sebi:WTM/SR/SEBI/EFD/63/12/2016
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Representation dated October 7, 2016 disposed of; request for general de-freezing rejected with limited permission to sell shares only to pay disgorgement
Parties
- Rudra Securities & Capital Ltd.
Holding
SEBI rejected the applicant's prayer to de-freeze demat accounts for general use of sale proceeds and held the applicant may sell shares lying in its demat accounts only to the extent of paying disgorgement of Rs.21,59,971 with 12% simple interest from February 2007.
Full text
. Page 2 of 4 4. Thereafter, Rudra Securities & Capital Ltd. (hereinafter referred to as “the applicant” ) vide letter dated October 7, 2016 made a representation before SEBI. The details are as under:
. Page 3 of 4 Disgorgement of unlawful gain of ₹21,59,971/- made by the applicant, along with simple interest @12% per annum from February 2007 till the date of payment.
. Page 4 of 4 7. The representation made by Rudra Securities & Capital Ltd. vide letter dated October 7, 2016 in this regard is accordingly disposed of.
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/SR/SEBI/EFD/63/12/2016. 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.