sebi:EAD-2/AO/59-60/2012
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Facts / Headnote
Penalty imposed on both Noticees for fraudulent and unfair trade practices
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 3
Parties
- Smt. Krupa Sanjay Soni
- Shri Sanjay Soni
Holding
The Noticees were held to have violated Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) & (g) of the PFUTP Regulations by indulging in synchronized trades, self trades and intra-group trades in the scrip of SGTL, and a penalty of Rs. 30,00,000/- each was imposed on Smt. Krupa Sanjay Soni and Shri Sanjay Soni under Section 15HA of the SEBI Act.
Full text
Page 2 of 18 approximately 31.77% in 163 trading days. A group of entities namely Smt. Krupa Sanjay Soni (Noticee at S.No. 1), Shri Sanjay Soni (Noticee at S. No.2), J M Soni Consultancy, Shri Paresh Chauhan, Shri Krunal Rana, Shri Dharmendra Soni, Shri Dilipkumar Soni, Shri Jayeshkumar Soni, Shri Janakray Soni, Shri Dharmesh Soni, Shri Bhargav Patel, Shri Bhargav Vyas, Shri Kalpesh Chauhan, Shri Ashlesh Shah and Shri Dhiren Kumar Agarwal (herein after collectively referred to as ‘Krupa Soni Group’) related / associated/ connected with each other one way or the other had the highest concentration of trading in the scrip of SGTL. The Noticees along with the other entities of Krupa Soni Group had dealt in the scrip of SGTL in a fraudulent and manipulative manner during the period under investigation that created false and misleading appearance of trading, artificial volume and price manipulation in the scrip.
Page 3 of 18 PFUTP Regulations by the Noticees. SEBI vide Order dated May 22, 2012 appointed the undersigned as the AO. Notice, Reply & Personal Hearing
Page 4 of 18 “…The appellants did not file any reply to the second show-cause notice. This being so, it has to be presumed that the charges alleged against them in the show-cause notice were admitted by them”. However, in order to pass a speaking order, the undersigned is going to analyse the evidence and allegations made against the Noticees.
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Source: SecMarx — sebi:EAD-2/AO/59-60/2012. 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.