Judgment Search Results Home > Cases Phrase: finance no 2 act 2004 Sorted by: old Court: sebi securities and exchange board of india or securities appellate tribunal sat Page 4 of about 296 results (0.284 seconds)

Shree Rama Multi -tech Ltd. Vs. Securities and Exchange Board of India

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Reported in : (2008)81SCL359SAT

..... securities market) regulations the board found the charges established and by separate orders restrained the five clients for accessing the capital market for a period of three years and since global finance had acted as a conduit in providing the finances for manipulating the trades, it was restrained for a period of five years. ..... earlier observed, the charge leveled against the company and its directors is that they provided funds through global finance to the five clients who were their associates to enable them to manipulate the price of the scrip of ..... against these orders that a bunch of 10 appeals were filed by the appellants, the aforesaid five clients global finance and by one asha patel how had also been found to have manipulated the price of the scrip in the ..... investigations, the board issued show cause notices to the company, its directors, to global finance and also to the five aforesaid clients on whose behalf the brokers had executed the trades ..... it was alleged that on receipt of the funds from the company through global finance the five clients had traded in the scrip whereby they manipulated the price thereof in the market and after they hiked the same, they off- loaded their ..... 379, 381, 389, 390 and 403 of 2004) filed by the five clients and also by global finance and asha patel. ..... 379, 381, 389, 390 and 403 of 2004 filed by the clients and other entities. ..... 377, 378 and 380 of 2004 which came up for hearing along ..... 377, 378 and 380 of 2004 in which common questions of law .....

Sebi Vs. PravIn V. Shah Stock Broking Pvt.

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... or indirectly, transactions in securities, with the intention of artificially raising or depressing the prices of securities and thereby inducing the sale or purchase of securities by any person; (b) indulge in any act, which is calculated to create a false or misleading appearance of trading on the securities market; (c) indulge in any act which results in reflection of prices of securities based on transactions that are not genuine trade transactions; (d) enter into a purchase or sale of any securities, not intended to effect transfer of beneficial ..... further, it has been alleged that the broker facilitated kp entities to receive finance against the delivery of shares without waiting for pay-out at the exchange and that the same were so structured to give them a semblance of actual sale and purchase of shares at the stock ..... on completion of investigations, sebi appointed an enquiry officer vide order dated october 14, 2004 under regulation 5(1) of securities and exchange board of india (procedure for holding enquiry by enquiry officer and imposing penalty) regulations, 2002 (hereinafter referred to as the enquiry regulations) to enquire into the alleged violations committed by ..... further, i note that the broker, vide letter dated december 15, 2004 (to the enquiry officer) admitted that, it had executed several trades on behalf of its aforesaid clients in the aforesaid ..... broker also relied upon its reply dated december 15, 2004 and the submissions made before the enquiry officer.4.4. .....

Sebi Vs. Nokia Finance International Pvt.

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... after considering the investigation report, sebi appointed an enquiry officer initially vide order dated march 23, 2004 and later vide order dated november 08, 2004 to enquire into the violations allegedly committed by the broker m/s nokia finance international pvt ltd (hereinafter referred to in short as "the broker") under the provisions of sebi (stock brokers and sub-brokers) regulations, 1992 and sebi circular smd/sed/cir/93/23321 dated november 28, 1993.3. ..... accordingly, in exercise of the powers conferred upon me in terms of section 19 of the securities and exchange board of india act, 1992 read with regulation 13(4) of sebi (procedure for holding enquiry by enquiry officer and imposing penalty) regulations, 2002, i hereby dispose off the enquiry proceedings with above observations without imposing any penalty or direction against the broker m/s nokia finance international pvt ltd.

