sebi:1300689279211
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Facts / Headnote
Noticee directed to restrain from dealing in securities for 3 years
Provisions invoked
- s. 11B
Regulations
- Reg. 4
- Reg. 12
Parties
- Shri Suhas Patil
Holding
Shri Suhas Patil was held to have violated Regulation 4(a), (b) and (d) of the FUTP Regulations, 1995 and was directed to restrain from dealing in securities for a period of 3 years.
Full text
The ex-bonus date for the scrip was 21.04.1999 and the record date for the bonus was fixed on 20.05.1999. For the period 22.12.1998 to 31.12.1998 the average traded volume in the scrip at NSE was 6, 171 shares. For the period 01.01.1999 to 09.02.1999 the average traded volume in the scrip was 5, 896 shares. Thereafter, the volumes in the scrip suddenly showed increasing trend and as on 18.02.1999 the traded volumes in the scrip was 12, 100 shares. For the period February 1999 to March 1999, the average traded volume was in the range of 12, 000 shares. The volumes subdued during the 3rd week of March 1999 and for the period 10.03.1999 to 20.04.1999 the average traded volume in the scrip was 6, 165 shares. The volumes once again started increasing from the last week of April 1999 and to the later part of May
(hereinafter referred to as "the Regulations") under S.11B of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as "the Act"). The letter was returned undelivered. One again show cause notice was sent on 08.03.02 which was also returned undelivered.
through his bank account maintained with Vysya Bank, Bandra West Branch. A perusal of this account indicated that Shri Patil had received credits from the account of the Member and simultaneously, he issued cheques to various members / entities / individuals who have dealt in the scrip of SIL during the period under investigation. Instances of such fund transfers received from the account of the Member and simultaneous payments made by Shri Patil to various brokers /entities etc are explained as under:
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