Page 1 of 29
WTM/SR/ISD/06/09/2013
BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA,
MUMBAI
CORAM: S.
RAMAN, WHOLE TIME MEMBER
ORDER
Under sections 11, 11B and 11(4) of the Securities
and Exchange Board of India Act, 1992 read with
Regulation 11(1) of the...
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Page 1 of 29
WTM/SR/ISD/06/09/2013
BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA,
MUMBAI
CORAM: S.
RAMAN, WHOLE TIME MEMBER
ORDER
Under sections 11, 11B and 11(4) of the Securities
and Exchange Board of India Act, 1992 read with
Regulation 11(1) of the SEBI (Prohibition of Fraudu
lent and Unfair Trade Practices relating to
Securities Market) Regulations, 2003, in the matter
of alleged market manipulation using GDR
Issues against Pan Asia Advisors Limited (now known
as Global Finance and Capital Limited)
and Mr.
Arun Panchariya (PAN No.
AEVPP6125N).
Appearances –
For Pan Asia Advisors
Limited and
Mr.
Arun Panchariya
:
(i) Joby Mathew, Advocate;
(ii) Mr.
Arun Panchariya;
(iii) Ms.
Mona Vora.
For SEBI
:
Less
