sebi:Order/MC/HP/2021-22/15210-15213
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Facts / Headnote
Violations held established against Noticees 1, 2 and 3 and Noticee 4; liability for monetary penalty under Section 15HA and 15HB of SEBI Act attracted, quantum to be determined with regard to Section 15J factors.
Provisions invoked
- s. 15
- s. 12A
- s. 15H
- s. 15J
Regulations
- Reg. 7
- Reg. 3
- Reg. 4
- Reg. 4(1)
- Reg. 4(2)
- Reg. 18
- Reg. 3(a)
- Reg. 4(2)(g)
- Reg. 201
- Reg. 202
Parties
- Panther Finvest Pvt. Ltd.
- Sushma Kapur (Prop. Shivam Investment)
- APM Financial Consultants Pvt. Ltd.
- Pee Dee Kapur Stock and Securities Limited
Holding
Noticees 1, 2 and 3 violated Section 12A(a),(b),(c) read with PFUTP Regulations by volume and price manipulation in Coral Hub Limited, and Noticee 4 as their broker violated the same provisions plus Regulation 7 read with Schedule II A (3),(4),(5) of Brokers Regulations by aiding and abetting in active connivance.
Full text
Adjudication Order in the matter of Coral Hub Limited Page 2 of 36 Market) Regulations, 2003 (hereinafter referred to as, 'PFUTP Regulations'); and under Section 15HA and 15HB of SEBI Act, against Pee Dee Kapur Stock and Securities Limited (Noticee 4) for the alleged violations of Section 12A(a),(b),(c) of SEBI Act read with Regulation 3(a),(b),(c),(d) and Regulations 4(1), 4(2) (a), (e) and (g) of PFUTP Regulations and Regulation 7 read with Schedule II A (3), (4) and (5) of the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 (hereinafter referred to as, ‘Brokers Regulations’) pursuant to investigation in the matter of trading in the scrip of Coral Hub Limited (CHL/Scrip/Company) by certain entities during the period from December 01, 2008 to March 31, 2009 (IP/investigation period). The Noticees 1 to 4 are collectively referred to as 'Noticees/You'.
Adjudication Order in the matter of Coral Hub Limited Page 3 of 36 4. The allegations levelled against the Noticees in the SCN are summarized as below:
Adjudication Order in the matter of Coral Hub Limited Page 4 of 36 Clients: Top 10 clients at NSE and BSE on the basis of gross buy and gross sell: Buy Client Buy Qty % of buy Qty to the Market buy Qty Sell Client Sell Qty % of sell qty to the market sell qty NSE (Total traded quantity 20,65,140) H K Stock Services Pvt Ltd 1,57,691 7.64 H K Stock Services Pvt Ltd 2,27,195 11.00 Real Marketing Pvt Ltd 1,54,592 7.49 Panther Finvest Pvt. Ltd. 1,45,231 7.03 Panther Finvest Pvt. Ltd. 1,45,231 7.03 Shah Hemendra R 1,06,768 5.17 Sushma Kapur (Prop. Shivam Investment) 1,43,768 6.96 Jigneshbhai Hiralal Shah 1,01,333 4.91 Shobha Imtiyaz Desai 1,04,500 5.06 Real Marketing Pvt Ltd 87,563 4.24 Pravina Rohitkumar Mehta 1,00,000 4.84 Shivam Investment (Prop. Sushma Kapur) 80,268 3.89 Alin Ajaykumar Shah 76,000 3.68 Koshti Securities 73,943 3.58 D. B. Securities P. Ltd. 63,456 3.07 D. B. Securities P. Ltd. 64,948 3.15 APM Financial Consultants Pvt. Ltd. 61,371 2.97 APM Financial Consultants Pvt. Ltd. 61,371 2.97 Vipul Pannalal Shah 49,297 2.39 Hiren Kumar Parshottam Bhai Patel 53,851 2.61 Total 10,55,906 51.13
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Source: SecMarx — sebi:Order/MC/HP/2021-22/15210-15213. 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.