sebi:Order/KS/AS/2021-22/13187-13195
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Facts / Headnote
Penalty imposed on Noticees for violation of PFUTP Regulations, 2003
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 28A
Regulations
- Reg. 3
- Reg. 3(a)
- Reg. 3(a)(b)(c)
Parties
- Viking Industries Pvt Ltd
- Anand Honwadker
- Bhavana P Bhatt
- Kiritkumar Hiralal Rohit
- Nilesh A Doshi HUF
- Shishir Jayantilal Khandwala
- Minu Nileshkumar Doshi
- Nileshkumar Amrutlal Doshi
- Jigneshkumar Indravadanbhai Shah
- Leena Jigneshkumar Shah
Holding
The Noticees violated Regulations 3(a), (b), (c), (d) and 4(1), 4(2)(a), (e) and (g) of the PFUTP Regulations, 2003 by engaging in synchronized trades, circular trades, reversal trades, self-trades, and LTP manipulation in the scrip of 20 Microns Ltd, and a penalty of Rs. 10,00,000/- was imposed jointly and severally under Section 15HA of the SEBI Act, 1992.
Full text
Adjudication order in the matter of 20 Microns Ltd Page 2 of 58 Nileshkumar A. Doshi, Jignesh I. Shah and Leena J. Shah violated the provisions of Regulations 3(a)(b)(c)(d), 4(1), 4(2)(a), (e) and (g) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003 (hereinafter referred to as PFUTP Regulations, 2003).
Adjudication order in the matter of 20 Microns Ltd Page 3 of 58 exchange website and bank account statements. After examining the said connections, SEBI identified a group of 12 suspected entities including the Company 20 Microns & its promoter M/s Eriez Finance & Investment Ltd. and the Noticees 1 to 9 (hereinafter referred to as ‘the group’). The names, PANs and basis of connections between the group entities are as under: Sr. No. Name PAN Basis of connection
Adjudication order in the matter of 20 Microns Ltd Page 4 of 58 It is observed that 20 Microns is the Company and Eriez Finance & Investment Ltd. did not trade in the scrip of 20 Microns on BSE and NSE during the investigation period. The details of trades of the rest of the group entities are as under: (a) Details of trading by the remaining 10 suspected entities of the group on BSE during the IP are as under: Sr. No. Client Name Gross Buy Gross Sale Net trade Gross Buy % to total Buy Vol Gross Sell% to total Sell Vol 1 Viking Industries Private Limited 2533961 2319787 214174 14.01 12.83 2 Anand Honwadker 1617680 1779133 -161453 8.95 9.84 3 Kiritkumar Hiralal Rohit 1091680 1066902 24778 6.04 5.90 4 Minu Nileshkumar Doshi 743441 711209 32232 4.11 3.93 5 Nilesh A Doshi HUF 663068 641971 21097 3.67 3.55 6 Bhavana P Bhatt 645937 1029919 -383982 3.57 5.70 7 Nileshkumar Amrutlal Doshi 627023 595252 31771 3.47 3.29 8 Jigneshkumar Indravadanbhai Shah 468338 417604 50734 2.59 2.31 9 Leena Jigneshkumar Shah 439830 358047 81783 2.43 1.98 10 Shishir Jayantilal Khandwala 0 18800 -18800 0.00 0.10
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Source: SecMarx — sebi:Order/KS/AS/2021-22/13187-13195. 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.