bogus LTCG. The stocks which were the subject matter of transaction were
referred to as "penny stocks" and the companies whose shares were ... dollar it is referred to as a penny stock. So
far as the Indian concept, "penny stocks" are shares which are traded
Penny Stock: is a stock that trades at a relatively
low price and market capitalization. These types of
stocks are generally considered to be highly ... chooses one of such penny
stocks for the implementation of the scheme. The
promoters/directors of the penny stock company are
paid some cash commission
Penny stocks are those stocks
which trade at very low price and whose market
capitalisation is very low. The low price of the penny
stock ... Penny stocks are those
stocks which trade at very low price and whose market
capitalization is very low. The low price of the penny stock
which
carried out survey/search operations and in
large number of penny stock companies the
share prices were allegedly artificially
raised on the stock exchange ... 2022
stock exchange. The purchase was through a
back date contract note in cash. The shares
belongs to a penny stock company, with no
credentials
written Submissions of Learned DR:-
"1. Credentials of Penny Stock Companies: Statements of Operators
ITA Nos. 2373 to 2376/Bang/2018
Page ... statement of Shri Jagadish Prasad Purohit , the
name of the Penny Stock Companies i.e., Blue Circle Services Ltd
(BCSL) and PS IT Infrastructure
investigation of the Kolkata wing finally identified 84
of such penny stock companies out of which Cressanda Solutions
Ltd. was found ... make the
beneficiary buy some shares of a pre-determined Penny stock
company controlled by them. These shares are transferred to the
beneficiary
Penny Stock Companies utilized by
the Stock Brokers for providing the bogus
accommodation entries. Therefore, examining
suspicious sale transaction of shares
(penny scrip), process began ... stock exchange. The purchase was through a
back date contract note in cash. The shares
belongs to a penny stock company, with no
credentials
penny
stock company is negligible. Even though the net worth of the
company and the business activity of the company is negligible the
share prices ... fact that transactions such as purchase
and sale of shares of penny stock companies are being used for the
purpose of money laundering activities wherein
entries of LTCG/LTCL in penny stocks was unearthed. As a result of
investigation 84 BSE listed penny stocks which have been used for generating ... more in nature to flagtrading transactions in
listed stock of penny stock company as against credible and definite information that
all transactions in shares
2023
Sadhuram Balani
In this scheme, the shares of the penny stock companies are
acquired by the beneficiaries of LTCG at very low prices generally ... listed penny
stock and the beneficiaries receive shares of the listed penny stock
in exchange of the shares of private limited company.
Thereafter, the prices
