sebi:WTM/SM/IVD/ID2/11354/2021-22
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Enquiry proceedings and SCN dated April 11, 2018 disposed of without any further direction; no additional penalty imposed.
Provisions invoked
- s. 11B
- s. 12A
- s. 12
- s. 12(3)
Regulations
- Reg. 3
- Reg. 28(2)
- Reg. 3(a)
- Reg. 28
- Reg. 27
- Reg. 28(1)
- Reg. 24(1)
Parties
- Todi Securities Private Ltd.
Holding
The Noticee, Todi Securities Private Ltd., was found to have violated Section 12A(a), (b) and (c) of the SEBI Act and Regulations 3(a)-(d), 4(1), 4(2)(a), (b) and (e) of the PFUTP Regulations by engaging in fraudulent and unfair trade practices in the scrip of Tijaria Polypipes Ltd. on its listing day. However, the proceedings were disposed of without any further direction, as the Noticee had already been under restraint for approximately 10 months via the interim order.
Full text
Order in respect of Todi Securities Private Ltd. in the matter of Tijaria Polypipes Ltd. Page 1 of 35 WTM/SM/IVD/ID2/11354/2021-22 SECURITIES AND EXCHANGE BOARD OF INDIA
Order in respect of Todi Securities Private Ltd. in the matter of Tijaria Polypipes Ltd. Page 2 of 35 2. After completion of investigation, a proceeding in terms of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008 (hereinafter referred to as ‘Intermediaries Regulations’) was initiated by SEBI against the Noticee, Member, Bombay Stock Exchange (‘BSE’) and National Stock Exchange of India Ltd. (‘NSE’) and a stock broker registered with SEBI. For the said purpose, SEBI, vide an Order dated October 15, 2012, appointed a Designated Authority (hereinafter referred to as ’DA’) under Regulation 24(1) of the Intermediaries Regulations to enquire into the violations alleged to have been committed by the Noticee and to submit a report in accordance with the provisions of the Intermediaries Regulations. Upon completion of the enquiry, an Enquiry Report dated September 29, 2017 was submitted by the DA for consideration and taking appropriate measure by the Designated Member (hereinafter referred to as ’DM’).
Order in respect of Todi Securities Private Ltd. in the matter of Tijaria Polypipes Ltd. Page 3 of 35 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.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:WTM/SM/IVD/ID2/11354/2021-22. 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.