TaxTMI 
TaxTMI 
2014 (12) TMI 1434
X X X X Extracts X X X X
X X X X Extracts X X X X
....crip of Moryo during the Examination Period is given below: 3. On November 09, 2012 Moryo had made preferential allotment of its 63,50,000 shares at the price of Rs.25/- per share to 42 persons (list provided in Annexure A). On January 15, 2013, the shares of Moryo were split in the ratio of 1:2. Consequent to these action of Moryo its total number of paid up shares increased by 12,700,000 shares in FY 2012-13. The shares allotted on preferential basis to aforesaid allottees were locked -in for a period of year till November 08, 2013 in terms of Securities And Exchange Board Of India (Issue of Capital And Disclosure Requirements) Regulations, 2009. Thus, these shares held by the said 42 allottees pursuant to preferential allotment and split were not tradable till November 08, 2013. 4. It was further noted that Moryo had been consistently incurring losses and during FY 201112, FY 2012-13 and FY 2013-14 it had reported losses of Rs.91,043/-, Rs.1,32,370/- and Rs.1,428,739/-, respectively. It was observed that its revenue had increased to Rs.5,34,91,444 during FY 20112-13 as against its revenue of Rs.1,10,00 during FY 2011-12. The company's revenue were generated out of its ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....hose who were closely connected to Moryo and/or were instrumental in the price rise and/or contributed in volume of Moryo during the Examination Period. A set of such entities (given at Annexure - B and hereinafter referred to as the "Moryo Group") was shortlisted on the basis of following parameters, viz. A. Top entities based on gross buy/trade quantity; B. Top entities based on positive contribution in last traded price (hereinafter referred to as "LTP"); C. Promoters/Directors of Moryo who transacted with other members of Moryo Group by way of funds / securities or, had any other relationship with them. 7. During Patch 1(January 15, 2013 to November 08, 2013), the scrip opened at Rs.93.4(post-split price) on January 17, 2013 and closed at Rs 101 on November 08, 2013. The scrip touched a high of Rs.138.6 during this period. During this period, involving 107 trading days, the scrip was traded with an average of 1363 shares per day and an average of 3 trades per day. It was observed that Moryo Group contributed significantly to the volume traded during this period. It is observed that it contributed 34.87% to the gross trade and 69.76 % to the gross b....
X X X X Extracts X X X X
X X X X Extracts X X X X
....Total Trade of Client As Buyer In Mkt AABCO7262J Olympia Multitrading Private Limited 58.8 58.8 42 1625 AABCS1202L Surface Finance Pvt.. Ltd. 22.7 22.7 36 4087 AADCI0407P Isairis Trading Private Limited 23.45 23.45 25 852 AADCR6341P Savita Sonavane 23.45 23.45 23 947 AADCR6342Q Romy Realty Private Limited 13.5 13.5 33 1231 AAECG9026 D Garth Mercantile Private Limited 63.7 35.2 59 6516 AAGPK7011H Shivkumar Kaushik 14.2 14.2 8 200 AAJCM1338F Mahasvin Trading Private Limited 20.1 20.05 3 41 AASCS6284R Shivsathi Mercantile Private Limited 18.65 18.65 6 76 AAWHS0331J Sanjay Jethalal Soni HUF 13 13 3 272 ADMPP1798B Anand Kamalnayan Pandit 35.2 35.2 19 211 AHDPD3526G Amul Gagabhai Desai 27.45 12.05 5 196 ANDPC7557J Suryakant Chanpur 9.55 9.55 12 59 ANGPJ6430Q Saurabh Surendra Jadhav 15.35 15.35 4 66 BVSPS9740P Soni Krupa Sanjay 28.6 21.55 6 505 BVSPS9741N Sanjay Jethalal Soni 20.6 20.6 5 64 11. During t....
