are co
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Source: SecMarx — sebi:WTM/RKA/ISD/05/2013. 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.