sebi:Order/MC/HP/2021-22/13490-13494
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Facts / Headnote
Penalty imposed jointly and severally on all five Noticees
Provisions invoked
- s. 15
- s. 12A
- s. 12
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 4
- Reg. 4(1)
- Reg. 3(a)
Parties
- Gulshan Investment Company Limited (Noticee 1)
- Prabudh Securities Private Limited (Noticee 2)
- Anoop Jain (Noticee 3)
- Anoop Jain HUF (Noticee 4)
- Vimgi Investment Private Limited (Noticee 5)
Holding
The five Noticees were held liable for violating Section 12A(a),(b),(c) of the SEBI Act read with Regulation 3(a),(b),(c),(d) and Regulations 4(1), 4(2)(a), (e) of the PFUTP Regulations by aiding entities in manipulating the price of PMC Fincorp Limited shares through misleading appearance of trading. A penalty of Rs. 30,00,000 was imposed jointly and severally on all five Noticees under Section 15HA of the SEBI Act.
Full text
Adjudication Order in the matter of PMC Fincorp Limited Page 2 of 48 Market) Regulations, 2003 (hereinafter referred to as 'PFUTP Regulations') pursuant to investigation in the scrip of PMC Fincorp Limited (PMC/Company/Scrip) for the period from March 29, 2012 to March 31, 2015 (IP/investigation period). The Noticees 1 to 5 are collectively referred to as 'Noticees/You'.
Adjudication Order in the matter of PMC Fincorp Limited Page 3 of 48 India as a Non-Banking Financial Company (NBFC) and engaged in activities including Corporate and Personal Finance, Debt Syndication, Private Placement, Arranger, Distribution & Marketing of Financial Products and Dealing & Investment in Stock Market. The company offered its shares in Indian Capital Market through an IPO in the year 1988. The shares of company were listed on UP Stock Exchange Ltd (UPSE) and subsequently got listed on Bombay Stock Exchange Ltd (BSE) on March 12, 2012. As per the MCA website, Company’s registered office is at B-10, VIP Colony, Civil Lines, Rampur, Uttar Pradesh.
Adjudication Order in the matter of PMC Fincorp Limited Page 4 of 48 Period Duration Opening Price/ vol on 1st day of period(Rs.) Closing Price/ Vol on last day of period(Rs.) Low Price/Vol during the Period(Rs.) High Price/Vol during the Period(Rs.) Avg no of shares traded daily during the period Patch 2 07/02/2013 – 19/03/2013 Price (in Rs.) 244 103.15 101 (18/03/2013) 269 (08/02/2013) 161854 Volume 32331 1505 12543 (20/02/2013) 468416 (14/03/2013) Patch 3 20/03/2013- 12/03/2014 Price (in Rs.) 103 807.75 99.55 (20/03/2013) 848.90 (10/03/2014) 25353 Volume 453379 29393 1 (02/04/2013) 524490 (21/03/2013)
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