sebi:WTM/SKM/EFD1-DRA2/29/2019
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Facts / Headnote
Restrained Noticees 1, 2, 3, 6, 7 and 8 from accessing the securities market and from buying, selling or otherwise dealing in securities for a period of two years; proceedings against Noticees 4 and 5 held infructuous.
Provisions invoked
- s. 11
- s. 19
- s. 12
- s. 13
- s. 16
- s. 18
- s. 29A
- s. 17
Regulations
- Reg. 3
- Reg. 4
- Reg. 4(1)
Parties
- Chetan Dogra
- Chetan Dogra HUF
- Daffodil Tradex Private Limited
- Shraddha Entertainment Private Limited
- Subah Multimedia Private Limited
- Tulip Expotrade Private Limited
Holding
The Noticees were found to have violated Section 16 of the SCR Act, 1956 through off-market transfers of VSL shares without payment of consideration within the stipulated time, and Noticees 1 and 2 were found to have violated Section 12A(a)(b)(c) of the SEBI Act read with Regulations 3 and 4 of the PFUTP Regulations by executing self-trades to create artificial volumes in VSL and DMCIL.
Full text
Order in the matter of Vertex Spinning Limited and DMC International Limited Page 2 of 18 2. During the course of investigation, the price volume data the scrip of VSL and DMCIL were analyzed. Price volume information of the scrip VSL and DMCIL during pre-Investigation Period, Investigation Period & post Investigation Period are under: Table No. 1 In the scrip of VSL Period Date Price / Volume Opening Price(Volume) on the first day of the period Closing Price(Volume) on the last day of the period Low Price (Volume) during the period High Price (Volume) during the period Avg. No. of shares traded daily during the period (Total) Before Investigation 04 Jan 2010 To March 31, 2010 Price 3.6 3.18 2.75 (19.02.2010) 4.34 (11.03.2010)
Order in the matter of Vertex Spinning Limited and DMC International Limited Page 3 of 18 Investigation Period April 01, 2010 to Sep 30, 2010 Price 17.60 11.40 8.69 (17.06.2010) 22.00 (30.04.2010) 5,17,883 Volume 1,18,664 61,624 5032 (21.06.2010) 5144689 (17.06.2010) After Investigation Period Oct 01, 2010 to Dec 31, 2010 Price 11.15 16.10 10.56 (01.10.2010) 26.70 (12.11.2010) 3,86,217
Order in the matter of Vertex Spinning Limited and DMC International Limited Page 4 of 18 Chetan Dogra HUF 2351210 3.55 Chetan Dogra HUF 2346004 3.54 Atul Mittal 1809000 2.73 Mahender Singh 2034994 3.07 Mahender Singh 1759032 2.65 Atul Mittal 1909150 2.88 Shark Communications Pvt Ltd 1722546 2.60 Shark Communications Pvt Ltd 1766913 2.67 Chetan Dogra 1086839 1.64 Chetan Dogra 1365946 2.06 Top 10 Buy clients 26930683 40.63 Top 10 Sell clients 27640898 41.70 Remaining Buy Clients 39358403 59.37 Remaining Sell Clients 38648188 58.30 Total Traded Volume 66289086 100.00 Total Traded Volume 66289086 100.00
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Source: SecMarx — sebi:WTM/SKM/EFD1-DRA2/29/2019. 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.