sebi:JJ/AK/AO-108/2014

SEBI · SEBI · 2014-07-22 · Jayanta Jash, Adjudicating Officer

This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.

Facts / Headnote

Noticee found liable for violations of section 12A(a), 12A(b), 12A(c) of SEBI Act and Regulations 3(a), 3(b), 3(c), 3(d), 4(1), 4(2)(a) and 4(2)(e) of PFUTP Regulations; penalty quantum to be determined under section 15J

Provisions invoked

• s. 15
• s. 12A
• s. 15H
• s. 15J

Regulations

• Reg. 4
• Reg. 3
• Reg. 4(a)
• Reg. 2
• Reg. 3(a)

Parties

• M/s Master Finlease Limited

Holding

The Noticee, M/s Master Finlease Limited, was held to have violated section 12A(a), 12A(b), 12A(c) of the SEBI Act and Regulations 3(a), 3(b), 3(c), 3(d), 4(1), 4(2)(a) and 4(2)(e) of the PFUTP Regulations by engaging in synchronized trades, circular trades and aiding and abetting price manipulation in the scrip of Gangotri Textiles Limited.

Full text

Adjudication Order in respect of M/s Master Finlease Limited in the matter of M/s Gangotri Textiles Limited Page 2 of 30 July 22, 2014 was ` 52.25 (intra day high on February 6, 2006) and lowest price during this period was ` 40.55 (intra day low on March 28, 2006). The average daily traded quantity during this period was for 77,036 shares.

Adjudication Order in respect of M/s Master Finlease Limited in the matter of M/s Gangotri Textiles Limited Page 3 of 30 July 22, 2014 during this period was `24 (intra day low on December 13, 2006) in both NSE and BSE. The average daily traded quantity during this period was for 34,080 / 43,717 (NSE/BSE) shares.

Adjudication Order in respect of M/s Master Finlease Limited in the matter of M/s Gangotri Textiles Limited Page 4 of 30 July 22, 2014 2003 (hereinafter referred to as “PFUTP Regulations”) and therefore, liable for monetary penalty under section 15HA of SEBI Act.

Source: SecMarx — sebi:JJ/AK/AO-108/2014. 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.