sebi:BM/AO-45/2010
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Facts / Headnote
Ex-parte penalty imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 4
Parties
- Ekta Vyapar Pvt. Ltd
Holding
The Noticee violated regulations 4(2)(a) and (e) of PFUTP by synchronized and cross deals creating artificial volumes and false market in BPL scrip, and is liable to monetary penalty of Rs.1,50,000 under section 15HA of SEBI Act.
Full text
Page 2 of 11 referred to as “AKK”), Ahilya Commercial Pvt. Ltd (hereinafter referred to as “ACPL”), and Rajendra Prasad Shah (hereinafter referred to as “RPS”), constituted 85% of the volume in the scrip of BPL. The role of the brokers and the entities who had traded in the scrip of BPL was scrutinized. It was alleged that through collusion with the brokers and their clients, shares of BPL were transacted in such a manner that led to creation of artificial volumes in the scrip and was designed to create a false market leading to significant price movement in the scrip.
Page 3 of 11 Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Rules’) to inquire into and adjudge the alleged violations of provisions of PFUTP committed by the Noticee.
Page 4 of 11 was made to search for alternate address on the website of Ministry of Corporate Affairs, however no other address could be found.
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Source: SecMarx — sebi:BM/AO-45/2010. 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.