sebi:Order/BD/NR/2020-21/7986
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Facts / Headnote
Violation established; penalty of Rs.5,00,000 imposed under Section 15HA of SEBI Act
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15J
- s. 28A
Regulations
- Reg. 3
- Reg. 4
- Reg. 4(1)
- Reg. 3(a)
Parties
- Dhiren Agarwal HUF
Holding
The Noticee violated Regulations 3(a),(b),(c),(d) and 4(1), 4(2)(a) and (e) of SEBI (PFUTP) Regulations, 2003 by manipulating price and creating misleading appearance of trading, and is liable to monetary penalty of Rs.5,00,000 under Section 15HA of the SEBI Act, 1992.
Full text
Adjudication Order in respect of Dhiren Agarwal HUF in the matter of Jolly Plastic Industries Ltd., Page 2 of 21 company's scrip code to demat mode. Further, it is observed from the Investigation Report (hereinafter referred to as “IR”) that the net profit of the Company for the year ending March 2012 and, March 2013 was zero and that of year ending March 2014 and March 2015 was ₹0.01 crore and ₹0.07 crore respectively.
Adjudication Order in respect of Dhiren Agarwal HUF in the matter of Jolly Plastic Industries Ltd., Page 3 of 21 Period Dates Opening Price (volume) on first day of the period(₹) Closing price (volume) on last day of the period (₹) Low price(volume) during the period (₹) High Price(volume) during the period (₹) Avg. no. of (shares) traded daily during the period Scrip suspended during pre-investigation period Patch-1 14/02/2012 – 18/12/2012 Price 10 90.8 10 (14/02/2012) 90.8 (18/12/2012) 341 Vol 100 100 100 (on 56 different trading days) 5100 (29/11/2012) Patch-2 19/12/2012 – 05/02/2013 Price 92.6 35.55 34.5 (05/02/2013) 92.6 (19/12/2012) 1,430 Vol 4,900 4,600 100 (on 14 different trading days) 13900 (09/01/2013) Patch-3 06/02/2013 – 23/09/2013 Price 34.55 305 34.55 (06/02/2013) 305 (23/09/2013) 14,977 Vol 500 3,000 100 (on 12 different trading days) 140100 (04/09/2013) Patch-4 16/12/2013 – 25/06/2014 Price 288 49.5 49.5 (25/06/2014) 301.8 (16/12/2013) 41,852 Vol 38,600 100 100 (on 39 different trading days) 459100 (25/03/2014) Patch-5 09/07/2014 – 27/11/2014 Price 51.95 122 49.65 (03/09/2014) 122 (27/11/2014) 17,750 Vol 10,600 42,200 100 (on 11 different trading days) 105500 (20/11/2014) No trading and subsequently scrip suspended on 07/01/2015
Adjudication Order in respect of Dhiren Agarwal HUF in the matter of Jolly Plastic Industries Ltd., Page 4 of 21 dated September 28, 2017, under Section 19 of the SEBI Act read with Section15-I of the SEBI Act 1992 and Rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter referred to as “SEBI Adjudication Rules”) to inquire and adjudge under Section 15 HA of the SEBI Act 1992, for the violations alleged to have been committed by the Noticee.
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Source: SecMarx — sebi:Order/BD/NR/2020-21/7986. 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.