Order in the matter of M/s Veerkrupa Jewellers Limited.

What is this order about?

This order concerns M/s Veerkrupa Jewellers Limited and 16 other individuals and entities for alleged violations related to misleading publicity and market manipulation during the company's SME IPO.

Who it concerns

M/s Veerkrupa Jewellers Limited, Mr. Chirag Arvind Shah, M/s Vivid Mercantile Limited, Mr. Satishkumar Ramanlal Gajjar, Mr. Rakshit Mahendra Shah, M/s First Overseas Capital Limited, Mr. Rushabh Shroff, Mr. Satish Vadilal Sheth, M/s Stockk Seva Marketing Private Limited, Mr. Meghkumar Mahendrakumar Shah, Mr. Bhavya Dhiman, Mr. Dipak Mathurbhai Salvi, M/s Bhavesh A Vora HUF, Mr. Dharmesh Maldevbhai Godhania, Mr. Akshay Rajendrabhai Oswal, M/s NNM Securities Private Limited, M/s Miker Financial Consultants Private Limited

What was found or directed

• Violations of Sections 12A(a), 12A(b), 12A(c) of SEBI Act and PFUTP Regulations
• Violations of ICDR Regulations by Noticee No. 6
• Violations of Merchant Bankers Regulations by Noticee No. 6
• Disgorgement of wrongful gain for Noticees No. 3, 10, 11, 12, 13, 14
• Noticees No. 9 and 12 admitted charges by not replying to SCN
• Noticees No. 10 and 11 failed to appear for hearing
• Noticees No. 10 and 11 violated PFUTP Regulations by failing to respond to summons and appear for hearing