X X X X Extracts X X X X
X X X X Extracts X X X X
....v Chirania Huf 141002 17,62,525 3,10,62,883 2,93,00,358 Sachin Gokuldas Mehta 118000 14,75,000 2,24,21,758 2,09,46,758 Sudheer Jugalkishore Chirania HUF 106861 13,35,763 2,42,97,981 2,29,62,219 Yash Devendra Jalan 105000 13,12,500 1,92,52,500 1,79,40,000 Shah Narendra Chintan 91400 11,42,500 1,83,04,220 1,71,61,720 Sumit Jalan 63000 7,87,500 1,13,44,400 1,05,56,900 Manish Jagdish Prasad Saraf 62806 7,85,075 1,37,18,034 1,29,32,959 Amit Jalan 62000 7,75,000 1,11,26,900 1,03,51,900 Maha Devi Agrawal 60000 7,50,000 1,14,97,523 1,07,47,523 Sanjeev Kumar Agrawal 60000 7,50,000 1,13,51,800 1,06,01,800 Anand Kumar Agarwal 60000 7,50,000 1,13,42,000 1,05,92,000 Rajeev Kumar Agarwal 60000 7,50,000 1,15,44,000 1,07,94,000 Priti Akhilesh Mehta 53102 6,63,775 94,92,005 88,28,230 Naresh Kumar Chandan 42000 5,25,000 77,29,000 72,04,000 Devendra Mangturam Jalan 41000 5,12,500 81,34,900 76,22,400 Sanjeev Jugalkishore Chirania 40000 5,00,000 91,34,155 86,34,155 M....
X X X X Extracts X X X X
X X X X Extracts X X X X
....85,000 4. Rockon Capital Market Pvt. Ltd 2,56,62,000 5. Kayaguru Capital Market Pvt. Ltd 1,18,00,000 6. Insight Multitrading Pvt. Ltd 27,50,000 7. Yashasvi Developers Pvt. Ltd 25,00,000 Total 5,04,31,000 14. From the copy of the special resolution passed under section 81(1A) of the Companies Act, 1956 as available on BSE website it is noted that Moryo had disclosed to its shareholders and public that the purpose of aforesaid fund raising through preferential allotment was to meet requirements for - a) capital expenditure including acquisition of company/business b) funding long term working capital requirements c) marketing d) setting up of offices abroad and e) for other approved corporate purposes. 15. The aforesaid utilisation of proceeds of preferential allotment does not appear to be for any of the aforesaid purposes as Moryo did not use them for either capital expenditure or acquisition of company/business or towards working capital or setting up office abroad or for marketing. Further in the common business parlance general corporate purposes provide the framework for ongoi....
X X X X Extracts X X X X
X X X X Extracts X X X X
....hat he was paid by his friend Mr. Deepak Suryakant Chavan Rs.2000 per month for letting his trading and bank account being used. He further stated that he was approached by Mr. Deepak Suryakant Chavan, who guided him in opening of trading account and bank accounts. Mr. Deepak Suryakant Chavan, is also one of the buyers in Patch 2, wherein he had purchased of shares of Moryo to the tune of Rs.1.1 Crore. Mr. Deepak Suryakant Chavan, as evident from his bank account statements is of same economic background as Mr. Saurabh Surendra Jadhav and hence his purchases are not commensurate with his economic capability. An analysis of the bank account statement of Mr. Saurabh Surendra Jadhav and Deepak Suryakant Chavan is listed below: Table: VI Saurabh Surendra Jadhav- Funds Flow Vis-à-vis Trade In Moryo Funds Received From Total Credit Funds Transferred to Total Debit Samskara Sales Agency 50950000 Sumpoorna Portfolio 106400000 Kajal Trading 7555000 Mahasvin Trading Pvt. Ltd 9300000 Keshariya Metal Pvt. Ltd 11970000 Samay Corporation 2500000 Petrel T....
