sebi:Order/MC/VS/2020-21/11154-11162
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Facts / Headnote
Adjudication proceedings disposed of; charges not established against any of the Noticees
Provisions invoked
- s. 15
- s. 12A
- s. 12
- s. 15H
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- Mukut Behari Agarwal
- Rajendra Agarwal
- Uttam Modani and Sons HUF
- Kapil Ram Motwani
- Purnima Hoon
- Girish Bhutra HUF
- Priyanka Singh
- Rajesh T. Kevadia
- Preeti Mantri
Holding
The charges of violating Section 12A(a), (b), (c) of the SEBI Act read with Regulations 3(a), (b), (c), (d) and 4(1), 4(2)(a), (e) of the PFUTP Regulations by creating misleading appearance of trading and causing price fall in the scrip of Pincon Lifestyle Ltd. in a manipulative manner are not established against any of the nine Noticees, and the adjudication proceedings are disposed of.
Full text
Adjudication Order in respect of Mukut Behari Agarwal and others in the matter of Pincon Lifestyle Ltd. Page 2 of 22 BACKGROUND 1. Securities and Exchange Board of India (hereinafter referred to as “SEBI”) initiated adjudication proceedings against Mukut Behari Agarwal (“Noticee 1”), Rajendra Agarwal (“Noticee 2”), Uttam Modani and Sons HUF (“Noticee 3”), Kapil Ram Motwani (“Noticee 4”), Purnima Hoon (“Noticee 5”), Girish Bhutra HUF (“Noticee 6”), Priyanka Singh (“Noticee 7”), Rajesh T. Kevadia (“Noticee 8”) and Preeti Mantri (“Noticee 9”) (hereinafter referred to as “the Noticees”) under Section 15HA of the SEBI Act, 1992 (“hereinafter referred to as the “SEBI Act”) for alleged violation of Section 12A (a), (b), (c) of the SEBI Act read with Regulations 3 (a), (b), (c), (d) and 4 (1) and (2) (a) and (e) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003 (“PFUTP Regulations”).
Adjudication Order in respect of Mukut Behari Agarwal and others in the matter of Pincon Lifestyle Ltd. Page 3 of 22 SHOW CAUSE NOTICE, REPLY AND HEARING
Adjudication Order in respect of Mukut Behari Agarwal and others in the matter of Pincon Lifestyle Ltd. Page 4 of 22 demat mode. Out of the aforesaid 912 entities, 304 entities were observed to have sold the shares on BSE in the scrip of Pincon during the investigation period.
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Source: SecMarx — sebi:Order/MC/VS/2020-21/11154-11162. 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.