Adjudication Order in respect of Snehbar Stockholdings Private Limited in the matter of Oasis Tradelink Limited

Last updated: 05 November 2020

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Quick Summary

The Securities and Exchange Board of India (SEBI) has issued an adjudication order against Snehbar Stockholdings Private Limited concerning its trading activities in Oasis Tradelink Limited (OTL) shares. SEBI investigated Snehbar for potential violations of insider trading regulations between January and March 2018. It was found that Snehbar failed to make timely disclosures to OTL regarding several off-market share purchases and sales, particularly those exceeding £10 lakhs in value, as required by SEBI regulations. Furthermore, Snehbar did not respond to SEBI's summons for information, leading to penalties.

Court :
SEBI

Brief :
Oasis Tradelink Limited (hereinafter referred to as ‘OTL’), is a company listed on Bombay Stock Exchange Limited (BSE). Securities and Exchange Board of India (‘SEBI’) had conducted an investigation in the matter of trading in the scrip of the OTL by its promoter Snehbar Stockholding Private Limited (hereinafter referred to as ‘the Noticee) to ascertain whether there was any violation of the provisions of SEBI (Prohibition of Insider Trading) Regulation, 2015 (hereinafter referred to as ‘the PIT Regulations) during the period January 1, 2018 to March 31, 2018 (hereinafter referred to as ‘investigation period’).

Citation :
[ADJUDICATION ORDER Ref No.: Order/AP/VS/2020-21/9534]

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