sebi:WTM/TCN/ID3/98/02/2007

SEBI · SEBI · 2004-12-28 · Dr. T. C. Nair, Whole Time Member

This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.

Facts / Headnote

Exonerated - no directions to be issued; show cause notices disposed of

Provisions invoked

Regulations

Parties

Holding

The seven associate entities do not appear to have violated Regulation 4(a) and (b) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 1995, and no directions under Section 11(4) read with Section 11B of the SEBI Act, 1992 need be issued; the show cause notices are disposed of accordingly.

Full text

Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ DIRECTIONS UNDER SECTION 11(4) READ WITH SECTION 11B OF SEBI ACT, 1992 AND REGULATION 11 OF SEBI (PROHIBITION OF FRAUDELENT AND UNFAIR TRADE PRACTICES RELATING TO SECURITEIS MARKET) REGULATIONS, 2003 AGAINST 1) M/S. PINK PANTHER SECURITIES PVT. LTD., 2) TRIPLE STAR FINCAP PVT. LTD., 3) RPB HOLDINGS & FINANCE PVT. LTD., 4) SABHYA FINCAP PVT. LTD., 5) S. ARUN PORTFOLIO LEASING PVT. LTD., 6) MIDWAY INVESTMENTS PVT. LTD. AND 7) JUNKOOL HOLDINGS & FINANCE PVT. LTD. IN THE MATTER OF M/S. MEDIA VIDEO LIMITED. WTM/TCN/ID3/98/02/2007

Junkool Holding & Finance Pvt. Ltd. 0 25,000 25,000 22,000 (-) 72,000 S. Arun Portfolio Leasing Pvt. Ltd. 0 0 0 71,100 35,000 9,300

17. It has been submitted that they have not taken benefit of the jacked up price as they sold the shares mainly during the no delivery period in normal course and therefore did violate any Rules & Regulations of SEBI. From the examination of the trading pattern of these entities , I have noted that Junkool Holding & Finance Pvt. Ltd., S Arun Port Leasing Pvt. Ltd., Midway Investment Pvt. Ltd. and RPB Holding & Finance Pvt. Ltd. has only sold the shares ( except buy of 5,000 shares by RPB); hence can not be said to h created  artificial volumes. It is further noted that these entities have sold the shares mainly during the ‘no delivery period’, when the price just started moving up and has not ta benefit of manipulated price.

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Source: SecMarx — sebi:WTM/TCN/ID3/98/02/2007. 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.