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Home Business

Loss of ₹ 20000 Crore of Investors due to the mistake of SEBI!

A Digital Blogger by A Digital Blogger
July 22, 2022
in Business
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Loss of ₹ 20000 Crore of Investors due to the mistake of SEBI!
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#adigitalblogger #sebi #insidertrading
PCJ Insider Trading Scam:

The share of PC Jewellers was running upwards almost throughout the 2017, yet something drastically changed in 2018. To be precise, since Jan 19, 2018, the jewellery chain from New Delhi lost over 75% of its market value in just 4-5 months, which was worth thousands of crores.

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How did seemingly strong business of 90 outlets across 70 Indian cities, and brand ambassadors which included Akshay Kumar, Kriti Kharbanda; turned into such a bad stock?

What led to such a downfall?

It all started in January 2018 when Mumbai-based financial and technology company Vakrangee bought shares in PC Jeweller. However, none of the exchange filings showed who the shares were bought from.

Then, in April, the company disclosed in a filing to the stock exchange that one of its promoters, Padam Chand Gupta, had gifted some of his shares to his family members through off-market transactions. This triggered concerns over transparency and the quality of disclosures by PC Jeweller.

Now SEBI got suspicious and began investigation, The regulator noted that late Padam Chand(founder owner) and Balram Garg (Ex MD) communicated UPSI (Unpublished Price Sensitive Information) with regard to the proposal for buyback of equity shares and its subsequent withdrawal to Shivani Gupta(Daughter In Law), Sachin Gupta(Son), Amit Garg(nephew) (all relatives of PCJ family) and QDPL(A firm).

This in SEBIs eyes amounted to a basic insider trading case.

With such news going around, the PCJ stock had already wiped out 83% capital of investors by May 3, 2018.

But as usua SEBI took too long to pass its order. On May 11, 2021 fined these four a total of 1 crore and barred them from trading for 1 year and specifically in PCJ share for 2 years.

However this ruling was challenged in Supreme court by Balram Garg and the case has turned out to be a historic Insider Trading case as SEBI’s order was quashed based on the fact that SEBI has failed to establish that Insider Trading had occured, further court noted that the burden of proof of allegation of Insider Trading lies on SEBI.

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Tags: breaking newsbusiness and financial newsbusiness and financial news todaybusiness news todaybusiness news usa todayCroredueforex news todayglobal financial crisisglobal financial newsinvestorslatest news todaylossmistakenews todaySEBIstock market news todayworld news
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Comments 45

  1. A Digital Blogger says:
    3 years ago

    Here are the complete details of this landmark case: https://youtu.be/_mNn96r_lZc

  2. Sudipta Das says:
    3 years ago

    Insider trading har ek stocks me hai…

  3. guri says:
    3 years ago

    Ye fault SEBI ka nahi PCJ ka hai. Proof nahi mile iska matlab ye nahi ki allegation sach nahi thi.
    Nahi to stock price kab ka recover kar jata.
    Titan bhi toh chal hi rha hai kab se. PCJ walo ne corrupt supreme court ko paisa khila ke case rafa dafa krwaya. SEBI ki allegation true thi. Wrong information de rhe ho jayada gyaani ban kr youtube pe.

  4. Srimanta Kumar Misra says:
    3 years ago

    PCJ demonetisation times me gold sales me gadbad ki thi.

  5. B S says:
    3 years ago

    Ab sebi ke upar case karna hoga

  6. Sanjay kumar satapathy says:
    3 years ago

    20000 core ka loss kya SEBI bharega 🤬🤬🤬

  7. Traders Life says:
    3 years ago

    Andar bahut gadbadh hota h market me logo ko kuchh nhi pata chalta

  8. Sidhartha Rustagi says:
    3 years ago

    yani abhi purchase krna chiye

  9. Game of Life says:
    3 years ago

    To kya pcj sebi ke uper case nhi kr skta apni bharpayi ke liye or maanhani ke liye..

