sebi:EAD-7/BJD/NJMR/2018-19/2289-2295
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Facts / Headnote
Noticees 6 and 7 held liable for violating PFUTP Regulations and penalty imposed under Section 15HA; SCN against Noticees 1 to 5 disposed of without monetary penalty
Provisions invoked
- s. 11
- s. 15
- s. 19
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 4
- Reg. 3(a)
Parties
- Confidence Finance and Trading Ltd. (Noticee 1)
- Directors of CFTL (Noticees 2 to 5)
- Ghanshyam Kamlesh Kachhawa (Noticee 6)
- Daulat Laxmilal Chandraliya (Noticee 7)
Holding
Noticees 6 and 7 violated Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) & (e) of the SEBI (PFUTP) Regulations, 2003 by acting in concert to manipulate the price of the CFTL scrip, and are liable for monetary penalty under Section 15HA of the SEBI Act. The SCN against Noticees 1 to 5 (the Company and its Directors) was disposed of without imposition of any monetary penalty as their involvement in the manipulative scheme was not established.
Full text
____________________________________________________________________________________ Adjudication Order in the matter of Confidence Finance and Trading Ltd., Page 2 of 24
____________________________________________________________________________________ Adjudication Order in the matter of Confidence Finance and Trading Ltd., Page 3 of 24
____________________________________________________________________________________ Adjudication Order in the matter of Confidence Finance and Trading Ltd., Page 4 of 24
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Source: SecMarx — sebi:EAD-7/BJD/NJMR/2018-19/2289-2295. 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.