sebi:EAD/SR/SM/AO/35/2018-19
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Facts / Headnote
Show Cause Notice disposed of without imposition of any penalty
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 7
- Reg. 3
- Reg. 4(1)
- Reg. 4(2)(a)
Parties
- Priyasha Meven Finance Ltd.
Holding
The Noticee was not found to have violated regulations 4(1), 4(2)(a) and 4(2)(g) of PFUTP Regulations, 2003 or clauses A(2), A(3), A(4) and A(5) of the Code of Conduct for Stock Brokers, and the Show Cause Notice was disposed of without imposition of any penalty.
Full text
Adjudication Order in respect of Priyasha Meven Finance Ltd. in the matter of Twilight Litaka Pharma Ltd Page 2 of 8 APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of Priyasha Meven Finance Ltd. in the matter of Twilight Litaka Pharma Ltd Page 3 of 8 4. It was alleged in the SCN that the Noticee indulged in repeated self-trades and thereby created artificial/fictitious volume in the market and gave a false and misleading appearance of trading in the scrip of TLPL. It is alleged that during the investigation period, following self-trades were carried out by the Noticee: Stock Exchange Buy and Sell Broker Total self- trade volume Total self- trade count No of days on which self- trades done % of self- traded quantity to market volume
Adjudication Order in respect of Priyasha Meven Finance Ltd. in the matter of Twilight Litaka Pharma Ltd Page 4 of 8 c) If yes, then what would be the monetary penalty that can be imposed upon the Noticee, taking into consideration the factors mentioned in section 15J of the SEBI Act, 1992 read with rule 5(2) of the Adjudication Rules, 1995?
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Source: SecMarx — sebi:EAD/SR/SM/AO/35/2018-19. 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.