sebi:EAD-7/BJD/NJMR/2018-19/2422-2425
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Facts / Headnote
Violation established; monetary penalty imposed under Section 15HB
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15I
- s. 15J
Regulations
- Reg. 9
- Reg. 201
- Reg. 9(1)
Parties
- Mukeshsingh M Jagarval
- Sweta Virendra Shah
- Mittali Mukeshbhai Christachary
- Snehlata Rajendraprasad Tiwari
Holding
The Noticees, as designated employees of Kushal Tradelink Ltd., violated Regulation 9(1) read with Schedule B of the SEBI (PIT) Regulations, 2015 by executing contra trades within six months and, for Noticees 1 and 2, by trading during trading window closure, and are liable to monetary penalty under Section 15HB of the SEBI Act.
Full text
Adjudication Order in the matter of Kushal Tradelink Ltd., Page 2 of 17 Rajendraprasad Tiwari (Noticee 4) entered into opposite transactions (contra trade) i.e., sell or buy shares of KTL during the six months period following the prior transaction. It was also observed that the Noticee 1 and 2 had traded in the scrip of KTL during the period when the trading window remained closed. Therefore, it is alleged that the Noticees by executing contra trades within six months of their prior transactions and the Noticee 1 and 2 by trading during the period when trading window remain closed had violated the provisions of Code of Conduct as prescribed under Regulation 9 (1) read with Schedule B of the SEBI (PIT) Regulations.
Adjudication Order in the matter of Kushal Tradelink Ltd., Page 3 of 17 14, 2019. I note that the Noticee 3 submitted her reply vide email dated February 12, 2019. The Noticee 3 and 1 vide email dated February 12, 2019 and February 15, 2019 submitted their respective replies to the charges alleged in the SCN.
Adjudication Order in the matter of Kushal Tradelink Ltd., Page 4 of 17 employees and insiders pursuant to Regulation 9 (1) of the SEBI (Prohibition of Insider Trading) 2015.
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Source: SecMarx — sebi:EAD-7/BJD/NJMR/2018-19/2422-2425. 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.