sebi:Order/AS/AK/2022-23/22429-22433
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Facts / Headnote
Penalty imposed on all 5 Noticees for violating PFUTP Regulations
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 3
- Reg. 4(1)
- Reg. 4(a)
- Reg. 2
Parties
- Mr. Henal C Patel (Noticee 1)
- Mr. Keval Chandrakant Shah (Noticee 4)
- Mr. Nikunj C Patel (Noticee 6)
- Mr. Dhaval Chandrakant Shah (Noticee 7)
- Mr. Vishal Pravinbhai Soni (Noticee 8)
Holding
The Adjudicating Officer held that the 5 Noticees, as connected entities, manipulated the price of the scrip of Exdon Trading Company Limited and created a misleading appearance of trading in the scrip during Patch-I of the investigation period, in violation of regulations 3(a), (b), (c), (d), 4(1), 4(2)(a) and 4(2)(e) of the PFUTP Regulations, and imposed penalties of Rs. 10 lakh on Noticee 1 and Rs. 5 lakh each on Noticees 4, 6, 7 and 8 under section 15HA of the SEBI Act.
Full text
_______________________________________________________________________________ Adjudication Order in the matter of Exdon Trading Company Limited – 5 Entities
_______________________________________________________________________________ Adjudication Order in the matter of Exdon Trading Company Limited – 5 Entities
_______________________________________________________________________________ Adjudication Order in the matter of Exdon Trading Company Limited – 5 Entities
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Source: SecMarx — sebi:Order/AS/AK/2022-23/22429-22433. 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.