sebi:Order/MC/VS/2019-20/6950-6952
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Facts / Headnote
Show Cause Notice dated September 13, 2019 disposed of; allegations not established, no penalty imposed
Provisions invoked
- s. 15
- s. 15H
Regulations
- Reg. 3
- Reg. 4(1)
- Reg. 3(a)
Parties
- Asha Hasmukhbhai Shingala (Noticee No. 1)
- Noticee No. 2
- Asuka Stock Holdings Pvt Ltd (Noticee No. 3)
Holding
The Adjudicating Officer held that the allegations of violation of Regulations 3(a),(b),(c),(d), 4(1) and 4(2)(a) and (e) of the PFUTP Regulations against Noticees 1, 2 and 3 did not stand established, and therefore no penalty under Section 15HA of the SEBI Act was warranted.
Full text
Adjudication Order in the matter of Visagar Polytex Ltd. Page 2 of 39 Holdings Pvt Ltd. (hereinafter referred to as “Noticee No. 3” (hereinafter together referred to as “the Noticees”) for alleged violation of Regulations 3(a), (b), (c), (d), 4(1) and 4(2) (a) & (e) of the SEBI (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 Visagar Polytex Ltd. Page 3 of 39 4. The allegations levelled against the Noticees in the SCN are summarized as follows:-
Adjudication Order in the matter of Visagar Polytex Ltd. Page 4 of 39 Period Opening Price (volume) on first day of the period (Rs) Closing price (volume) on last day of the period (Rs.) Low price(vol ume) during the period (Rs.) High Price(volume) during the period (Rs.) Avg. no. of (shares) traded daily during the period 28/05/20 15 to 31/03/20 16 (Patch-3) Price 121.6 12.9 12.90 (30/03/16) 146 (01/06/15) 115364 Vol. 147970 277094 340 (27/07/15) 837745 (01/02/16)
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Source: SecMarx — sebi:Order/MC/VS/2019-20/6950-6952. 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.