sebi:Order/MC/HP/2021-22/14595-14596
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Facts / Headnote
Violation of Section 12A(a),(b),(c) of SEBI Act read with PFUTP Regulations established against Noticees; quantum of penalty under Section 15HA to be determined with regard to Section 15J factors
Provisions invoked
- s. 15
- s. 12A
- s. 12
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 4
- Reg. 4(1)
- Reg. 3(a)
Parties
- Prakash Ferrous Industries Private Limited
- SS Corporate Securities Ltd.
Holding
The AO found that Noticee 1 and Noticee 2 created misleading appearance of trading and manipulated the price of the scrip of PMC Fincorp by contributing to price rise through positive LTP and by providing liquidity and counterparty to the manipulative group.
Full text
Adjudication Order in the matter of PMC Fincorp Limited Page 2 of 29 APPOINTMENT OF ADJUDICATING OFFICER 2. SEBI appointed the undersigned as Adjudicating Officer (hereinafter referred to as “AO”) under Section15-I of the SEBI Act read with Rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter be referred to as the 'Adjudication Rules'), vide order dated June 26, 2020 to inquire into and adjudge under section 15HA of the SEBI Act, the aforesaid alleged violations against the Noticees. The appointment of the AO was communicated vide order dated June 30, 2020.
Adjudication Order in the matter of PMC Fincorp Limited Page 3 of 29 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 29 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
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Source: SecMarx — sebi:Order/MC/HP/2021-22/14595-14596. 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.