sebi:WTM/RKA/ISD/100/2016
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Facts / Headnote
Revoked ad-interim ex-parte directions against 9 noticees who purchased only in Patch 1 or were only on sell side in Patch 2; continued interim directions/restraints against other 70 noticees pending further directions/investigation, with limited relaxations for personal/business exigencies.
Provisions invoked
- s. 11B
- s. 11
- s. 11(4)
- s. 19
- s. 11(1)
- s. 12A
- s. 12
- s. 11(2)
- s. 2(1)
- s. 20
- s. 112
- s. 45(2)
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 2
- Reg. 3(a)
Holding
The prima facie findings of misuse of preferential allotment and stock exchange system to generate fictitious long term capital gains were continued against 70 noticees, while interim directions were revoked against 9 noticees whose trades were only in Patch 1 when preferential shares were locked-in or were only sales in Patch 2.
Full text
` Order in the matter of Moryo Industries Limited Page 2 of 68 26. Ms. Geetaben S. Joshi AAJPJ8345A (Advocates) 27. Mr. Naresh B. Khatar AGYPK5408L Mr. Ankit Lohiya and Mr. Amit Dey (Advocates) 28. Mr. Vijay Hasmukrai Bhayani AAEPB8868P Mr. Ramesh Mishra (Advocate) 29. Mr. Sachin Gokuldas Mehta AACPM6569J Mr. Sachin Gokuldas Mehta, Mr. Ramesh Mishra (Advocate) and Mr. Loknath Mishra (Advocate) 30. Mr.Chintan Narendra Shah AKIPS1272J Mr. Ramesh Mishra 31. Ms. Dipani Chintan Shah AMVPS8322G
` Order in the matter of Moryo Industries Limited Page 3 of 68 52. Mr. Jayesh Popatlal Shah AAGPS4118M Sanjay Udeshi & Co. 53. Mr. Kalpana Jayesh Shah ABDPS8106P 54. Mr. Nirav Anil Shah AAIPS1195G Dave & Girish & Co. 55. Mr. Anisha Nirav Shah
` Order in the matter of Moryo Industries Limited Page 4 of 68 79. Helpful Investment Advisory Private Limited AACCH4303G Did Not Appear
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Source: SecMarx — sebi:WTM/RKA/ISD/100/2016. 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.