sebi:ERO/AICL/AO/DRK/MD/EAD-3/15/2009
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Facts / Headnote
Penalty imposed on the noticee for manipulative, fraudulent and unfair trade practices and for non-cooperation with investigation
Provisions invoked
- s. 15A
- s. 15
- s. 15H
- s. 15J
- s. 11C
- s. 11C(3)
Regulations
- Reg. 7
- Reg. 6
- Reg. 4(2)
- Reg. 8
- Reg. 8(1)
- Reg. 8(b)
Parties
- Anushree Tradelink Private Limited
Holding
The noticee Anushree Tradelink Private Limited was held liable for violating Regulation 4(2)(a), 4(2)(e) and 8(1)(b) of the PFUTP Regulations, and a total penalty of Rs. 90,00,000 was imposed comprising Rs. 30,00,000 for non-compliance with investigation summons and Rs. 60,00,000 for manipulative, fraudulent and unfair trade practices.
Full text
Page 2 of 13 for the last three years and there are no major corporate events in the said period. In such insignificant financial performance of the company, the share price of the company moving from Rs.95 to 298.50 is not justified by the fundamentals of the company. There was price rise to the extent of 214% in less than five months period.
Page 3 of 13 as a typographical error as there is no Regulation 8(b) of PFUTP Regulations. The IR at page no. 28 also clearly mentions the violation of Regulation 8(1) (b) by the noticee instead of 8(b).
Page 4 of 13 Duty to co-operate, etc. 8. (1) It shall be the duty of every person in respect of whom an investigation has been ordered under regulation 7—
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Source: SecMarx — sebi:ERO/AICL/AO/DRK/MD/EAD-3/15/2009. 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.