sebi:AP/AO/17/2009-10
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Facts / Headnote
Noticee held to have violated Regulation 4(1), 4(2)(a), (b) and (g) and penalty of Rs. 5 lakh imposed under Section 15HA
Provisions invoked
- s. 15A
- s. 15
- s. 15H
- s. 15J
- s. 15I
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(1)
Parties
- Shri Bhagwandas Aggarwal (HUF)
Holding
The noticee violated Regulation 4(1), 4(2)(a), (b) and (g) of the PFUTP Regulations by participating in circular/synchronized reversal trades, and is liable to a penalty of Rs. 5 lakh under Section 15HA of the SEBI Act, 1992.
Full text
Page 2 of 13 03. The noticee vide his letter dated June 16, 2006 sought 15 working days to submit his response to SCN. Vide letter dated June 26, 2006 the noticee filed a detailed reply to SCN refuting the charges leveled against him.
Page 3 of 13 Regulation. 4. Prohibition of manipulative, fraudulent and unfair trade practices (1) Without prejudice to the provisions of regulation 3, no person shall indulge in a fraudulent or an unfair trade practice in securities.
Page 4 of 13 on December 15, 2003, an increase of 84.46% during the period of investigation. The Bombay Stock Exchange (hereinafter referred to as "BSE") was also asked to conduct an investigation for the above mentioned period and submit its report to SEBI. BSE submitted its report to SEBI on March 04, 2005.
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Source: SecMarx — sebi:AP/AO/17/2009-10. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.