Sebi Vs. Shonkh Technologies

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... preferred rather than one which attempts to find a way to circumvent it.3.3 in the facts and circumstances, the contention that sebi does not have power to pass directions under sections 11 and 11 b of the act for the violations of the provisions of futp regulations is devoid of any merits and accordingly is rejected.3.4 having said so, i note that the investigation of sebi was divided into two periods i.e august 9, 2000 ..... of stil, sebi conducted investigations into the buying, selling and dealings in the said shares inter alia under the provisions of securities and exchange board of india act, 1992 (for short the act) read with securities and exchange board of india (prohibition of fraudulent and unfair trade practices relating to securities markets) regulations, 1995 (for short the futp regulations). ..... if one has regard to the aforesaid principles, it would follow that the power which has been conferred under section 11b of the act to issue direction are of a widest possible amplitude and are exercisable in the interests of investors.the powers of sebi to pass orders ..... of the foregoing, i in exercise of the powers conferred upon me by virtue of sections 19 and 11b of securities and exchange board of india act, 1992 read with regulation 11 of securities and exchange board of india (prohibition of fraudulent and unfair trade practices relating to securities market) regulation, 2003 ..... dated september 17, 2004 to stil and september 24, 2004 to moneygrowth finance and consultants pvt. .....

Sebi Vs. Prabhu Steel Industries Ltd. and

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... penalty levied by adjudicating officer was modified and reduced by the hon'ble sat in appeal no 370 and 372 of 2004 to rs.20,000/- each.5.6 apart from the adjudication, show cause notice against the company and its directors were issued under section 11 b of sebi act for their alleged involvement with shri rajesh shah and his associate smt sarita choudhary for manipulating the prices as also for creating artificial ..... sarita choudhary contended that the transactions are in the nature of permissible 'finance transaction'.this is a peculiar stand which is not acceptable as the clear evidence is available as stated above to prove that they had indulged in circular trades to create ..... that the transactions executed by her were in the nature of 'finance transaction' and such transactions were carried out in other scrips as ..... sarita choudhary also stated that the spot badla financing was general practice of the market and was ..... sarita choudhary admitted that the transactions were done to finance the broker grp who had also submitted that the psil shares were given to her as ..... raised by her during the course of hearing are given hereunder: 4.1.1 that she had executed genuine business of "sell-n-cash" type of financing which was widely prevailing in those days. ..... no reply was submitted by shri gopal finance ltd and no one appeared on their behalf in the hearing opportunities given to them.5.10 rajesh shah group had dealt in psil scrip through two brokers viz.mmsl and grp and accounted .....

Sebi Vs. Net Equity Broking India Pvt. Ltd.

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... show cause notices dated november 13, 2006 were issued to the noticees advising them to show cause as to why suitable directions under regulation 11b and 11 (4) of sebi act, 1992 and regulation 11 of pfutp regulations, including restraining them from accessing the capital market and dealing in securities for a particular period should not be issued for the violations mentioned in paragraph ..... rajkumar masalia, before the investigating authority said that net equity had transferred around 150,000 shares of zsl in his demat account in order to obtain finance as per terms of nilesh popat with net equity and dps. ..... view of the same, sebi conducted detailed investigation into the buying, selling or dealing in the scrip of zsl during the period from august 01, 2003 to november 28, 2003 (hereinafter referred to as period - i) and may 07, 2004 to june 22, 2004 (hereinafter referred to as period - ii).4. ..... on june 16, 2004 and then the price moved between rs 4.23 to rs 4.65 during june 17, 2004 to june 22, 2004. ..... 3.86 (low on 22nd june 2004) and 34,01,471 shares were traded during this period ..... in may & june 2004 to meet the same problem dps had to go for the same cycle ..... period of investigation was august 01, 2003 to november 28, 2003 and may 07, 2004 to june 22, 2004. ..... hereinafter referred to as zsl) on witnessing sudden price rise along with concentration among few clients during august to november 2003 and sudden price fall with heavy concentration among few clients during may to june 2004. .....

Sebi Vs. Lunar Holdings Ltd. and ors.

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... as the subject matter in question is substantially similar in nature, i decide to pass a common order in the matter.3.2 in view of the above, i, in exercise of powers conferred under section 19 of the securities and exchange board of india act, 1992 read with regulation 16(5) and 16(6) of securities and exchange board of india (procedure for holding enquiry by enquiry officer and imposing penalty) regulations, 2002, hereby cancel the certificate of registration of the following stock brokers: s. ..... inb200820134 november 18, 2004.unisys securities and finance ltd. ..... inb200913033 otc exchange of india halkara finance (p) ltd. ..... inb200820134 otc exchange of india unisys securities and finance ltd. ..... inb200584032 otc exchange of india gfc securities and finance ltd. ..... further, gfc securities and finance ltd. (sr. no. ..... inb200820134 unisys securities and finance ltd. ..... inb200584032 shri a s kumar (trade name : prema swaroop securities ) inb200817510 gfc securities and finance ltd. ..... inb230778933 december 28, 2004.december 28, 2004.ramakrishna equity fund ltd ..... inb200820134 unisys securities and finance ltd. ..... inb200584032 shri a s kumar (trade name : prema swaroop securities ) inb200817510 gfc securities and finance ltd. ..... inb230778933 november 25, 2004.november 25, 2004.ramakrishna equity fund ltd ..... inb200868234 november 18, 2004.november 18, 2004.bayswater investments and trading (p) ltd ..... inb200584238 november 18, 2004.shri ramesh kumar virmani inb200889910 november 18, 2004.vinco holdings and financials (p) ltd .....

