sebi:Order/GR/KG/2021-22/11971
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Facts / Headnote
Violations established; aggregate penalty of Rs. 6,00,000 imposed
Provisions invoked
- s. 15A
- s. 15
- s. 370
- s. 15H
- s. 15I
- s. 15J
Regulations
- Reg. 7
- Reg. 3
- Reg. 4
- Reg. 13
- Reg. 11
- Reg. 4(a)
- Reg. 13(3)
- Reg. 15A(b)
- Reg. 2(1)(e)(2)
- Reg. 2(i)(e)
Parties
- Amluckie Investment Company Limited
Holding
The Adjudicating Officer held that Amluckie Investment Company Limited violated Regulation 4(a), (b), (c) and (d) of the PFUTP Regulations, 1995 read with Regulation 13 of the PFUTP Regulations, 2003, Regulation 7(1A) of the SAST Regulations, 1997 and Regulation 13(3) of the PIT Regulations, 1992, and imposed an aggregate penalty of Rs. 6,00,000 under Sections 15HA and 15A(b) of the SEBI Act, 1992.
Full text
Adjudication Order in the matter of Silicon Valley Infotech Limited Page 2 of 28 Regulations”) and the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992 (“PIT Regulations”). The period of investigation in the matter was from November 1, 2002 to April 23, 2003 (“Investigation period”). It was prima facie observed during the investigation that Amluckie Investment Company Ltd (“Noticee”) who was a Promoter Related Entity of SVIL along with other Promoter Related Entities (herein after referred to as 'PRE') had colluded with the stock-broker Bubna Stock Broking Services Pvt. Ltd. (hereinafter referred to as 'Bubna') and the purchasers Rocky Marketing Pvt. Ltd (“Rocky”) and Prince Securities (“Prince”) in order to create artificial volumes and manipulate the price of the scrip SVIL in the Calcutta Stock Exchange.
Adjudication Order in the matter of Silicon Valley Infotech Limited Page 3 of 28 Subsequent to his transfer, Shri Suresh B. Menon was appointed as the AO and upon his transfer, the undersigned has been appointed AO in the present case vide order dated April 12, 2019.
Adjudication Order in the matter of Silicon Valley Infotech Limited Page 4 of 28 Rocky Marketing Pvt. Ltd. and Prince Securities in order to create artificial volumes and manipulate the price of the scrip SVIL in CSE.
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Source: SecMarx — sebi:Order/GR/KG/2021-22/11971. 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.