sebi:BS/DP/2017-18/1673-1676
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violations established; penalty of Rs. 5,00,000 imposed on each of the four Noticees
Provisions invoked
- s. 15
- s. 12A
- s. 15H
- s. 15I
- s. 15J
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- Goodlife Commercial Pvt. Ltd.
- Fame Dealers Pvt. Ltd.
- Jagmata Agency Pvt. Ltd.
- Alternative Dealers Pvt. Ltd.
Holding
Noticee Nos. 1 to 4 violated Regulations 3(a) to (d), 4(1), 4(2)(b) and (e) of the PFUTP Regulations read with Section 12A(a) to (c) of the SEBI Act and each was held liable to monetary penalty under Section 15HA of the SEBI Act.
Full text
Page 2 of 11 (hereinafter referred to as PFUTP Regulations) by Goodlife Commercial Pvt. Ltd., Fame Dealers Pvt. Ltd., Jagmata Agency Pvt. Ltd. and Alternative Dealers Pvt. Ltd. (hereinafter referred to as Noticee Nos. 1 to 4 respectively and collectively as Noticees)
Page 3 of 11 7. Vide Hearing Notice dated October 10 2016, Noticees were granted an opportunity of being heard on November 08, 2016. It is seen that the Noticees failed to attend the hearing scheduled on the said date.
Page 4 of 11 SEBI Act Prohibition of manipulative and deceptive devices, insider trading and substantial acquisition of securities or control. 12A.No person shall directly or indirectly— (a) use or employ, in connection with the issue, purchase or sale of any securities listed or proposed to be listed on a recognized stock exchange, any manipulative or deceptive device or contrivance in contravention of the provisions of this Act or the rules or the regulations made thereunder; (b) employ any device, scheme or artifice to defraud in connection with issue or dealing in securities which are listed or proposed to be listed on a recognised stock exchange; (c) engage in any act, practice, course of business which operates or would operate as fraud or deceit upon any person, in connection with the issue, dealing in securities which are listed or proposed to be listed on a recognised stock exchange, in contravention of the provisions of this Act or the rules or the regulations made thereunder;
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:BS/DP/2017-18/1673-1676. 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.