sebi:EAD/BJD/NJMR/VS/83-92/2018-19
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Facts / Headnote
Charges against Noticees 1-9 established; Noticee-10 (Himanshu Panchal) given benefit of doubt and allegation not sustained; monetary penalty imposed under Section 15HA of SEBI Act on Noticees 1-9
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 3
- Reg. 3(a)
Parties
- Divesh Singh
- Tanu Sudan
- Romit Mehta
- Motilal Ahuja
- Ravi Dewan
- Reena Verma
- Mithun Singh
- Jasvinder Kumar
- Balwant Kaur
- Himanshu Panchal
Holding
Noticees 1-7 were found to have created artificial volume in SEIL shares through synchronized and reversal trades and contributed to artificial price rise through LTP contribution at BSE and NSE; Noticee 8 (Jasvinder Kumar) created artificial volume through self-trades at NSE; Noticee 9 (Balwant Kaur) contributed to artificial price rise; Noticee 10 (Himanshu Panchal) was given benefit of doubt and the allegation against him was not sustained. Noticees 1-9 were held liable for monetary penalty under Section 15HA of the SEBI Act.
Full text
_____________________________________________________________________________________ Adjudication Order in the matter of S E Investments Ltd Page 2 of 29
_____________________________________________________________________________________ Adjudication Order in the matter of S E Investments Ltd Page 3 of 29
_____________________________________________________________________________________ Adjudication Order in the matter of S E Investments Ltd Page 4 of 29
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Source: SecMarx — sebi:EAD/BJD/NJMR/VS/83-92/2018-19. 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.