Shri Rajeev Kumar Agarwal, Whole Time Member, SEBI, passed an ad interim ex -parte order dated June 01, 2016 in the matter of Dhyana Finstock Ltd against 76 entities prohibiting them from accessing the securities market and buying, selling or dealing in securities, either directly or indirectly, in any manner whatsoever, till further directions. Further BSE has also been directed to withhold the pay-out of funds for the trades executed on July 27, 2015 and keep the same in interest bearing escrow account till further directions.
Preliminary examination has revealed the misuse of the fraudulent bulk SMS for manipulating and offloading shares of Dhyana Finstock Limited by certain entities. During the examination of scrip it was also observed that issue of shares on preferential basis has been misused by the entities connected to the company for suspected misuse of Long Term Capital Gain (LTCG).
The full text of the order is available on the website: www.sebi.gov.in