sebi:WTM/TCN/60/IVD/Oct/08
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Noticee restrained from accessing the securities market and prohibited from buying, selling or otherwise dealing in securities for a period of one year.
Provisions invoked
- s. 11
- s. 19
Regulations
- Reg. 11
- Reg. 3
- Reg. 6
- Reg. 6(a)
Parties
- Shri Piyush Jhaveri, Proprietor, Shri Parshwa Finance
Holding
The noticee, Shri Piyush Jhaveri, proprietor of Shri Parshwa Finance, was held to have violated Regulation 6(a) of the PFUTP Regulations, 1995 by knowingly engaging in fraudulent acts in connection with the securities market, and was restrained from accessing the securities market for one year.
Full text
Page 2 of 11 “company”/ “Manna Glass”) between January 1999 to July 1999 and January 2000 to July 2000 (hereinafter referred to as relevant period).
Page 3 of 11 (hereinafter referred to as noticee). Average price in the market during which the shares were sold was around Rs.3.5 per share, i.e 1.5 crore shares worth Rs. 5.2 crore were sold in the market. Shri Prabhudas Lillardhar, member BSE had executed trades on behalf of its sub- broker Jyotish Bhogilal whose client was Shri Parshwa Finance (Proprietor - Shri Piyush Jhaveri, the noticee herein). The client of Shri Parshwa Finance was M/s Rajesh N Jhaveri and others.
Page 4 of 11 (c) The statements taken from persons during investigation have not been furnished to him and in the absence of the same it would not be able to represent the case properly.
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/TCN/60/IVD/Oct/08. 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.