X X X X Extracts X X X X
X X X X Extracts X X X X
....f the allottees and their promoted companies had bank transactions with Moryo Group on more than one occasion. Further some of the allottees had transferred funds to the entities of Moryo Group, who had in turn, transferred them to trading members, on most of the occasions. These facts clearly establish that Moryo Group entities mentioned in below mentioned table were connected to allottees and the funds from the allottees were used by the entities of Moryo Group for capital market activities. A snapshot of the same is provided below:- Table: VII Allottees Moryo Group a)Anand Kumar Agarwal b)Mahadevi Agarwal c)Sanjeev Kumar Agarwal d)Rajeev Kumar Agarwal e)Mukund Madhav Hotels* a)Five X Finance & Investment Ltd b)Banas Finance Ltd c)Esaar (India) Ltd. a) Sanjeev Chirania b) Sudhher Chirania c) Aadishu Securities* d)Perfect Corporate Services* a) Five X Finance & Investment Ltd b) Romy Realty Pvt. Ltd c) Rupak Developers Pvt. Ltd Jalan Texfab - Amit Jalan & Sumit Jalan are directors Romy realty Pvt. Ltd Confidence Trading Company Ltd** Shiv Shankar C Joshi Rupak Developers Pvt. Ltd * Promoted or Director....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e in the scrip and its price increased substantially only on account of purchases (70% of the gross buy) of Moryo Group entities; c) after the expiry of the lock-in period (i.e. in Patch 2) the price and volume both in the scrip further increased astronomically to the extent of 112% increase in price and 3661% increase in volume. Such increase in price and volume was mainly on account of matched trading amongst Moryo Group entities and allottees and their trading above LTP; d) 38 out of the 42 preferential allottees sold total 74,80,122 shares allotted to them by Moryo at the price increased on account of the aforesaid manipulative trading in Patch 2; e) the funds required for purchase of shares by Moryo Group entities had been provided to them through layering of fund transfers. 25. From the above facts and circumstances it can reasonably be inferred that the preferential allottees acting in concert with Moryo Group have misused the stock exchange system to generate fictitious LTCG so as to convert their unaccounted income into accounted one with no payment of taxes as LTCG is tax exempt. I prima facie find that the above modus operandi helped the con....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nd were acting in league/concert to provide LTCG benefits to the allottees. I prima facie find that Moryo Group and allottees used securities market system to artificially increase volume and price of the scrip for making illegal gains to and to convert ill-gotten gains into genuine one. 28. I am of the considered view that the schemes, plan, device and artifice employed in this case, apart from being a possible case of money laundering or tax evasion which could be seen by the concerned law enforcement agencies separately, is prima facie also a fraud in the securities market inasmuch as it involves manipulative transactions in securities and misuse of the securities market. The manipulation in the traded volume and price of the scrip by a group of connected entities has the potential to induce gullible and genuine investors to trade in the scrip and harm them. As such the acts and omissions of Moryo Group and allottees are 'fraudulent' as defined under regulation 2(1)(c) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 ('PFUTP Regulations') and are in contravention of the provisions of regulations 3(a), (b), (c) ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ithout intention of performing it or without intention of change of ownership of such security; 29. In my view a detailed investigation of the entire scheme employed in this case is necessary to find out the role of any other entity therein including the stock brokers involved in transactions as observed in this case, connection amongst the concerned entities and the ultimate owners of funds used for manipulating the price of the scrip. I am also of the view that while SEBI would investigate into the probable violations of the securities laws, the matter may also be referred to other law enforcement agencies such as Income Tax Department, Enforcement Directorate and Financial Intelligence Unit for necessary action at their end as may be deemed appropriate by them. 30. SEBI strives to safeguard the interests of a genuine investor in the Indian securities market. The acts of artificially increasing the price of scrip mislead investors and the fundamental tenets of market integrity get violated with impunity due for such acts. Under the facts and circumstances of this case, I prima facie find that the acts and omissions of Moryo Group and allottees as described above is inimical....