In Re: Bharat Kumar Babulal Jain

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... as per the prospectus, the main objects of the issue were to part finance the project cost of setting up a man made fabric processing unit at midc, taloja, with an installed capacity of 2,00,00,000 mtrs per year and to raise the margin required for the working capital requirements of ..... as per the original understanding between the noticees and clio finance ltd/shri suresh bafna, mfpl was to buy back these shares from the financiers immediately on allotment and pay interest for the amount invested by ..... accordingly, show cause notices dated june 02, 2004 were issued to the noticees to show cause as to why suitable directions under section 11b read with section 11 of sebi act 1992, read with regulation 44 of sebi (substantial acquisition of shares and takeovers) regulations 1997 and regulation 11 of pfutp regulations, should not be passed ..... details of the applications arranged by clio finance ltd/shri suresh bafna are given hereunder: ..... so obtained were immediately sold by them to clio finance ltd and rajesh financial services.14. ..... manager to the issue was libord finance and registrar was pcs industries.3. ..... 8 lakhs from clio finance ltd whose bank account ..... director of mfpl in his statement given under oath to sebi on may 29 2002 had submitted that since the issue was not getting subscribed, they had requested shri suresh bafna, director of clio finance ltd. ..... opening these bank accounts were the financiers themselves under the stamp of the co-lead manager to the issue, clio finance ltd. .....

D.G. Goenka Equities Pvt. Ltd. Vs. Securities and Exchange Board of In ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... in support of his case, the counsel for the appellant cited this tribunal's decision in appeal no.101 of 2004 amit sahita finance pvt.ltd. ..... as has been pointed out by us in appeal no.211 of 2004 cited above, if the regulations intended to include the heirs and successors of a corporate member of a stock exchange within the definition of a stock broker, the framers of the regulations would have specified so.however, the definition of a stock ..... in appeal no.211 of 2004 kamlesh ramanlal shah v.securities and exchange board of india and the stock exchange, mumbai, which was cited by the learned counsel for the board during her arguments, the contention that in cases where ..... the appellant challenged the board's action before this tribunal in appeal no.335 of 2004. ..... this was reflected in the fee liability statement received by the appellant on october 21, 2004. .....

In Re: Shalibhadra Infosec Ltd.

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... to create a false or misleading ppearance of trading on the securities market; no acquirer shall acquire shares or voting rights which (taken together with shares or voting rights, if any, held by him or by persons acting in concert with him), entitle such acquirer to exercise fifteen percent or more of the voting rights in a company, unless such acquirer makes a public announcement to acquire shares of such company in accordance with the regulations. ..... regulations and regulation 13 (3) of the sebi (insider trading) regulations, 1992 in addition to the sebi (futp) regulations, 1992.now, therefore, in exercise of powers under section 11b read with section 11(4) of the sebi act, 1992 and regulation 11 of the sebi (prohibition of fraudulent and unfair trade practices relating to securities market) regulations, 2003 i hereby restrain ashit vora (pan ..... 2005. for the reasons stated above and taking into account the transactions in the scrip of sil, his joint demat accounts with other persons acting in concert and the securities flow as discussed it is clearly established that vinod desai has violated regulations 3 and 6(a) of the sebi (futp) regulations, 1995, alongwith regulation 10 of the takeover regulations and ..... shah, shah maheshbhai m, vinod desai and ashit haribhai vora were also registered with shri parshwa finance as clients but they offloaded shares of sil through persons acting in concert like pankaj ..... for personal appearance dated january 24, 2004 were also sent through his .....