sebi:WTM/SM/IVD/ID2/11353/2021-22
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Facts / Headnote
Proceedings disposed of without any further measure being taken against the Noticee, in view of the restraint already undergone under the interim order dated December 28, 2011 (revoked November 02, 2012).
Provisions invoked
- s. 11B
- s. 12A
- s. 12(3)
Regulations
- Reg. 3
- Reg. 28(2)
- Reg. 3(a)
- Reg. 28
- Reg. 25
- Reg. 27
- Reg. 28(1)
- Reg. 24(1)
Parties
- Salasar Stock Broking Ltd.
Holding
The Noticee was found to have indulged in fraudulent and unfair trade practices, including providing exit to QIBs at a premium and entering into synchronized trades, in contravention of Section 12A of the SEBI Act read with PFUTP Regulations. However, no further directions were issued as the Noticee had already undergone restraint for about ten months under the interim order for the same underlying violations.
Full text
Order in respect of Salasar Stock Broking Ltd. in the matter of Tijaria Polypipes Ltd. Page 1 of 41 WTM/SM/IVD/ID2/11353/2021-22 SECURITIES AND EXCHANGE BOARD OF INDIA
Order in respect of Salasar Stock Broking Ltd. in the matter of Tijaria Polypipes Ltd. Page 2 of 41 further orders. The said directions issued to the Noticee were revoked by SEBI vide Order dated November 02, 2012.
Order in respect of Salasar Stock Broking Ltd. in the matter of Tijaria Polypipes Ltd. Page 3 of 41 the IPO of the scrip of TPL, has facilitated the QIBs exit from the scrip of TPL at a premium to the issue price. At the same time, DA has further noted that the allegation of funding of the Noticee by TPL to bail out the Noticee from the losses suffered by it on account of its trading on the listing day was not established.
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Source: SecMarx — sebi:WTM/SM/IVD/ID2/11353/2021-22. 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.