sebi:EAD-7/BJD/NJMR/99-105/2018-19
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. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 4
- Reg. 3(a)
Parties
- Bhavesh Prakash Pabari
- Hemant Madhusudan Sheth
- Prem Mohanlal Parikh
- Kishorbhai Balubhai Chauhan
- Bharat Shantilal Thakkar
- Ankit Rajendra Sanchaniya
- Mala Hemant Sheth
Holding
The Noticees (Pabari Group entities) were alleged to have indulged in synchronised trades, reversal trades and self-trades in the scrip of Linkhouse Industries Ltd. with manipulative intent to create artificial volume and false appearance of trading, in violation of Regulations 3(a), 3(b), 3(c), 3(d), 4(1), 4(2)(a), 4(2)(b) and 4(2)(g) of the SEBI (PFUTP) Regulations, 2003.
Full text
Adjudication Order in the matter of Linkhouse Industries Ltd., Page 2 of 42 of SEBI Act and SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 by certain connected entities.
Adjudication Order in the matter of Linkhouse Industries Ltd., Page 3 of 42 b. Based on the price movement, the investigation period was split into three patches. During the Patch I, BSE Sensex opened at 4833.84 and closed at 7944.1 registering a rise by 3110.26 points. During the same period, price of the scrip in BSE moved from ` 4.1 to `149, a rise by ` 144.9(3534.15%).
Adjudication Order in the matter of Linkhouse Industries Ltd., Page 4 of 42 5. There are 42 entities identified as Pabari Group (connected entities) on the basis on MCA filing, banking transactions, KYC and off-market transactions. Details and basis of connection among Pabari Group entities are furnished hereunder. Sl. No. PAN Entity Name Basis of Connection 1 AKGPP8679N Bhavesh Prakash Pabari
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Source: SecMarx — sebi:EAD-7/BJD/NJMR/99-105/2018-19. 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.