Name and details of the company
V Marc India Ltd is an SME company listed in the NSE’s SME segment in March 2021
Summary of the case
V Marc India Ltd, a company listed on NSE’s SME segment, prima facie orchestrated by the promoter and company management, along with connected parties. The scheme appears to have been devised before the listing of the scrip and was aided by the presence of persons who were prima facie connected to the promoter/ management of the Company and held a substantial number of shares in the Company. The cornered shares appear to have supported the prima facie fraudulent activity of manipulation of the volume and price of V Marc shares thereby eventually enabling the sale of shares at inflated prices to unsuspecting investors.
Diagram illustrating Pump and dump by promoter and group
Link to the full order: