Company Law - Corporate Law Reporter

Public Notice regarding fraudulent calls made in the name of Regulators

It is observed from some recent newspaper reports that fraudulent telephone calls are being made to individuals/investors in the name of the regulatory officials giving advice on financial products. In this regard, the attention of the public is drawn to the fact that SEBI neither offers any investment advice or recommend any investment products/schemes nor… Read More

SEBI Case of Irregular trading

The Securities and Exchange Board of India ('SEBI') had conducted investigation into the irregular trading for the period January 1, 2004 to March 31, 2005 ('investigation period') in the scrip of Bakra Pratisthan Limited ('the Company') listed at the Calcutta Stock Exchange Limited ('CSE'). Investigations revealed that the share prices of the company had witnessed… Read More

SEBI Order in the case of sharp downward movement in the specific scrip prices

SEBI's surveillance systems were alerted when it was observed that the prices of the four scrips had seen a sharp downward movement within the time from 09:15 to 09:49 on July 26, 2012. During 15 days prior to July 26, 2012, no corporate announcements/price sensitive information was disclosed to the stock exchanges by the aforesaid companies which… Read More

SEBI Order in the Case of Lack of Due Diligence and Conduct of Business

Consent order on the application submitted by Indiabulls Securities Limited A Panel consisting of Whole Time Members, SEBI, Shri Rajeev Kumar Agarwal and Shri Prashant Saran has passed a consent order on January 02, 2013 on the application submitted by Indiabulls Securities Limited, in accordance with SEBI Circular dated April 20, 2007 for consent orders. … Read More

SEBI Order in the Case of Creation of Artificial Volume

SEBI has been investigating a case of aiding and abetting in creation of artificial stock volumes which impacted the price of the scrips of Genus Commutrade Limited. It was revealed in SEBI's investigations, that M/s Parklight Investments Private Limited ('PIPL'), a stock broker and member BSE, was found to have aided and abetted its clients in creation… Read More

Amendment to Section 15M of Securities and Exchange Board of India (SEBI) Act, 1992

The Cabinet today approved the proposal of the Department of Economic Affairs for amendment to Section 15M of the Securities and Exchange Board of India (SEBI) Act, 1992, to enlarge the field of selection for the post of Presiding Officer (PO) of the Securities Appellate Tribunal (SAT), by including sitting or retired judge of a… Read More

SEBI Response to Appeal under the RTI Act 2005 in a Case Grievance Redressal

Background The appellant had filed an application dated October 29, 2012 under the Right to Information Act, 2005 (hereinafter referred to as "RTI Act"). The respondent vide letter dated November 27, 2012, responded to the appellant. The appellant has filed this undated appeal which was received at SEBI on December 24, 2012, against the said… Read More

SEBI Response to Appeal under the RTI Act 2005 in a Case of Cheque bouncing

Background The appellant had filed an application dated September 24, 2012 under the Right to Information Act, 2005 (hereinafter referred to as "RTI Act"), before the Central Assistant Public Information Officer (hereinafter referred to as "CAPIO") at the SEBI Northern Regional Office (NRO), New Delhi. The respondent vide letter dated October 30, 2012, responded to… Read More

SEBI Adjudication Order in the matter of Empower Industries India Ltd.

Background Securities and Exchange Board of India (hereinafter referred to as ˜SEBI™) conducted an investigation relating to buying, selling or dealing in the shares of Empower Industries India Ltd. (hereinafter referred to as ˜EIIL / company™) to ascertain whether there was any violation of the provisions of Securities and Exchange Board of India Act, 1992… Read More

SEBI Order In the matter of downward movement in the prices of four specific scrips

Background Securities and Exchange Board of India ('SEBI'), being alerted by its surveillance systems, on July 26, 2012, noticed a downward movement in the prices of four scrips namely Pipavav Defence and Offshore Eng. Limited, Parsvnath Developers Limited, Tulip Telecom Limited and Glodyne Technoserve Limited ('Glodyne') as compared to their closing prices on July 25,… Read More

SEBI Adjudication Order in respect of Rotomac Global Pvt. Ltd. (in the matter of Flawless Diamonds (India) Ltd.)

Background Securities and Exchange Board of India (hereinafter referred to as ˜SEBI™), while examining the alleged irregularity in the trading in the shares of Flawless Diamonds India Limited (hereinafter referred to as 'FDIL™) observed that Rotomac Global Private Limited (hereinafter referred to as 'the Noticee), had acquired 40, 00,000 shares i.e. 24% shareholding / voting… Read More

SEBI Adjudication Order against Shri A.B. Satyavas Reddy in the matter of Bartronics India Limited

Background Securities and Exchange Board of India (hereinafter referred to as ˜SEBI™) conducted an investigation in the matter of Bartronics India Limited (hereinafter referred to as ˜BIL™), a company listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), for the period from June 16, 2010 to September 30, 2010 to ascertain whether there was any violation… Read More

SEBI Adjudication order against M/s Triveni Management Consultancy Services Limited

Background 1. The Securities and Exchange Board of India (hereinafter referred to as SEBI) conducted investigation into the alleged irregularity in the trading in the shares of: (i) Allcargo Global Logistics Ltd. (Allacargo), (ii) Asian Star Company Ltd. (Asian), (iii) KSL & Industries Ltd. (KSL), (iv) Mavens Biotech Ltd. (Mavens), (v) Panoramic Universal Ltd. (Panaromic),… Read More