sebi:WTM/RKA/ISD/65/2016
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Facts / Headnote
Interim directions confirmed against the Noticees; directions issued vide para 50 of the interim order dated June 29, 2015 shall remain in force till further directions.
Provisions invoked
- s. 19
Holding
SEBI confirmed the interim directions issued vide the ad interim ex-parte order dated June 29, 2015 against the 19 Noticees, restraining them from accessing the securities market and from buying, selling or dealing in securities, pending completion of investigation.
Full text
Order in the matter of Four scrips in SME Segment Page 2 of 7 Entertainment Limited (hereinafter referred to as "CNE") and HPC Biosciences Limited (hereinafter referred to as "HPC") [collectively referred to as "the scrips/the companies] listed on the Small and Medium Enterprise (“SME”) Segment of Bombay Stock Exchange Limited ("BSE") during the period from their respective date of listing of the said scrips till December 31, 2014 (hereinafter referred to as "Examination Period"), Securities and Exchange Board of India ("SEBI") undertook a preliminary inquiry in the dealings in the said scrips.
Order in the matter of Four scrips in SME Segment Page 3 of 7 gotten gains into genuine one to avail fictitious long term capital gains. The modus operandi used by these entities is as under:
Order in the matter of Four scrips in SME Segment Page 4 of 7 i) The funds required for purchase of shares by the Trading Group entities had been provided to them through layering of fund transfers from several entities including the entities of the Funding Group.
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Source: SecMarx — sebi:WTM/RKA/ISD/65/2016. 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.