sebi:Order/AA/MG/2019-20/6223
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Facts / Headnote
Penalty of Rs. 1,00,000 imposed under Section 15HA of SEBI Act for violation of PFUTP Regulations; charge under Regulation 4(2)(e) held not established
Provisions invoked
- s. 15
- s. 11B
- s. 11
- s. 15H
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 3
- Reg. 4(1)
- Reg. 3(a)
- Reg. 4(2)(e)
Parties
- Shri Kaushik Rajnikant Mehta
Holding
The Noticee, as part of the Pabari-Parikh Group, violated Regulations 3(a), (b), (c), (d) and 4(1), 4(2)(a), (b) and (g) of the PFUTP Regulations by trading within the group and creating artificial volume in the scrip of Spectacle, and is liable to a penalty of Rs. 1,00,000 under Section 15HA of the SEBI Act; the allegation under Regulation 4(2)(e) for price manipulation does not stand established.
Full text
________________________________________________________________________ In the matter of Spectacle Industries Limited Page 2 of 17 (now known as Spectacle Ventures Limited)
________________________________________________________________________ In the matter of Spectacle Industries Limited Page 3 of 17 (now known as Spectacle Ventures Limited)
________________________________________________________________________ In the matter of Spectacle Industries Limited Page 4 of 17 (now known as Spectacle Ventures Limited)
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Source: SecMarx — sebi:Order/AA/MG/2019-20/6223. 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.