sebi:EAD-5/BS/AO/103/2017-18
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Facts / Headnote
Allegations not established; adjudication proceedings disposed of without penalty
Provisions invoked
- s. 15
- s. 15H
- s. 15I
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- Shri Bharat Gupta
Holding
The allegations that Shri Bharat Gupta violated Regulations 3(a) to (d), 4(1), 4(2)(a) and (g) of the PFUTP Regulations by executing self-trades were not established, and the adjudication proceedings initiated vide SCN dated August 30, 2016 were disposed of without penalty.
Full text
Adjudication Order in the matter of IFL Promoters Ltd. Page 2 of 7 2. Investigation examined the role of Noticee with respect to synchronized trades, circular trades, reversal trades, self-trades, new low/ high price analysis, last traded price analysis and first trade analysis carried out by them during the investigation period. The investigation brought out self-trades executed by the Noticee during the investigation period.
Adjudication Order in the matter of IFL Promoters Ltd. Page 3 of 7 CONSIDERATION OF ISSUES AND FINDINGS 8. I have carefully examined written submissions of the Noticee and the documents available on record. The issues that arise for consideration in the present case are : a. Whether Noticee has violated Regulations 3(a) to (d), 4(1), 4(2)(a) and (g) of PFUTP Regulations? b. Does the violation, if established, attract monetary penalty under Section 15HA of SEBI Act, 1992?
Adjudication Order in the matter of IFL Promoters Ltd. Page 4 of 7 any dealing in or issue of securities which are listed or proposed to be listed on a recognized stock exchange in contravention of the provisions of the Act or the rules and the regulations made thereunder.
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Source: SecMarx — sebi:EAD-5/BS/AO/103/2017-18. 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.