sebi:ORDER/VV/NK/2021-22/14836-14884
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Adjudication proceedings against 49 entities for alleged violation of Section 12A(a),(b),(c) of SEBI Act read with Regulations 3(a),(b),(c),(d) and 4(1), 4(2)(a) and (g) of PFUTP Regulations, 2003; penalties imposed under Section 15HA of SEBI Act
Provisions invoked
- s. 15
- s. 19
- s. 12A
- s. 12
- s. 15H
- s. 15J
- s. 15F
- s. 28A
- s. 1i
Regulations
- Reg. 3
- Reg. 4
- Reg. 4(1)
- Reg. 200
- Reg. 2
- Reg. 3(a)
- Reg. 13(4)
- Reg. 3(c)
- Reg. 3(b)
- Reg. 4(2)(a)
- Reg. 4(2)(g)
- Reg. 3(d)
Holding
The Noticees were held liable for indulging in circular trades, synchronized trades, and trading amongst connected entities in the scrip of Sterling International Enterprises Limited (SIEL), creating a misleading appearance of trading and artificial volume, in violation of Section 12A(a),(b),(c) of the SEBI Act read with Regulations 3 and 4 of the PFUTP Regulations, 2003. Penalties were imposed under Section 15HA of the SEBI Act on the 49 Noticees.
Full text
Adjudication Order with respect to 49 entities in the matter of Sterling International Enterprises Limited. P a g e 2 | 115
Adjudication Order with respect to 49 entities in the matter of Sterling International Enterprises Limited. P a g e 3 | 115
Adjudication Order with respect to 49 entities in the matter of Sterling International Enterprises Limited. P a g e 4 | 115
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:ORDER/VV/NK/2021-22/14836-14884. 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.