sebi:EAD-2/AO/125/2013
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Facts / Headnote
Noticee held liable for violations of PFUTP Regulations and Brokers Regulations; total monetary penalty of Rs. 1,50,000 imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 7
- Reg. 3
- Reg. 4
Parties
- Triveni Management Consultancy Services Ltd.
Holding
The Noticee aided/abetted its clients Bharat Jain, Suresh Hanswal and Meena Rajawat in executing synchronized/structured/circular trades creating artificial volumes and influencing price, thereby violating Regulations 4(1), 4(2)(a), (b), (e) & (n) of PFUTP Regulations and Code of Conduct A(1)-(5) read with Regulation 7 of Brokers Regulations, and is liable for monetary penalty under Sections 15HA and 15HB of the SEBI Act.
Full text
Page 2 of 11 2. During the period for which the scrips were investigated, there was huge change in price of the scrip. The volume of trade and the change in price of each of the aforesaid companies on BSE are mentioned below.
Page 3 of 11 related/connected/linked to each other and they together form a group (hereinafter collectively referred to as “Mehta Group”).
Page 4 of 11 aforesaid provisions of the PFUTP Regulations and Broker Regulations, alleged to have been committed by the Noticee. Consequent upon transfer of Shri Satya Ranjan Prasad the undersigned has been appointed as the Adjudicating Officer vide order dated May 22, 2012. Show Cause Notice, Reply and Personal Hearing
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Source: SecMarx — sebi:EAD-2/AO/125/2013. 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.