X X X X Extracts X X X X
X X X X Extracts X X X X
....TNA NARESH CHANDAN AADPC1398N 12 KAVITA SHREEEAM SINGHI AMCPS1116K 13 MANISH JAGDISH SARAF AUHPS6394N 14 SANJAY ANCHALIYA AABPA2723R 15 SUCHEK SURESH ANCHALIYA AJNPA8807F 16 NIKUNJ ARVIND DESAI ACJPD9611P 17 VEENU JAIN HUF AAAHJ0626D 18 KAMAL JAJOO ABVPJ3150A 19 BHIKHABHAI H PRAJPATI HUF AAGHB7871J 20 JAGDISH B PRAJAPATI HUF AAEHJ9503P 21 AMARDEEP KADAM ALTPK8993J 22 RAJEEV KUMAR AGARWAL ACPPA7567H 23 MAHA DEVI AGARWAL ABMPA2745F 24 ANAND KUMAR AGARWAL ACMPA4421D 25 SANJEEV KUMAR AGARWAL ABMPA2770N 26 ANILKUMAR AGGRAWAL NEELI AGGRAWAL ACSPA5647B AAJPA1839J 27 PRITI A MEHTA ALAPM5609E 28 SHIVSHANKER C JOSHI GEETABEN S. JOSHI AAEPJ8684M AAJPJ8345A 29 JITENDRA DHIRAJLAL VORA VARUN YOGESH VORA MANTHAN MAHISH VORA AABPV8208Q AFBPV3801J AIAPV6436F 30 NARESH B KHATAR AGYPK5408L 31 VIJAY HASMUKRAI BHAYANI AAEPB8868P 32 SACHIN GOKULDAS MEHTA AACPM6569J 33 CHITAN NARENDRA SHAH DIPANI CHINTAN SHAH AKIPS1272J AMVPS8322G 34 JAYESH POATLAL SHAN KALPANA JAYESH SHAH AAGPS4118M ABDPS8106P ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....L ASIPP8140N 84 LIMESTONE PROPERTIES PVT. LTD AACCL0133G 85 VICTORY SALES PVT. LTD AAACV7299K 86 SAMPADA CHEMICALS LTD AACCS7980C 87 SAGAR GIRISH BHATT ATYPB5376M 88 MAHASVIN TRADING PVT. LTD AAJCM1338F 89 KRUPA SANJAY SONI BVSPS9740P 90 AMUL GAGABHAI DESAI AHDPD3526G 91 GIRIRAJ KISHOR AGARWAL AABPA4928N 33. The stock exchanges and the depositories are directed to ensure that all the above directions are strictly enforced. 34. The persons/entities against whom this Order is passed may file their objections, if any, within twenty one days from the date of this order and, if they so desire, avail themselves of an opportunity of personal hearing before the Securities and Exchange Board of India, on a date and time to be fixed on a specific request, received from the said persons. 35. This order shall come into force with immediate effect. Annexure A: List of Preferential Allottees Sr. No. Name of the Allottees PAN No. Shares Issued Post Split Holding 1 VIVEK KUMAR KEJRIWAL ACXPV7536R 200000 400000 2 VIVEK KUMAR KEJRIWAL HUF AAEHV3659N 200000 400000 ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....00000 200000 39 DEVENDRA JALAN ADBPJ2163K 100000 200000 40 PRATAP UTTAM PUROHIT AFZPP9994A 100000 200000 41 MANISH S SHAH HUF AAFHM0782E 15000 30000 42 NIRAV ANIL SHAH ANISHA NIRAV SHAH AAIPS1195G 15000 30000 Annexure B: Relationship Amongst Moryo Group Entities Sr. No. Client Name and PAN Address Phone No Email Id Director's Name & Address 1 Limestone Properties Private Limited (AACCL0133G) 95A, C R Avenue, 1st Floor, Kolkata, West Bengal - 700073 9748788721 sun_sand1980 @gmail.com Chiranjit Mahanta - 147/1/17, Kantadanga Road (Purba), Bhatpara, Jagaddal, North 24 Parganas, Kolkata, West Bengal - 743129 Vishal Sharma - AB-40, Prafulla Kalan (W), Krishnapur, Near Kestopur, PO Kolkata - 700059 2 Topwell Properties Private Limited (AADCT8403C) 95A.C R Avenue 1st Floor Kolkata West Bengal 700073 9831619980 sun_sand198 [email protected] m Chiranjit Mahanta - 147/1/17, Kantadanga Road (Purba), Bhatpara, Jagaddal, North 24 Parganas, Kolkata, West Bengal - 743129 Debi Prasad Pal - 7, Rabindra Sarani, Kolkata, West....