sebi:WTM/RKA/ISD/74/2013
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Facts / Headnote
Directions issued against the noticee vide ad-interim ex-parte order dated August 03, 2012 revoked
Provisions invoked
- s. 19
Parties
- M/s White Horse Trading Company Pvt Ltd (PAN AAACW8451G)
Holding
The directions issued against M/s White Horse Trading Company Pvt Ltd vide ad-interim ex-parte order dated August 03, 2012 are revoked. The order is without prejudice to any enforcement action SEBI may take on completion of the investigation.
Full text
Page 2 of 3 submissions which was granted. However, the noticee did not file any additional written submissions. 4. The noticee denies all the allegations against it in the interim order. It has submitted that it does not have any relationship with any of the entities mentioned in the interim
Page 3 of 3 the investigation in the matter is going on. It is noted that the noticee has already undergone restraint for five months pursuant to the interim order. A final view with regard to the role of the noticee, if any in the matter, can be taken on the completion of the investigation. In my view, in the facts and circumstances of the case, the balance of convenience is in favour of the noticee. The facts and circumstances of the case relating to the noticee do not suggest any emergent or urgent reasons to continue with the directions issued against the noticee vide the ad interim order at this stage. I am, therefore, of the considered view that the directions issued against the noticee vide the ad interim order need not continue during the continuance of the pending investigation in the matter.
order. It has submitted that it is a regular investor in the scrip Glodyne and on July 26, 2012, it had total 61, 768 shares of Glodyne in its account. On July 26, 2012, it has traded only in the scrip of Glodyne and had sold 4064 shares on NSE and 1142 shares on BSE during the identified price fall patch. The trades were executed between the price range of ` 337.30 and ` 330.10 per share. Those trades from its account have not led to price deflation in the scrip and they were not put at the lowest circuit level price.
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Source: SecMarx — sebi:WTM/RKA/ISD/74/2013. 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.