sebi:Order/MC/HP/2022-23/16202-16203

SEBI · SEBI · 2020-12-28 · Maninder Cheema, Adjudicating Officer

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Facts / Headnote

Penalty imposed on both Noticees

Provisions invoked

• s. 15
• s. 12A
• s. 15H
• s. 15J

Regulations

• Reg. 3
• Reg. 4
• Reg. 4(1)
• Reg. 3(a)

Parties

• Vipul Pannalal Shah
• H K Stock Services Private Limited

Holding

The Noticees were found to have violated Section 12A(a),(b),(c) of the SEBI Act read with Regulations 3(a),(b),(c),(d) and 4(1), 4(2)(a) and (e) of the PFUTP Regulations by manipulating the price of the scrip through small buy orders placed above LTP. A penalty of Rs. 50,000/- each was imposed on Noticee 1 and Noticee 2 under Section 15HA of the SEBI Act, totaling Rs. 1,00,000/-.

Full text

Adjudication Order in the matter of Coral Hub Limited Page 2 of 23 APPOINTMENT OF ADJUDICATING OFFICER 2. SEBI appointed Shri Amit Pradhan as Adjudicating Officer 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 December 28, 2020 to inquire into and adjudge under section 15HA of the SEBI Act, the aforesaid alleged violations against the Noticees. Subsequently, the undersigned was appointed as Adjudicating Officer (hereinafter referred to as “AO”) vide an order dated June 18, 2021.

Adjudication Order in the matter of Coral Hub Limited Page 3 of 23 6. Trading analysis was carried out for pre-split period and post-split period separately. It was observed that there was no adverse inference drawn from the post-split period. The detail of trading analysis pertaining to pre-split period is as follows:

Adjudication Order in the matter of Coral Hub Limited Page 4 of 23 Anil Shrimal 94,189 5.04 Shah Hemendra R 87,137 4.66 D B Securities Private Limited 78,909 4.22 Nareshkumar Khoobchand Koshti 80,287 4.29 Real Marketing Pvt Ltd 78,552 4.20 Real Marketing Pvt Ltd 75,660 4.05 Mananbhai Ajaybhai Shah 76,000 4.06 Atulbhai Gordhanbhai Vaja 69,959 3.74 Atulbhai Gordhanbhai Vaja 65,255 3.49 Jigneshbhai Hiralal Shah 66,970 3.58 Vipul Pannalal Shah (Noticee 1) 62,519 3.34 Vipul Pannalal Shah (Noticee 1) 62,519 3.34 Anand Yogesh Shares And Consultancy Pvt Ltd 50,920 2.72 Shaishil Tusharkumar Jhaveri 53,204 2.85 Total 8,74,070 46.74 Total 8,64,201 46.21

Source: SecMarx — sebi:Order/MC/HP/2022-23/16202-16203. 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.