sebi:WTM/VKC/ID5/119/08
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Facts / Headnote
Restraint order: Shri D.S. Pendse, Mrs Anuradha Pendse, NPPL and Dr. Anjali Beke restrained from accessing the securities market for five years; IECIL warned; no direction passed against APIPL and SSPL at this stage.
Provisions invoked
- s. 11
- s. 370
- s. 307
- s. 372
- s. 4A
- s. 17
Regulations
- Reg. 3
- Reg. 4
- Reg. 6(d)
- Reg. 9
- Reg. 2
- Reg. 2(e)
- Reg. 2(h)
- Reg. 2(k)
- Reg. 2(i)
Parties
- Shri D.S. Pendse
- Mrs Anuradha Pendse
- M/s Nalini Properties Pvt. Ltd.
- Dr. Anjali Beke
- M/s Anjudi Properties & Investment Pvt. Ltd.
- M/s Indian Emerging Company Investment Ltd.
- M/s Sarjan Securities Pvt. Ltd.
Holding
The noticees Shri D.S. Pendse, Mrs Anuradha Pendse, NPPL and Dr. Anjali Beke were held to be insiders who dealt in 2,90,000 shares of TFL on the basis of unpublished price sensitive information, in violation of Regulations 3 and 4 of the Insider Trading Regulations, 1992 and Regulation 6(d) of the PFUTP Regulations, 1995, and were restrained from accessing the securities market for five years.
Full text
Page 2 of 22 to as ‘TFL’). Mrs Anuradha Pendse (hereinafter referred to as ‘Mrs. Pendse’), wife of Shri Pendse, was one of the Directors of M/s Nalini Properties Pvt. Ltd. (hereinafter referred to as ‘NPPL’), a company controlled by Mrs Pendse and father of Shri Pendse. Dr. Anjali Beke is acquaintance and close associate of Shri Pendse. M/s Indian Emerging Company Investment Ltd. (hereinafter referred to as ‘IECIL’) is a subsidiary of M/s Niskalp Investments & Trading Company Ltd. (hereinafter referred to as ‘Niskalp’), which is a subsidiary of TFL.
Page 3 of 22 unpublished price sensitive information. Accordingly, his associates/ relatives sold 2,90,000 shares of TFL during March 2001, through antedated Contract Notes of September 2000, before the information became public.
Page 4 of 22 therefore alleged that these trades were pre-dated to September 2000 by these brokers at the behest of the noticees herein.
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Source: SecMarx — sebi:WTM/VKC/ID5/119/08. 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.