  10. Jeewan Singh rajput says:
    3 years ago

    Case nu chhad
    Paisa la diya pc jewelry ch payo

  11. 𝐁𝐫𝐚𝐧𝐝𝐞𝐝 𝐁𝐨𝐲 says:
    3 years ago

    Sabi me padhe likhe Gadhe hai…

  12. Amit Ranjan says:
    3 years ago

    SEBI ke wajah se..Sahara ke investment Wale bhi loss me he.. SEBI par action lena chahiye sarkar ko…

  13. Aman Bansal says:
    3 years ago

    Action should be taken against SEBI for such fraud info. and market losses

  14. poco phone says:
    3 years ago

    Relatives ko btane ki kya jaroorat hai, unofficial friends ko batao, usse profit lelo fir😗

  15. ravi kathar says:
    3 years ago

    Pc jewellers have gave good breakout one can see 45 level soon

  16. rahul pandey says:
    3 years ago

    Sebi he jagah galat hai humesa galat faisle hi deta hai

  17. Nilesh Patil says:
    3 years ago

    Are looking mt bata yaar

  18. Ravi Bhadauria says:
    3 years ago

    Bhai, SEBI ne sahi Kiya hai!! Aapne yaha ki corrupt judiciary Paisa leke kuch bhi phaisla de sakti hai!! Insider trading me evidence data hi hai jab PC jewellers aapne stock me trading Kara raha hai family members se. Sure insider trading hai!!

  19. CHINMOY KOLAY says:
    3 years ago

    Proof na milne ka matlab ye nahi he ki scam hua hi nahi

  20. mayank yadav says:
    3 years ago

    Supreme court bevkoof hote judge all courts are idiots. He would have acquitted the rapists and murderers and terrorists as well.

  21. RAHUL GUPTA says:
    3 years ago

    Sebi ka yahi kaam he investor ko barbad karna

  22. Indranil Jana says:
    3 years ago

    Sebi se sab paysa wosul karo

  23. kamal yadav says:
    3 years ago

    Company can file defamation claim on SEBI

  24. raushan shukla says:
    3 years ago

    Omg don't invest

  25. Sanu Agarwal says:
    3 years ago

    PC jewellers ek chor co thi aur hai jo kolkata mein rehte hai woh bhut achi tarike se jante hai. SEBI insider trading ka case chalaya woh thk hai but ye co ka real value 0 hai.

  26. Ok2 says:
    3 years ago

    Ab sebi par case nahi banta?

  27. Soniya Gamer says:
    3 years ago

    20000 cr. Ka nuksan To vo paisa mila kisko

  28. Rajendra Parmar says:
    3 years ago

    To sebi par case karo and jo loss hua hai usko with interests ke saath paise de

  29. Umesh Kumar Rai says:
    3 years ago

    Sebi ko paisa dena chahiye pc jewellers ko. Kya se kya bana diya 0c jewellers k shares ko

  30. Shubham Vashisht says:
    3 years ago

    Can we sue sebi for providing wrong information to investor under act right to information??

  31. S Jazzz says:
    3 years ago

    To sebi should me pay pcj the loss

  32. diptajeet das says:
    3 years ago

    SEBI k 1 hi kam hain investors ko lutna… Kuch din hotey nah hotey 1 naya rule leke ajata hain…

  33. kaushik kumar says:
    3 years ago

    Bollywood jisme jata wohi dub jaati ha

  34. krishana jhunjhun wala says:
    3 years ago

    Sebi hai to sambhav hai

  35. Goofy says:
    3 years ago

    Bhai log federal bank maintain to buy rakho rakesh bhai ne bhi stakes hold kiye hai motilaloswal ke taraf se 31% upside strategy hai 😊

  36. MD Shakilsaikh says:
    3 years ago

    Sir Mai Kis Company me Invest Karu

  37. Sourav Ghosh says:
    3 years ago

    Bhai sebi ka galti nahi…..sebi is manipulator…….Sebi ek corruption breeding Institute……

  38. RohitGTA says:
    3 years ago

    Apki is video ke baad pc jewellers ke share asmaan chu re hai.
    Ap toh Elon musk ban gaye.

  39. Deepjyoti Saha says:
    3 years ago

    I was one of the investor and lost 50k in PCJ …

  40. Raj Soni says:
    3 years ago

    India me ye hi hota hai,sirf aligation lagne se bohot nuksan ho jata hai.

  41. Shivam Sharma says:
    3 years ago

    Sir great news to hear

  42. Suraj Singh says:
    3 years ago

    Bc mere paas 25k share thhe 24 m entry thi meri 27. Sell kr diya maine.

  43. Roy says:
    3 years ago

    Yeh India hai bhai.. Yaha sabkuch hota hai

  44. Jatin Ahuja says:
    3 years ago

    Thanks bhai teri video sa mera paisa bana hai maina tumhari video dekh ka 500 share buy kiya tha @24 rs paisa double sa jayda toh ho gaya bas sale ho jaya jaldi bas current price 57 hai 48 tak bhi sale ho gaya toh apna paisa toh double ho hi jayenga thanks.

  45. Abhinash Oberoi says:
    3 years ago

    Sebi mafia Cartel gang hai…

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