Sebi restrains transfer of shares of Dangi firm
The market regulator Sebi has issued a fresh order restraining transfer of shares from the account of Sanjay Dangi firm Pacific Corporate Services Limited or PCSL, one of the entities barred from accessing or dealing in the securities market. In an earlier order dated Dec 2, SEBI had barred Sanjay Dangi and his group firms from dealing in securities for manipulating the share price of Murli Industries along with its promoter before the issuance of the FCCBs.
“I find that, after upload of the said Order on SEBI website but prior to the said account being put in freeze, certain shares lying in the said account were transferred to the beneficiary owner belonging to another entity named Investsmart Financial Services Limited (IFSL) and maintained with the same depository participant IL&FS Securities Services” mentioned K M Abraham, wholetime member of Sebi through the order. The total value of shares transferred from the account of PCSL to IFSL was found to be around Rs. 204 crore. He added that a part of such holdings were subsequently sold off by IFSL trading in its own account through broker HSBC Invest Direct Securities (India) limited.
Source:https://www.indianexpress.com/news/Sebi-restrains-transfer-of-shares-of-Dangi-firm/746635
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