sebi:WTM/SM/IVD/ID6/7273/2019-20
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Facts / Headnote
Charges established; all 29 Noticees restrained from accessing the securities market and from buying, selling or otherwise dealing in securities directly or indirectly, or being associated with the securities market in any manner, for a period of 2 years from the date of the order; existing holdings of securities including mutual fund units frozen during the restraint period.
Provisions invoked
- s. 11
- s. 19
Regulations
- Reg. 3
- Reg. 4
- Reg. 4(1)
- Reg. 3(a)
Holding
The Adjudicating Officer held that Noticees 1 to 27 violated Regulations 3(a), (b), (c), (d) and 4(1), 4(2)(a), (e) of the SEBI (PFUTP) Regulations, 2003 by executing manipulative sell trades to artificially inflate the price of the scrip of Dhanleela Investments & Trading Company Ltd., and that Noticee 28 (Narayan Dass Rathi) created the manipulation scheme with Noticee 29 (Devinder Kumar) acting as conduit. All 29 Noticees were restrained from accessing the securities market and dealing in securities for a period of 2 years, with existing holdings frozen.
Full text
Order in the matter of Dhanleela Investments & Trading Company Ltd. (Formerly known as Ratni Investments Company Limited).
Order in the matter of Dhanleela Investments & Trading Company Ltd. (Formerly known as Ratni Investments Company Limited).
Order in the matter of Dhanleela Investments & Trading Company Ltd. (Formerly known as Ratni Investments Company Limited).
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Source: SecMarx — sebi:WTM/SM/IVD/ID6/7273/2019-20. 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.