sebi:WTM/RKA/ISD/26/2012
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Facts / Headnote
Ad interim ex-parte order restraining the identified entities from accessing the securities market and prohibiting them from buying, selling or dealing in securities till further directions; investigation to be concluded expeditiously.
Provisions invoked
- s. 19
- s. 12A
Regulations
- Reg. 3
- Reg. 200
Holding
The identified entities are restrained from accessing the securities market and prohibited from buying, selling or dealing in securities till further directions, on a prima facie finding that they artificially manipulated and depressed the prices of four scrips on July 26, 2012.
Full text
Page 2 of 22 Pipavav Defence and Offshore Eng Limited. Parsvnath Developers Limited Tulip Telecom Limited Glodyne Technoserve Limited.
Page 3 of 22 . 4. The trading activity of major clients on the basis of net sell at NSE and BSE on July 26, 2012 (during the price fall period) in aforesaid scrips was analyzed by NSE and BSE, respectively. It was observed that some of these clients were not only common across the above scrips but they also traded on both the exchanges. The top identified clients whose sell volume constituted a significant share of the total sale transactions in those scrips at NSE and BSE during the price fall period are as under:
Page 4 of 22 Exchange Client Name Client PAN Net Sell quantity % to market Net Tulip Telecom Limited NSE Ajit Kumar Jain ACNPJ9264G 200000 25.46 NSE Passion System Solutions Private Limited AAECP3609F 113000 14.39 NSE Gajria Jayna Precision Industries Pvt Ltd AABCG5915E 90000 11.46 BSE Ajit Kumar Jain ACNPJ9264G 90000 28.14 BSE Manish Agarwal APLPA3819B 50000 15.63
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Source: SecMarx — sebi:WTM/RKA/ISD/26/2012. 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.