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[circularsnordersg]

Order in Respect of Jalaj Batra in The Matter of Vijay Textiles

That he prima facie indulged in creating false or misleading appearance of trading in thescrip of SCL, dealt in security not intended to effect transfer of beneficial ownership andinstead intended to operate only as a device to inflate, depress or cause fluctuations inthe price of the scrip SCL. Shri Jalaj Batra has thus prima facie manipulated the price ofthe scrip SCL and violated Regulations 4 (1), 4 (2) (a), (b), (e) of SEBI (Prohibition ofFraudulent and Unfair Trade Practices relating to Securities market) Regulations, 2003.

In the said interim order cum Show Cause Notice it was also mentioned that any objections regardingthe order may be filed within 15 days from the date of the order. The Noticee had soughtinspection of documents which was duly given to the Noticee. The Noticee, however, did notsubmit any reply on allegation in the interim order cum Show Cause Notice. The notices providingopportunities of personal hearings were returned undelivered and the Noticee did not avail anyof them. Subsequently, vide his letter dated April 30, 2015, the Noticee requested for vacatingthe interim order. The Noticee availed the opportunity of personal hearing on June 11, 2015 whenhis authorised representatives appeared before me and made submissions and sought time tofile written submissions. The written submissions were submitted by the Noticee on June 30

The summons sent were SEBI in the matter of VTL were never delivered to theNoticee and there is no acknowledgement of the delivery of the summons to theNoticee. The Noticee during the relevant period mostly stayed abroad and wastravelling and was never aware of the summons.