sebi:Order/BD/AB/2020-21/9858
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Facts / Headnote
Show Cause Notice disposed of without imposition of any penalty under Section 15HA of SEBI Act
Provisions invoked
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- M/s Rikhav Investments
Holding
The Adjudicating Officer held that violations of Regulations 3(a), (b), (c), (d), 4(1), 4(2)(a) and (g) of PFUTP Regulations, 2003 by the Noticee for 74 self-trades for 10,483 shares in BPML were not established. The Show Cause Notice was accordingly disposed of without imposition of any penalty under Section 15HA of the SEBI Act.
Full text
Page 2 of 7 appointed as the Adjudicating Officer in the matter after which the undersigned was appointed as the Adjudicating Officer in the matter on September 26, 2019.
Page 3 of 7 terms of trade count the trade count of the Noticee was not more than 0.08% on any day. d. The Noticee submitted that mere occurrence of self trades is not per-se manipulative or fraudulent. The insignificant volume of trading of the Noticee could not have impacted the price or the volume of the BPML scrip. e. The Notice relied on the judgments of the Hon’ble SAT in the matter of SPJ Stock Brokers Pvt. Ltd., Kapil Chaturabhij Bhuptni, BP Fintrade Pvt. Ltd. and Krupa Sanjay Soni in support of its submissions. The Noticee also cited SEBI AO orders in the matters of Ajay Desai and Indira Securities Pvt. Ltd., JMP Securities Pvt. Ltd. and various other orders in support of its submissions.
Page 4 of 7 PFUTP Regulations 3. Prohibition of certain dealings in securities No person shall directly or indirectly— (a) buy, sell or otherwise deal in securities in a fraudulent manner;
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Source: SecMarx — sebi:Order/BD/AB/2020-21/9858. 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.