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e & Investment Limited (AABCF5412H) E-109, Crystal Plaza, New Link Road, Opp. Fame Adlabs, Andheri (W), Mumbai - 400053 9322224089 fivexfinance@ gmail.com Girraj Kishor Agarwal - 3A, 1601/1602, Green Acres, Lokhandwala Complex, Andheri ( W), Mumbai, 400053 Tanu Girraj Agarwal - 3A, 1601/1602, Green Acres, Lokhandwala Complex, Andheri ( W), Mumbai, 400053 10 Olympia Multitrading Private Limited. (AABCO7262J) F-15, Lokmanya Shopping Centre, Shivaji Chawk, Staion Road, Bhayander (W), Thane - 401101 8424899416 olympiatrading @yahoo.com Beena Vijay Agrawal, Vijaykumar Nandlal Agarwal & Gajendra Vijay Agarwal F-15, Lokmanya Shopping Centre, Shivaji Chawk, Bhayander (W), Mumbai, 401101 (All 3 Directors have same address) 842489941 842489941 11 Isairis Trading Private Limited. (AADCI0407P) F-15, Lokmanya Shopping Centre, Shivaji Chawk, Staion Road, Bhayander (W), Thane - 401101 8424899416 isairistrading@ yahoo.co.in 12 Garth Mercantile Private Limited (AAECG9026D) F-15, Lokmanya Shopping Centre, Shivaji Chawk, Staion Road, Bhayander (....
X X X X Extracts X X X X
X X X X Extracts X X X X
....s, Lokhandwala Complex, Andheri ( W), Mumbai, 400053 tushar rane-room no. 5, parshuram thakur chawl,, kandar pada , dahisar (e), mumbai, 400068, maharashtra, india madhu rajkumar goel-a/102, bhalchandra complex, sudarshan cross lane, navghar road, bhayander (east), thane, mumbai, 401105, maharashtra, india Tejas Hingu-G-401, Modi Park Building,, Irani Wadi Road No.3, Kandiwali (West),, Mumbai, 400067, Maharashtra, INDIA 18 Kayaguru Capital Market Pvt. Ltd E-109, Crystal Plaza, New Link Road, Andheri, Mumbai400053 9322224089 Kayagurucapi [email protected] m Girraj Kishor Agarwal - 3A, 1601/1602, Green Acres, Lokhandwala Complex, Andheri ( W), Mumbai, 400053 Tanu Girraj Agarwal - 3A, 1601/1602, Green Acres, Lokhandwala Complex, Andheri ( W), Mumbai, 400053 19. Rockon Capital Market Pvt. Ltd E-109, Crystal Plaza, New Link Road, Andheri, Mumbai400053 9322224089 rockoncapital @gmail.com Girraj Kishor Agarwal - 3A, 1601/1602, Green Acres, Lokhandwala Complex, Andheri ( W), Mumbai, 400053 Tanu Girraj Agarwal - 3A, 1601/1602, Green Acres, Lokhandwal....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ar,Diva Post(Diva), Thane, 400612 Ganesh Eknath Chandanshive- a/4- 406,Vignaharta Chs,Near Kanjurmarg Railway Station,Karve nagar,Kanjur Marg - (East), Mumbai, 400042 25 Gulmohar Dealcom Pvt. Ltd (AADCG9091K) om Bhawan, 54/5A Strand Road, KOLKATA700006 vchirawa@g mail.com Vimal Sharma- 29, Shrimo Ke Pas, Ward Nana 14, Tehsil : Chirawa, Dist - Jhunjhunu, Chirawa, 333026, Rajasthan Lipika BhattacharjeeRs.- Rabindrapally Rajarhat Gopalpur, 24 Parganas (North), Rajarhat, 700102, West Bengal 26 Goodpoint Impex Pvt. Ltd (AAFCG0606G) loco colony, 6 sadar near sukanta pathagar, burdwan713101 [email protected] om Sujata Chatterjee- 9, B.B.Halder Lane, Shibpur, Howrah, 711102, West Bengal, India JAYANTA BOSELoco Colony 6 Sadar, Burdwan, 713101, West Bengal, INDIA 27 Shivsathi Mercantile Pvt. Ltd (AASCS6284R) loco colony, 6 sadar near sukanta pathagar, burdwan713101 abcd@gmail. Com Jayanta Bose- Loco Colony 6 Sadar, Burdwan, 713101, West Bengal, India Amarnath MandalKshetia Hindupara, Kshetia Burdwa....
