Adjudication Order in the matter of trading activities of certain entities in the scrip of V…

This is an adjudication order by SEBI examining alleged violations of the Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) Regulations by 11 individuals regarding their trading activities in the shares of Veer Global Infraconstruction Limited between March 2021 and September 2022.

Mr. Ranjan Sahay, Mrs. Bhavana Sahay, Mrs. Rita Kumar, Mr. Vibhash Chandra, Mrs. Shahnaz Khatoon, Mr. Satish Ramvilas Upadhyay, Mrs. Seema Satish Upadhyay, Mr. Sanjay R Gupta, Mrs. Sunita Sanjay Gupta, Mrs. Jagdish Narayan Patil, Mr. Vikramsingh Govindsingh Rajput, and Veer Global Infraconstruction Limited.

• SEBI initiated proceedings under Section 15-I of the SEBI Act for alleged PFUTP violations.
• The investigation period was defined as March 19, 2021, to September 21, 2022.
• SEBI identified connections between the 11 noticees based on KYC records, bank statements, Call Data Records (CDRs), common addresses, and off-market share transfers.
• The order notes that promoter shareholding in Veer Global increased from 65.71% in March 2021 to 70.05% in September 2022.
• The provided text contains only the background, allegations, and factual observations; it does not contain the final findings of violation, penalty amounts, or specific directions imposed by the Adjudicating Officer.

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