sebi:EAD-5/BS/AO/07/2018-19
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Facts / Headnote
Penalty imposed on Noticee for fraudulent and unfair trade practices
Provisions invoked
- s. 15
- s. 12A
- s. 15H
- s. 15J
- s. 15F
Regulations
- Reg. 4
- Reg. 3
- Reg. 200
Parties
- M/s JM Infocom and Property Investment Private Limited
Holding
The Noticee, M/s JM Infocom and Property Investment Private Limited, violated Regulations 3(a) to (d) and 4(1), 4(2)(a) and (g) of the SEBI PFUTP Regulations, 2003 read with Section 12A(a), (b), (c) of the SEBI Act, 1992, by purchasing 5,235 shares of HIL in connivance with other connected entities to create artificial volume in the scrip. A penalty of Rs.1,00,000/- was imposed under Section 15HA of the SEBI Act, 1992.
Full text
Page 2 of 14 period of relisting and providing a platform for promoters and major shareholders to sell their shares in the market.
Page 3 of 14 and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as the ‘Adjudication Rules’) read with Section 15-I of SEBI Act, 1992, to show cause as to why an inquiry should not be initiated and penalty should not be imposed under Section 15HA of SEBI Act,1992, for the alleged contraventions.
Page 4 of 14 I am inclined to proceed with the matter on the basis of the material available on record. ISSUES FOR CONSIDERATION & FINDINGS
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Source: SecMarx — sebi:EAD-5/BS/AO/07/2018-19. 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.