sebi:Order/KS/AS/2021-22/12186-12188
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Facts / Headnote
Noticee 1 and Noticee 2 held liable for violations of SCRA and SEBI Act/PFUTP Regulations and subjected to monetary penalty under Section 23H of SCRA and Section 15HA of SEBI Act; no violation established against Noticee 3
Provisions invoked
- s. 20
- s. 15
- s. 12A
- s. 12
- s. 15H
- s. 13
- s. 16
- s. 15J
- s. 28A
- s. 23J
- s. 18
- s. 23
- s. 23H
- s. 17
- s. 16(1)
- s. 18(1)
- s. 28
- s. 28(2)
- s. 1S
Regulations
- Reg. 4
- Reg. 3
- Reg. 9(f)
- Reg. 4(1)
- Reg. 4(2)(a)
- Reg. 3(a)
- Reg. 4(2)(g)
- Reg. 3(b)
- Reg. 2(t)
Parties
- Keshav Shares and Stocks Ltd.
- Surbhi Resorts Private Limited (now Signature Sattva Infratech Pvt. Ltd.)
- Multiplex Capital Ltd.
Holding
Noticee 1 and Noticee 2 violated Section 16 read with Section 13, 18 and 2(i) of SCRA for non-spot-delivery off-market transfer and Section 12A of SEBI Act with Regulations 3 and 4 of PFUTP for reversal/cross deals creating misleading appearance of trading, attracting penalty; charges against Noticee 3 as broker/DP were not established.
Full text
Adjudication order in the matter of A2Z Infra Engineering Ltd Page 2 of 72 and Unfair Trade Practices) Regulations, 2003 (hereinafter referred to as PFUTP Regulations, 2003) and SEBI (Stock Brokers) Regulations, 1992 (hereinafter referred to as Stock Brokers Regulations, 1992), as applicable. Noticee 1, 2, and 3 are hereinafter collectively referred to as “Noticees”. APPOINTMENT OF ADJUDICATING OFFICER
Adjudication order in the matter of A2Z Infra Engineering Ltd Page 3 of 72 inquiry should not be held against them and why penalty, if any, under Section 23H of the SCRA, 1956, and Section 15 HA and Section 15 HB of the SEBI Act, 1992 be not imposed on the Noticees. The SCN is summarized below:
Adjudication order in the matter of A2Z Infra Engineering Ltd Page 4 of 72 March 28, 2016. The total payment paid of Rs. 62,65,675.30 out of which consideration paid was Rs. 56,27,390.30 and an amount of Rs.6,38,285 paid towards interest. The payment of Rs. 50,00,000 was paid on March 29, 2016 and an amount of Rs. 12,65,675.30 was made on April 06, 2016”.
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Source: SecMarx — sebi:Order/KS/AS/2021-22/12186-12188. 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.