sebi:Order/MC/DS/2020-21/7519-7527
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Facts / Headnote
Noticees 1, 2, 3, 4, 5 and 9 found in violation of PFUTP Regulations; Noticees 6, 7 and 8 absolved; penalty imposed commensurate with violations
Provisions invoked
- s. 15H
- s. 15J
- s. 15I(2)
Regulations
- Reg. 4(a)
- Reg. 3
- Reg. 4(2)
- Reg. 3(a)
Parties
- Bijay Kumar Chourasia
- Shyam Kanheyalal Vyas
- Jyoti Jha
- Mukund Kumar Jha
- Satyendra Kumar Jha
- Ranjit Singh Bothra and Sons HUF
- Ashoka Majumdar
- Anand V Sheth
- Prem Lata Nahar
Holding
Noticees 1, 2, 3, 4, 5 and 9 violated regulations 3(a)-3(d) and 4(2)(a) & (e) of the PFUTP Regulations by engaging in trades designed to create a misleading appearance of trading and artificially manipulate the price of Mapro Industries Limited scrip. Noticees 6, 7 and 8 were not found to be part of the manipulative scheme as no connection with other Noticees was established.
Full text
BEFORE THE ADJUDICATING OFFICER SECURITIES AND EXCHANGE BOARD OF INDIA CORRIGENDUM To [ADJUDICATION ORDER Ref No.: Order/MC/DS/2020-21/7519-7527]
Adjudication Order in the matter of Mapro Industries Limited Page 2 of 41 1. Securities and Exchange Board of India (hereinafter be referred to as, “SEBI”) conducted investigation in the scrip of Mapro Industries Limited (hereinafter be referred to as, the 'Mapro /MIL/ Scrip / Company'), a company listed on the BSE Limited (hereinafter be referred to as, the “BSE”) for the period November 20, 2013 to June 30, 2014 (hereinafter be referred to as, the ‘investigation period / IP’). Investigation revealed that (1) Bijay Kumar Chourasia, (2) Shyam Kanheyalal Vyas, (3) Jyoti Jha, (4) Mukund Kumar Jha, (5) Satyendra Kumar Jha, (6) Ranjit Singh Bothra and Sons HUF, (7) Ashoka Majumdar, (8) Anand V Sheth and (9) Prem Lata Nahar (hereinafter referred to as ‘the Noticee No. 1 to 9’ respectively or as "the Noticees / You" collectively) were allegedly in violation of regulation 3(a) - 3(d) and regulation 4(2) (a) & (e) of the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 (hereinafter referred to as the ‘PFUTP Regulations’).
Adjudication Order in the matter of Mapro Industries Limited Page 3 of 41 4. The allegations levelled against the Noticees in the SCN are summarized as below:
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Source: SecMarx — sebi:Order/MC/DS/2020-21/7519-7527. 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.