sebi:ERO/SLPL/AO/DRK/MD/EAD-3/04/2009
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Facts / Headnote
Penalty imposed on the noticee for fraudulent and unfair trade practices
Provisions invoked
- s. 15A
- s. 15
- s. 15H
- s. 11C
- s. 11C(3)
Regulations
- Reg. 4
- Reg. 4(2)
Parties
- Success Vyapar Private Limited
Holding
Success Vyapar Private Limited was found to have violated Regulation 4(2)(a) and 4(2)(e) of the PFUTP Regulations by engaging in manipulative, fraudulent and unfair trade practices in the scrip of SLPL, and a penalty of Rs. 40,00,000 was imposed under Section 15HA of the SEBI Act.
Full text
Page 2 of 12 2 SEBI Act, read with Rule 3 of Securities and Exchange Board of India (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Rules’) to inquire into and adjudge under Section 15HA of the SEBI Act, the violations of Regulation 4(2) (a) and 4(2) (e) of PFUTP Regulations. SHOW CAUSE NOTICE, HEARING AND REPLY
Page 3 of 12 3 (a) indulging in an act which creates false or misleading appearance of trading in the securities market; (e) any act or omission amounting to manipulation of the price of a security;
Page 4 of 12 4 furnish such information or to produce such records as may be required by the Investigating Authority. Further, Section 11C (5) empowers the Investigating Authority to examine such persons.
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Source: SecMarx — sebi:ERO/SLPL/AO/DRK/MD/EAD-3/04/2009. 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.