9911796707
TMI Blog2017 (10) TMI 1669X X X X Extracts X X X X X X X X Extracts X X X X ..... y lock-in period for 1 year, the Preferential Allottees and the Promoter related entities were provided exit at a high price by the certain entities allegedly related/connected amongst themselves and with Mishka ("Exit Providers"); c) By virtue of the same, it was alleged that the company and persons in charge of its affairs created preferential allotment of shares as a mode to provide fictitious long term capital gains ("LTCG") to its Preferential Allottees and Promoter related entities so as to convert their unaccounted income into accounted one; its Promoters/Directors Exit Providers, Preferential Allottees and the Promoter related entities artificially increased the volume and price of the scrip and misused securities market system for making illegal gains and to convert ill-gotten gains into genuine one to avail LTCG. 3. As the aforesaid activities of Mishka and its Promoters, Directors and suspected entities were prima facie in violation of SEBI Act, 1992 ("SEBI Act") and SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 ("PFUTP Regulations") SEBI passed an Ad interim ex-parte order dated April 17, 2015 ("interim or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 53 Harleen Kaur AECPC7959J 54 Savita Bansal AEJPB6903J 55 Smt Rashmi Jain ABTPS0026N 56 Jignesh M. Amin AAJPA2349H 57 Vimal Jain AADPJ5579L 58 Sarad Kumar B Jain AJGPS8091J 59 Ashok Kumar Chowatia AADPC6863A 60 Tarachand L Shah ABQPL6153L 61 Madanlal Babulal Chowatia AADPC6859J 62 Shankar Batra ACSPB5838R 63 Sadhna Rani ABHPA9244J 64 Ranidevi Agarwal AGEPA7936K 65 Ravinder Kumar Gupta (Huf) AADHR3405B 66 Brij Bhushan Singhal (Huf) AAAHB6923R 67 Manharlal Narottamdas Shah AAKPS3276J 68 Esha Securities Ltd AAACE2862P 69 Amrit Sales Promotion Pvt Limited AACCA3220D 70 Symphony Merchant Pvt Ltd AADCS5411K 71 Bazigar Trading Private Limited AABCB3052B 72 Rangan Vincom Private Limited AAGCR1715E 73 Ladios Trading Private Limited AACCL3868N 74 Topwell Properties Private Limited AADCT8403C 75 Signet Vinimay Private Limited AAMCS1712Q 76 Sanklap Vincom P Ltd AAMCS1711P 77 Runicha Merchants Private Limited AAECR0580M 78 Winall Vinimay Private Limited Ltd AAACW8004B 79 Spice Merchants Private Limited AAPCS7492G 80 Apex Commotrad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Kanheyalal Vyas ACTPV2787Q 127 Bharat Bagri (Huf) AADHB8488A 128 Jayesh Narendra Kesharia (Huf) AAEHJ1610D 129 Manjulaben Sukhdev Pandya ALVPP7764J 4. The directions issued against Jayesh Narendra Kesharia HUF was revoked vide Order dated November 10, 2015. Further, the directions issued against Bharat Bagri HUF and Manjuben Sukhdev Pandya were revoked vide Order dated August 26, 2016. 5. The directions against the remaining 126 entities were confirmed vide five separate orders dated October 12, 2015, October 21, 2015, April 13, 2016, July 05, 2016 and August 26, 2016. 6. Pursuant to the interim order, SEBI conducted a detailed investigation of the entire scheme employed in the instant matter, connection amongst the debarred entities, funds used for the price manipulation of the scrip of Mishka, etc., so as to ascertain the violation of securities laws. 7. Upon completion of investigation by SEBI, it is noted that there are no adverse findings against the 104 entities mentioned at S. No. 1-104 in Table No. 2 with respect to their role in the price manipulation /prima facie violations for which Interim Order dated April 17, 2015 was passed and s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er Kumar Gupta (Huf) AADHR3405B 48 Esha Securities Ltd AAACE2862P 49 Amrit Sales Promotion Pvt Limited AACCA3220D 50 Symphony Merchant Pvt Ltd AADCS5411K 51 Bazigar Trading Private Limited AABCB3052B 52 Rangan Vincom Private Limited AAGCR1715E 53 Ladios Trading Private Limited AACCL3868N 54 Topwell Properties Private Limited AADCT8403C 55 Signet Vinimay Private Limited AAMCS1712Q 56 Sanklap Vincom P Ltd AAMCS1711P 57 Runicha Merchants Private Limited AAECR0580M 58 Winall Vinimay Private Limited Ltd AAACW8004B 59 Spice Merchants Private Limited AAPCS7492G 60 Apex Commotrade Private Limited Ltd AAJCA4459K 61 Skm Travels Private Limited AAICS0688K 62 Scope Vyapar Private Limited AAICS6023N 63 Vibgyor Financial Servicepvt Ltd AAACV8378B 64 Helpful Investment Advisory Pvt Ltd AACCH4303G 65 Function Financial Consultants Pvt Ltd AABCF5486H 66 Kapeeshwar Vintrade Private Limited AAECK7329P 67 Sinjan Overseas Pvt Ltd AAMCS8721P 68 Wonder Procon Private Limited Wppl AABCW0317N 69 Helot Properties Pvt Ltd AACCH8885R 70 Cheroot Vanijya Pvt Ltd AAECC9285A 71 Sidhiman Vyapaar Private Limited AATCS3687H 72 Vishnudham Mark ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ered view that the directions issued against them vide interim order dated April 17, 2015 which were confirmed vide Orders dated October 12, 2015, October 21, 2015, April 13, 2016, July 05, 2016 and August 26, 2016, are liable to be revoked. Further with regard to 9 entities at S. No. 105 to 113 in in Table No. 2, no adverse material was found in the Investigation Report with respect to prima facie violations found against them in Interim Order dated April 17, 2015 (which was subsequently confirmed) but the Investigation Report has brought out violation relating to disclosure under SEBI (Prohibition of Insider Trading) Regulations, 1992 and SEBI (Substantial Acquisition of Shares And Takeovers) Regulations, 2011 warranting Adjudication Proceedings. Therefore directions issued against them vide interim order dated April 17, 2015 which were subsequently confirmed are also liable to be revoked. 9. In view of the foregoing, I, in exercise of the powers conferred upon me under Section 19 of the Securities and Exchange Board of India Act, 1992 read with Sections 11, 11(4) and 11B of the SEBI Act, hereby revoke the Confirmatory Orders dated October 12, 2015, October 21, 2015, ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
