sebi:Order/GR/KG/2021-22/12286-12293
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Facts / Headnote
Ex-parte adjudication order passed against 8 Noticees for alleged misuse of stock exchange mechanism, synchronized trading, and non-cooperation with investigation in the matter of RTS Power Corporation Limited
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 12A
- s. 15H
- s. 15I
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 4
- Reg. 3
- Reg. 3(a)
- Reg. 3(c)
- Reg. 4(2)(a)
Parties
- Mukesh G. Konde
- Ashok Narayan Waje
- Nitesh Ashok Jadhav
- Om Associates
- Bhawani Trading Company
- Rajesh Patel
- Hetal Patel
- Chetan Shah
Holding
The Noticees, having failed to respond to the Show Cause Notice and multiple hearing opportunities, are deemed to have admitted the charges of misusing the stock exchange mechanism, engaging in synchronized trades, and non-cooperation with SEBI's investigation, rendering them liable for penalties under the cited provisions.
Full text
Adjudication Order in respect of 8 entities in the matter of RTS Power Corporation Limited Page 2 of 49 Narayan Waje, Om Associates and Bhawani Trading Company (collectively referred to as the “Noticees” and individually as “Noticee” with respective serial number as stated above) from accessing the securities market and further prohibited from buying, selling or dealing in securities market, directly or indirectly till further orders. BSE was also directed to withhold the payout of February 11, 2009 of Ms. Hetal Patel and Mr. Chetan Shah in a separate escrow account (Rs. 4,31,19,130/-), till further orders. Aggrieved parties were asked to file their objections to order dated June 05, 2009 within fifteen days from the date of this
Adjudication Order in respect of 8 entities in the matter of RTS Power Corporation Limited Page 3 of 49 3. During the course of the investigation, the high and low prices of the shares of RTS during the investigation period at BSE were as below:
Adjudication Order in respect of 8 entities in the matter of RTS Power Corporation Limited Page 4 of 49 2. KONDE 1001069 55500 20000
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Source: SecMarx — sebi:Order/GR/KG/2021-22/12286-12293. 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.