sebi:WTM/SR/SEBI/ISD/18/03/2017
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Show Cause Notice dated October 26, 2012 disposed of; matter remanded for formal investigation to be completed within six months
Provisions invoked
- s. 11
- s. 19
- s. 12A
- s. 12
Regulations
- Reg. 3
- Reg. 199
- Reg. 44
- Reg. 2
- Reg. 11(1)
- Reg. 3(1)
- Reg. 201
- Reg. 11(2)
- Reg. 3(2)
- Reg. 32
- Reg. 31(1)
- Reg. 31(3)
- Reg. 8A(2)
Holding
The Show Cause Notice dated October 26, 2012 against the 23 entities is disposed of without any finding of violation, and the matter is remanded for a formal investigation to be completed within six months. No penalty is imposed at this stage.
Full text
Page 2 of 29 2. The examination prima facie revealed the following – 2.1 The Promoters of Gitanjali Gems during the Examination Period were –
Page 3 of 29 a period of six months i.e. the Examination Period, showed a near 100% concentration of trades by the said entities. The aforesaid is explained as under –
Page 4 of 29 percentage of Open Interest (“OI”) as net long position during the Examination Period ranging upto 56.65% of MWPL in Gitanjali Gems, which is summarized as under –
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Source: SecMarx — sebi:WTM/SR/SEBI/ISD/18/03/2017. 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.