Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT
Decided on : Jan-11-2008
1. Shri Dilip S. Pendse (hereinafter referred to as 'Shri Pendse') is the former Managing Director of Tata Finance Limited (hereinafter referred 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.2. Upon receiving a complaint from TFL, a copy of which was also received from Joint Parliamentary Committee, SEBI initiated an investigation interalia into the alleged insider trading by Shri Pendse and his relatives/associates/friends.3. The investigations revealed that Shri Pendse by virtue of being the ...
Tag this Judgment!Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT
Decided on : Mar-04-2008
1. Dhanlaxmi Lease Finance Ltd. (hereinafter referred to as "Dhanlaxmi" or "the company") is an Ahmedabad based finance company which was incorporated as a public limited company on February 24, 1995 with the Registrar of Companies, Gujarat. The business activities of Dhanlaxmi comprises of financing, hire purchase and leasing. It came out with a public issue of Rs 31 lakh equity shares of Rs 10/- each for cash at par aggregating to Rs 310 lakhs. The issue opened on November 21, 1995 and closed on November 24, 1995. The issue was oversubscribed to the extent of 2.5 times as per the 3 day report filed with Securities and Exchange Board of India (hereinafter referred to as "SEBI") by the Lead Manager, Monarch Projects and Finmarkets Ltd. (hereinafter referred to as "Monarch").2. SEBI received a complaint from the Tax Payers Protection Council, Ahmedabad on December 21, 1995 alleging that multiple/fictitious applications had been made in the public issue of Dhanlaxmi and the same had bee...
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