X X X X Extracts X X X X
X X X X Extracts X X X X
....agrant Multitrading Pvt. Ltd (Sr.No.8) do not match with respect to the address of the directors as provided in KYC details. As per the KYC details, director of Insight Multitrading Pvt. Ltd Ltd (Sr. No.4) viz. Gangji Ganesh Ravariya & Fragrant Multitrading Pvt. Ltd (Sr. No.8) viz. Andiben Gangji ravariya have common address viz. Shop No. 6, Badhut CHS, Datta Mandir Road, Vakola Bridge, Santacruz (E), Mumbai - 400055. v) Limestone Properties Pvt. Ltd (Sr.No.1) & Topwell Properties Pvt. Ltd (Sr.No.2) have same address and email id viz. 95A, C R Avenue, 1st Floor, Kolkata, West Bengal - 700073 & [email protected] respectively. Chiranjit Mahant is a common director in both the entities. Topwell Properties Pvt. Ltd (Sr.No.2) & Helpful Investment advisory Pvt. Ltd (Sr.No.29) have common director viz. Debi Prasad Pal. Therefore Limestone properties Pvt. Ltd, Topwell Properties Pvt. Ltd & Helpful Investment advisory Pvt. Ltd are related to each other. vi) Goodpoint Impex Pvt. Ltd (Sr.No.26), Shivsathi Mercantile Pvt. Ltd (Sr.No.27) & Shallot Dealtrade Pvt. Ltd (Sr.No.28) have same address and email id viz. Loco Colony, 6 Sadar Near Sukanta Pathagar, Burdwan-713101 &....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Pvt. Ltd, Romy Realty Pvt. Ltd, Moryo Industries Pvt. Ltd, Kamalakshi Finance Coproration Ltd, Surface Finance Pvt. Ltd, Perfect Corporate Services, Dhananjay Enterprises, & Somnath Corporation . 3 Moryo Industries Ltd (AACCM5166G) June 04, 2013 to August 07, 2013 C On analyzing bank statement of the client for the period during which client has traded, having bank account in Axis Bank, Mumbai branch having account no.912020048334949, it was observed that the client has received / transferred funds from/to various entities including Essar India Ltd, Rupak Developers Pvt. Ltd, Five X finance & Investment Ltd, Insight Multitrading, Fragrant Multitrading Pvt. Ltd,Giriraj Kishor Agarwal, Kayaguru Insurance Broker, Kayaguru Wellness Pvt. Lt, Shreenath Commercial & Finance Ltd, Rockon Fintech Ltd,Kamalakshi Finance Corporation Ltd , & Handful Investrade Pvt. Ltd. 4 Shree Nath Commercial And Finance Limited (AADCS8871M) January 22, 2014 to February 05, 2014 On analyzing bank statement of the client for the period during which client has traded, having bank account in Axis Bank, Mumbai branch having account no. 909020038885084, it was observed that the client has r....
X X X X Extracts X X X X
X X X X Extracts X X X X
....the client has received / transferred funds from/to various unidentified entities. However, none of the entities was observed to be dealing in the scrip or prima facie connected / related to the entities dealing in the scrip or to the Company. 10 Garth Mercantile Private Limited (AAECG9026D) June 01, 2013 to July 31, 2014 On analyzing bank statement of the client for the period during which client has traded, having bank account in The Bharat Co-op Bank (Mumbai) Ltd, Mumbai branch having account no. 121/2451, it was observed that the client has received / transferred funds from / to various entities including Somnath Corporation, Dhananjay Enterprises, Kehsariya Metals Pvt. Ltd. 11 Samskara Sales Agency Pvt. Ltd (AATCS7717A) March 28, 2014 to August 25, 2014 On analyzing bank statement of the client for the period during which client has traded, having bank account in Axis Bank, Mumbai branch having account no. 914020011364920, it was observed that the client has received / transferred funds from/to various entities including Saurabh Surendra Jadhav, Deepak S Chavan, Keshariya Metal Pvt. Ltd,Gulmohar Dealcom Pvt. Ltd, Umesh Tiwari,Ganesh Eknath Chandan Shiv,....
