sebi:Order/GR/HK/2023-24/28520-28521
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Facts / Headnote
Violations established; monetary penalty imposed under Section 15HA of SEBI Act, 1992
Provisions invoked
- s. 15
- s. 12A
- s. 11
- s. 15H
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 3
- Reg. 4(1)
- Reg. 200
- Reg. 3(a)
Parties
- Shri Bhargav Panchal
- Smt Hina Bhargav Panchal
Holding
The Adjudicating Officer held that Mr. Bhargav Panchal and Ms. Hina Panchal violated Section 12A(a), (b), (c) of the SEBI Act read with Regulations 3(a), (b), (c), (d) and 4(1) of the PFUTP Regulations by acting in concert with the Panchal Group to corner shares meant for Retail Individual Investors in IPOs during 2003-2005, and imposed penalty of Rs. 25,00,000 on Bhargav Panchal and Rs. 20,00,000 on Hina Panchal under Section 15HA.
Full text
__________________________________________________________________________________ Adjudication Order against Mr. Bhargav Panchal and Ms. Hina Panchal in the matter of irregularities committed in the IPO of several companies. Page 2 of 21
__________________________________________________________________________________ Adjudication Order against Mr. Bhargav Panchal and Ms. Hina Panchal in the matter of irregularities committed in the IPO of several companies. Page 3 of 21
__________________________________________________________________________________ Adjudication Order against Mr. Bhargav Panchal and Ms. Hina Panchal in the matter of irregularities committed in the IPO of several companies. Page 4 of 21
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Source: SecMarx — sebi:Order/GR/HK/2023-24/28520-28521. 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.