sebi:Order/AA/MG/2020-21/7512
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty imposed on the Noticee for violation of PFUTP Regulations
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 Amar Premchand Walmiki
Holding
The Noticee, Shri Amar Premchand Walmiki, was found to have violated Regulations 3(a), (b), (c), (d) and 4(1), 4(2)(a), (b), (g) of the PFUTP Regulations by indulging in manipulative trades and creating artificial volume in the scrip of Gemstone Investments Limited, and a penalty of Rs. 1,00,000/- was imposed under Section 15HA of the SEBI Act. The allegation under Regulation 4(2)(e) (price manipulation) was not established.
Full text
________________________________________________________________________ In the matter of Gemstone Investments Limited Page 2 of 18
________________________________________________________________________ In the matter of Gemstone Investments Limited Page 3 of 18
________________________________________________________________________ In the matter of Gemstone Investments Limited Page 4 of 18
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Source: SecMarx — sebi:Order/AA/MG/2020-21/7512. 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.