sebi:WTM/TCN/108/ISD/Jan/09
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Facts / Headnote
No further directions required; noticees directed to be careful in future
Provisions invoked
- s. 11B
- s. 11(4)
- s. 19
Regulations
- Reg. 4(b)
Parties
- M/s Ananya Traders Private Limited
- Shri S. Dutta Roy
- Shri S. Sengupta
Holding
No further directions were required to be passed against the noticees in the matter involving the scrip of Munga Holdings Ltd., following the earlier order in the same matter, and the noticees were directed to be careful in future.
Full text
Page 2 of 6 referred to as “SEBI”). As per the said report of DSE, during the said period, the price of the scrip had gone up from Rs. 3.50 on 1st January 2001 to Rs. 43 on 31st August 2001 which is about 1130% (increase) in 52 trading days only. This unusual price raise was against low trading volumes and without any change in the economic fundamentals of the company.
Page 3 of 6 matched trades that are not intended to effect transfer of beneficial ownership but intended to operate only as a devise to inflate or cause fluctuation in the market price of the security
Page 4 of 6 (e) No director or officer of first noticee had benefited out of the alleged transactions. 8. Hearing: SEBI granted an opportunity of personal hearing on May 4, 2006 However on request from the advocates for the noticees, M/s. Chawla and Co., the personal hearing was posted to 19-05-2006. M/s. Chawla and Co. appeared before me on the said date on behalf of all the noticees and made their
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Source: SecMarx — sebi:WTM/TCN/108/ISD/Jan/09. 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.