sebi:IVD-ID6/KSERA-HP/AO/DRK/ASG/EAD3-258/24-2011
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Facts / Headnote
Penalty imposed on the noticee for violating PFUTP Regulations
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 4(1)
Parties
- Haresh Ponsak
Holding
The noticee, Haresh Ponsak, was found to have violated Regulations 4(1) and 4(2)(a), (b), (e) and (g) of the PFUTP Regulations by engaging in circular and synchronized trades in the scrip of KSERA, and a penalty of Rs. 4,50,000 was imposed under Section 15HA of the SEBI Act.
Full text
Page 2 of 12 referred to as ‘IR’) observed that during the Investigation Period the price of the scrip opened at ` 74.35 on May 2, 2005 reached a high of ` 97.50 on May 24, 2005 and closed at ` 89.25 on July 1, 2005.
Page 3 of 12 referred to as the ‘PFUTP Regulations’) alleged to have been committed by the noticee. SHOW CAUSE NOTICE, HEARING AND REPLY
Page 4 of 12 2010 informing that SCN was issued against the noticee in the matter of KSERA and the same is made available on the SEBI Website i.e. www.sebi.gov.in under the heading “Unserved Summons / Notices” and noticee can also collect a copy of the SCN from the office of the Adjudicating officer. The noticee did not collect a copy of the SCN. Further, to confirm the noticee’s available address, a request was made to the National Securities Depository Ltd. vide e-mail dated July 30, 2010 to provide the address of the noticee. Based on the data provided by National Securities Depository Ltd. vide its letter dated August 04, 2010 it appears that there is no corresponding entry in the data provided.
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Source: SecMarx — sebi:IVD-ID6/KSERA-HP/AO/DRK/ASG/EAD3-258/24-2011. 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.