X X X X Extracts X X X X
X X X X Extracts X X X X
....d, 17 Deepak S Chavan (AJAPC0258P) Jan 01, 2013 to September 07, 2014 On analyzing bank statement of the client for the period during which client has traded, having bank account in ICICI Bank, Mumbai branch having account no. 100005000451, it was observed that the client has received / transferred funds from/to various entities including Kamalpushp Barter, Umesh Tiwari,Keshariya Metal Pvt. Ltd, Samskara Sales Agency & Mahasvin Trading Pvt. Ltd. From Table B, the following relationships are established:- i) Moryo Industries is related to Rupak Developers, VRP Financial Service Ltd, Five X finance , Kamalakshi Finance, G K Agarwal & Essar India. ii) As per the account statement Tisha Tushar Rane and Tushar Rane have same address. Tisha Rane and Tushar Rane are relate to Mangesh Madhukar Dhotre, Giris R Goel, Wakil Rajbhar, Beena Agarwal, Sapna R Jatwal and Krupali Dhotre. iii) Ganesh Eknath Chandan Shiv, Samskara Sales Agency, Saurabh Surendra Jadhav, Samskara Sales Agency, Gulmohar Dealcom, Suryakant Chanpur & Deepak S Chavan are related to each other. Suryakant Chanpur and Deepak S Chavan are also directors in a company Bhudhil Commt....
X X X X Extracts X X X X
X X X X Extracts X X X X
....092. Vasudev Panchal 1.Shares common address with Deepak Raval viz.60/3, Jariwala Bldg,Sane Guruji Road, Tardeo, Mumbai-400034 2. The above mentioned address is similar to the address of Ajay Mohanlal Bhatt & Victory Sales Pvt.. Ltd. Romy Realty 1. Off market with Deepak Raval & Sanjay Trivedi Shiv Kumar Kaushik 1. As per KYC, he is the proprietor of Deepti Sales Corporation whose contact person is Mr. Pradeep Dhanuka, Director of Rupak Developers Pvt.. Ltd. 2. Shivkumar Kaushik alongwith Tushar Rane and Madhukar Dhotre were preferential allotees in Krishna Venture Ltd. At the time of allotment Vijay Agrawal and Beena Agrawal were directors in Krishna Vnetures Ltd. Anand Kamalnayan Pandit 1. Is one of the preferential allotee in Kamalakshi Finance Corporation Ltd. Hence connected/known to Kamalaskhi Finance corporation Ltd From Table D: Following relationship could be observed, i) Ajay Mohanlal Bhatt, Victory Sales Pvt. Ltd & Vasudev Panchal are related to each other. ii) Romy Realty Pvt. Ltd, Ajay Mohan Lal Bhatt, Victory Sales Pvt. Ltd & Vasudev Panchal are connected to each other. iii) Anand Kamalnayan Pandit is c....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ATE LIMITED 1949901 195.73 149 226.87 16 AAFCG0606 G GOODPOINT IMPEX PRIVATE LIMITED 248050 202.44 17 AAGPK7011H SHIVKUMAR KAUSHIK 107900 198.61 18 AANCS5873 M SADAKIRTI DEALER PVT. LTD 40425 230.00 19 AARCS4827R SHALLOT DEALTRADE PRIVATE LIMITED 58783 211.56 20 AASCS6284R SHIVSATHI MERCANTILE PRIVATE LIMITED 107715 186.02 21 AATCS7717A SAMSKARA SALES AGENCY PRIVATE LIMITED 136211 227.02 22 AAWHS0331J SANJAY JETHALAL SONI HUF 50905 225.94 15510 226.50 23 ADMPP1798B ANAND KAMALNAYAN PANDIT 409000 222....