sebi:EAD-2/AO/64/2012
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Facts / Headnote
Charges not established; matter disposed of
Provisions invoked
- s. 15
- s. 15H
Regulations
- Reg. 4
- Reg. 3
Parties
- M/s Vintel Securities Pvt. Ltd
Holding
The charges against the Noticee of violating Regulations 4(1) and 4(2)(a), (b) and (e) of the PFUTP Regulations by placing incremental trades to influence the price of TSWL scrip were not established, and the matter was disposed of without penalty.
Full text
Page 2 of 6 manipulation in the scrip. M/s Vintel Securities Pvt. Ltd (hereinafter referred to as the ‘Noticee’) dealing through Galaxy Broking Ltd influenced the price by placing incremental trades in the scrip of TSWL.
Page 3 of 6 as per Rule 4 (3) of the Adjudication Rules, an opportunity of personal hearing was granted to the Noticee on April 17, 2012 vide notice dated April 02, 2012. The Noticee sought an adjournment vide its letter dated April 16, 2012. Accordingly, another opportunity was granted on May 15, 2012. The Noticee again sought an adjournment which was granted on June 15, 2012. The Authorized Representative (AR) of the Noticee appeared on the said date before me and made oral and written submissions.
Page 4 of 6 (1) Without prejudice to the provisions of regulation 3, no person shall indulge in a fraudulent or an unfair trade practice in securities. (2) Dealing in securities shall be deemed to be a fraudulent or an unfair trade practice if it involves fraud and may include all or any of the following, namely :— (a) indulging in an act which creates false or misleading appearance of trading in the securities market; (b) dealing in a security not intended to effect transfer of beneficial ownership but intended to operate only as a device to inflate, depress or cause fluctuations in the price of such security for wrongful gain or avoidance of loss; (c) .......... (d) .......... (e) any act or omission amounting to manipulation of price of the security;
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Source: SecMarx — sebi:EAD-2/AO/64/2012. 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.