sebi:ORDER/VV/HS/2019-20/6588-6603

SEBI · SEBI · 2018-08-20 · Vijayant Kumar Verma, Adjudicating Officer

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Facts / Headnote

Noticees found to have violated the PFUTP Regulations; penalty to be adjudged taking into account role played, repetitive trades and principle of proportionality

Provisions invoked

• s. 15
• s. 19
• s. 15H
• s. 15J
• s. 12A
• s. 15F
• s. 28A

Regulations

• Reg. 4
• Reg. 2(c)
• Reg. 3
• Reg. 4(a)
• Reg. 200
• Reg. 3(a)

Holding

The Adjudicating Officer held that Noticees No. 1 to 9 violated Regulation 3(a),(b),(c),(d), 4(1), 4(2)(a) and 4(2)(e) of the PFUTP Regulations, and Noticees No. 9 to 16 violated Regulation 3(a),(b),(c),(d), 4(1) and 4(2)(e) of the PFUTP Regulations, in connection with price manipulation in the scrip of Dwitiya Trading Limited.

Full text

Adjudication Order in the matter of M/s. Dwitiya Trading Limited. Page 2 of 60 BACKGROUND 1. The Securities and Exchange Board of India (hereinafter referred to as “SEBI”) had conducted the Investigation during the period from August 25, 2014 to August 26, 2015 (hereinafter referred to as “Investigation Period”) in the scrip of M/s. Dwitiya Trading Limited (hereinafter referred to as “DTL or Company”) in respect of suspected price manipulation and trading activities of certain suspected entities. During the relevant time the shares of DTL was listed on BSE Limited (hereinafter referred to as “BSE”).

Adjudication Order in the matter of M/s. Dwitiya Trading Limited. Page 3 of 60 terms of Rule 5 of the Adjudication Rules and in terms of Section 15HA of the SEBI Act. Subsequently, in the matter the undersigned has been appointed as AO by SEBI, on August 13, 2019, in the place of Shri Sahil Malik to inquire into and adjudge, the violation of the PFUTP Regulations alleged to have been committed by the Noticees.

Adjudication Order in the matter of M/s. Dwitiya Trading Limited. Page 4 of 60 Noticee No. 11 Through Speed Post Acknowledgement. Noticee No. 12 Through Speed Post Acknowledgement. Noticee No. 13 Through Speed Post Acknowledgement. Noticee No. 14 Through Speed Post Acknowledgement. Noticee No. 15 Through Speed Post Acknowledgement. Noticee No. 16 Through Speed Post Acknowledgement.

Source: SecMarx — sebi:ORDER/VV/HS/2019-20/6588-6603. 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.