sebi:EAD-12/AO/SM/164-167/2017-18
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Facts / Headnote
Penalty imposed on Noticees for contravention of Section 12A of SEBI Act, 1992 and PFUTP Regulations; Noticees directed to remit penalty within 45 days
Provisions invoked
- s. 15
- s. 12A
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 3
- Reg. 12(1)
- Reg. 4(1)
- Reg. 3(a)
- Reg. 12
Parties
- Noticee No. 1 (Promoter cum Managing Director)
- Noticee No. 2 (Executive Director)
- Noticee No. 3 (spouse of Noticee No. 2)
- Noticee No. 4
Holding
The Adjudicating Officer held that Noticees No. 1, 2, 3 and 4 violated Section 12A(a), (b), (c) of the SEBI Act, 1992 read with Regulations 3(a)-(d) and 4(1), 4(2)(a), (e) of the PFUTP Regulations by acting in concert to manipulate the price of TCP Ltd shares through coordinated small-quantity trades, and imposed penalties under Sections 15HA and 15HB of the SEBI Act.
Full text
In the matter of M/s TCP Ltd Page 2 of 23 1992 read with Regulations 3(a),(b), (c), (d) read with Regulations 4(1) 4(2) (a)and (e) of PFUTP Regulations. The above Noticee shall be collectively referred to as “Noticees”
In the matter of M/s TCP Ltd Page 3 of 23 5.3. The relationship of the Noticees is placed below: Noticee No. Basis of Connection 1 Noticee No. 1, Promoter cum Managing Director of the Company and also Director of M/s Thiruvalluvar Textiles Pvt Ltd 2 Noticee No. 2 is the Executive Director of the Company since March 01, 1992. 3 Noticee No. 3 is the spouse Noticee No. 2. 4 Noticee 4 has accepted that he know few friends of Noticee 1.
In the matter of M/s TCP Ltd Page 4 of 23 Trade Date Buy/ Sell Buyer / Seller Name Trade d Qty Traded Price Buy/ Sell Order Price Buy /Sell Order Qty LTP at Order Entry
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Source: SecMarx — sebi:EAD-12/AO/SM/164-167/2017-18. 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.