sebi:Order/GR/PU/2021-22/14130-14162
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violation held established against Noticees for creation of artificial volume and misleading appearance of trading; penalty under Section 15HA of SEBI Act attracted
Provisions invoked
- s. 15
- s. 12A
- s. 15H
- s. 15J
- s. 28A
Regulations
- Reg. 3
- Reg. 4(2)
- Reg. 200
- Reg. 2
- Reg. 3(a)
Holding
The Noticees along with other connected entities executed synchronized and reversal trades constituting 14.33% of market volume in Venus Power Ventures (India) Ltd. during January 01, 2012 to December 31, 2012, creating artificial volume and misleading appearance of trading, thereby violating Regulations 3(a), (b), (c), 4(1) and 4(2)(a) and (g) of PFUTP Regulations and attracting monetary penalty under Section 15HA of the SEBI Act.
Full text
__________________________________________________________________________________ Adjudication order in the matter of Venus Power Ventures (India) Ltd. Page 2 of 40
__________________________________________________________________________________ Adjudication order in the matter of Venus Power Ventures (India) Ltd. Page 3 of 40
__________________________________________________________________________________ Adjudication order in the matter of Venus Power Ventures (India) Ltd. Page 4 of 40
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Source: SecMarx — sebi:Order/GR/PU/2021-22/14130-14162. 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.