sebi:Order/BD/AA/2020-21/9582-9585
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Facts / Headnote
Noticees held to have violated PFUTP Regulations, 2003 and monetary penalty imposed under Section 15HA of SEBI Act
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 4
- Reg. 3
- Reg. 2(1)(c)
- Reg. 4(1)
- Reg. 4(a)
- Reg. 3(a)
- Reg. 4(2)(a)
- Reg. 4(2)(g)
Parties
- Savitri Devi Agarwal
- B M Agarwal
- Deepak Gupta
- Mukat Behari
Holding
The Noticees created artificial volume in FIRL by off-market receipt from Natraj Capital & Credit Pvt Ltd followed by on-market sale to its connected entities, violating Regulations 3(a)-(d), 4(1), 4(2)(a) and (g); Savitri Devi Agarwal additionally manipulated price through New High Price contribution violating Regulation 4(2)(e), and penalty under Section 15HA was imposed.
Full text
Page 2 of 35 2. Pursuant to investigation, it was observed by SEBI that a group of entities viz. Savitri Devi Agarwal, B M Agarwal, Mukat Behari and Deepak Gupta along with other connected entities created artificial volume in the scrip of FIRL by repeatedly transacting in off market and on market. In view of the same, it was observed that the said entities had violated the provisions of regulations 3(a), (b), (c), (d), 4(1), 4(2)(a) and (g) of PFUTP Regulations, 2003. It was also observed that Savitri Devi Agarwal manipulated the scrip price by New High Price (NHP) contribution. In view of the same, it was observed that Savitri Devi Agarwal had violated the provisions of regulations 3 (a), (b), (c), (d), 4 (1), 4 (2) (a) & (e) of PFUTP Regulations, 2003.
Page 3 of 35 adjudge the alleged violations committed by the Noticees under Section 15HA of SEBI Act. SHOW CAUSE NOTICE, REPLY AND HEARING
Page 4 of 35 Focus Industrial Resources Ltd. I am not involved in insider trading and fraudulent transactions. 7. B M Agarwal, vide letter dated December 20, 2018, inter alia made the following
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Source: SecMarx — sebi:Order/BD/AA/2020-21/9582-9585. 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.