sebi:WTM/SM/IVD/ID11/15645/2021-22
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violations established; Noticees restrained from securities market for 6 months to 1 year and Noticees no. 2, 6 and 8 directed to disgorge wrongful gains with 12% interest.
Provisions invoked
- s. 11B
- s. 11
- s. 11(4)
- s. 19
- s. 11(1)
- s. 12A
Regulations
- Reg. 3
- Reg. 4
- Reg. 4(1)
- Reg. 4(2)
- Reg. 200
- Reg. 3(a)
Holding
Noticees 1 to 11 violated Section 12A(a), (b), (c) of SEBI Act, 1992 and Regulations 3(a)-(d) and 4(1), 4(2)(b) of PFUTP Regulations, 2003 by concerted manipulation of JDL scrip, and were restrained from the securities market while preferential allottees Noticees 2, 6 and 8 were directed to disgorge Rs.13,50,000, Rs.73,53,900 and Rs.66,83,000 respectively with 12% p.a. interest from July 2016.
Full text
Order in the matter of Jaisukh Dealers Limited Page 1 of 51 WTM/SM/ IVD/ID11/15645/ 2021-22 BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA CORAM: S K MOHANTY, WHOLE TIME MEMBER
Order in the matter of Jaisukh Dealers Limited Page 2 of 51 Background 1. An investigation was conducted by Securities and Exchange Board of India (for convenience “SEBI”) into the trading activities in the scrip of Jaisukh Dealers Limited (for convenience “JDL / Company”) for the period of February 11, 2014 to July 05, 2016 (for convenience “Investigation Period”) for possible violation, if any, of the provisions of Securities and Exchange Board of India Act, 1992 (for convenience “SEBI Act, 1992”) and rules and regulations made thereunder.
Order in the matter of Jaisukh Dealers Limited Page 3 of 51 Table no. 1: Price-Volume movement in scrip of JDL Period Date Price/ Volume Opening Price/ volume on first trade day of the period Closing price / volume on last trade 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 traded quantity Pre Investiga tion period Not listed
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Source: SecMarx — sebi:WTM/SM/IVD/ID11/15645/2021-22. 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.