sebi:IVD-ID5/UTI/AO/DRK-AKS/EAD-3/354/20-13
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Facts / Headnote
Adjudication proceedings disposed of; allegations not established
Provisions invoked
- s. 15H
- s. 15I
Regulations
- Reg. 3
Parties
- Shri Ashishkumar V Patel
Holding
The allegation that Shri Ashishkumar V Patel violated Regulations 3(a), (b), (c), (d), 4(1), 4(2)(a), (b), (e) and (g) of the PFUTP Regulations in respect of his trading in UTI SUNDER ETF is not established, and the adjudication proceedings are disposed of.
Full text
Page 2 of 5 APPOINTMENT OF ADJUDICATING OFFICER 2. I was appointed as the Adjudicating Officer under Section 15I of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as ‘SEBI Act’) to inquire into and adjudge under Section 15HA of the SEBI Act the alleged violations of Regulations 3 (a), (b), (c), (d), 4 (1), 4 (2) (a), (b), (e) and (g) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 (hereinafter referred to as ‘PFUTP Regulations’) alleged to have been committed by Shri Ashishkumar V Patel (hereinafter referred to as ‘noticee’) with respect to his dealings / trading in UTI SUNDER ETF and the same was communicated vide communiqué dated 25.04.2012.
Page 3 of 5 UTI SUNDER ETF and also gave a false and misleading appearance of trading in the UTI SUNDER ETF.. 5. Noticee vide his letter dated 18.09.2012 submitted a reply as follows:
Page 4 of 5 involved in artificially inflating the price of the UTI SUNDER ETF and also gave a false and misleading appearance of trading in the ETF.
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Source: SecMarx — sebi:IVD-ID5/UTI/AO/DRK-AKS/EAD-3/354/20-13. 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.