sebi:EAD-2/AO/170/2013
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Facts / Headnote
Penalty imposed on the Noticee for violations of PFUTP Regulations and SEBI Act
Provisions invoked
- s. 15A
- s. 15
- s. 12A
- s. 12
- s. 15H
- s. 15J
- s. 11C
Regulations
- Reg. 3
- Reg. 4(1)
- Reg. 3(a)
Parties
- Ms Hemlata Ramesh Hankare
Holding
The Noticee was found to have violated Regulations 3(a)-(d) and 4(1), 4(2)(a), (b), (e), (g) of the PFUTP Regulations read with Section 12A(a), (b), (c) of the SEBI Act by engaging in synchronized/structured/circular trading with the Mehta Group, and violated Section 11C(5) of the SEBI Act for failing to appear before the Investigating Authority. A total penalty of Rs. 11,00,000 was imposed (Rs. 10,00,000 under Section 15HA and Rs. 1,00,000 under Section 15HB).
Full text
Page 2 of 23 Lotus Eye care Hospitals Ltd. (Lotus), (xi) MVL Limited (MVL) and (xii) Anil Products Ltd. (Anil) on the Bombay Stock Exchange Ltd. (BSE) during the period from March 1, 2009 to December 15, 2009.
Page 3 of 23 aforesaid companies on behalf of themselves and/or used trading accounts of other related/linked persons to trade in the aforesaid scrips in synchronized, circular, reversal and fictitious manner in order to manipulate the price and volume of the aforesaid scrips.
Page 4 of 23 Appointment of Adjudicating Officer 6. SEBI vide order dated July 29, 2011 appointed Shri Satya Ranjan Prasad as the Adjudicating Officer under section 15 I of the SEBI Act read with rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as “Rules”) to inquire into and adjudge under section 15 A(a) and 15HA of the SEBI Act, the violation of the aforesaid provisions of the SEBI Act and PFUTP Regulations, alleged to have been violated 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,
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Source: SecMarx — sebi:EAD-2/AO/170/2013. 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.