sebi:EAD-7/BD/NR/2019-20/7407-7417
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Provisions invoked
- s. 15
- s. 19
- s. 12
- s. 15H
- s. 15J
- s. 28A
Regulations
- Reg. 3
- Reg. 4
- Reg. 4(1)
- Reg. 3(a)
Parties
- Noticee 1 (Deepa Saurabh Shah)
- Noticee 2
- Noticee 3
- Noticee 4
- Noticee 5
- Noticee 6
- Noticee 7 (Badri Prasad & Sons)
- Noticee 8
- Noticee 9
- Noticee 11
Holding
The order finds that the Noticees indulged in abnormal, deceptive, misleading, artificial and manipulative trades in the scrip of Unisys Software and Holding Industries Ltd., including self-trades and repeated buy/sell orders at prices away from LTP, amounting to manipulation and unfair trade practices in contravention of the SEBI Act and PFUTP Regulations, 2003. The order proceeds to consider whether monetary penalty under Section 15HA of the SEBI Act is attracted.
Full text
Adjudication Order in the matter of Unisys Software and Holding Industries Ltd. Page 2 of 39 Industries Ltd., (hereinafter referred to as “Unisys” / “Company”) inter-alia to ascertain any possible violation of the provisions of SEBI Act, 1992 and SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market)) Regulations, 2003 by certain connected entities during the period January 19, 2010 to November 14, 2014 (hereinafter referred to as “Investigation Period” / “IP”).
Adjudication Order in the matter of Unisys Software and Holding Industries Ltd. Page 3 of 39 Patch-2 (Price Fall): 02/05/2011 to 19/10/2011 Patch-3 (Price Rise): 20/10/2011 to 22/03/2012 Patch-4 (Price Fall): 23/03/2012 to 28/08/2012 Patch-5 (Price Rise): 29/08/2012 to 12/11/2012 Patch-6 (Price Fall): 13/11/2012 to 22/07/2013 Patch-7 (Price Rise): 13/11/2012 to 22/07/2013 Patch-8 (Price Fall): 03/09/2013 to 13/11/2014
Adjudication Order in the matter of Unisys Software and Holding Industries Ltd. Page 4 of 39 6. Last traded price (LTP) analysis was carried out for the entire investigation period. The detail of trades by connected entities and their trades that resulted into LTP influence during the investigation period are tabulated below:
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Source: SecMarx — sebi:EAD-7/BD/NR/2019-20/7407-7417. 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.