sebi:EAD-2/AO/12/2012
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Facts / Headnote
Violations of Regulations 4(2)(a), (b) and (g) of PFUTP Regulations established; monetary penalty of Rs. 2,00,000 imposed under Section 15HA of SEBI Act.
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 5
Parties
- MK5781 (Noticee)
Holding
The Noticee violated Regulations 4(2)(a), (b) and (g) of the PFUTP Regulations by executing structured/synchronized trades with counterparty Mr. Rajesh Kumar in TTML-JUL-08-37.5-PA option contract, creating false and misleading appearance of trading. A monetary penalty of Rs. 2,00,000 was imposed under Section 15HA of the SEBI Act.
Full text
Page 2 of 9 Trade Practice relating to Securities Markets) Regulations, 2003 (hereinafter referred to as ‘PFUTP Regulations’).
Page 3 of 9 structured deals with Mr. Rajesh Kumar violated the aforesaid provisions of PFUTP Regulations. 5. The SCN was sent through Registered Post Ack. Due but the same returned undelivered. Therefore, the said SCN was affixed at the last known address of the Noticee. The Noticee failed to reply to the SCN. In the absence of any reply to the SCN, I issued a hearing notice to the Noticee asking him to appear before me on March 19, 2012. The said notice was also affixed at the last known address of the Noticee. However, the Noticee failed to appear before me on the said date.
Page 4 of 9 8. Before moving forward, it will be appropriate to refer to the relevant provisions of PFUTP Regulations which inter alia read as under:
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Source: SecMarx — sebi:EAD-2/AO/12/2012. 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.