sebi:ORDER/GG/BS/2022-23/16917-16921
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Provisions invoked
- s. 15
- s. 12A
- s. 15H
- s. 15J
- s. 28A
Regulations
- Reg. 4
- Reg. 3
- Reg. 3(a)
Parties
- Malay Bhow (Noticee No. 1)
- Taresh Gorasia (Noticee No. 2)
- Himanshu Tiwari (Noticee No. 3)
- Paresh Lavjibhai Mehta (Noticee No. 4)
- Kavitaben Pareshbhai Mehta (Noticee No. 5)
Holding
The Adjudicating Officer found that Noticee No. 3 (Himanshu Tiwari) masked himself as 'Subodh' to circulate misleading bulk SMSes recommending purchase of deep out-of-the-money put options in South Indian Bank Ltd., and that Het Enterprise's trades were fraudulent, executed with knowledge of and to capitalize on the bulk SMS.
Full text
______________________________________________________________________ Adjudication Order in the matter of South Indian Bank Limited Page 2 of 41
______________________________________________________________________ Adjudication Order in the matter of South Indian Bank Limited Page 3 of 41
______________________________________________________________________ Adjudication Order in the matter of South Indian Bank Limited Page 4 of 41
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Source: SecMarx — sebi:ORDER/GG/BS/2022-23/16917-16921. 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.