sebi:Order/NH/YK/2024-25/31098
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty imposed on the Noticee for fraudulent and unfair trade practices
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 12A
- s. 15H
- s. 15J
- s. 141
- s. 24
- s. 65B
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 200
- Reg. 3(a)
Parties
- Hanif Kasambhai Shekh
Holding
The Noticee, Hanif Kasambhai Shekh, was held to have violated Section 12A(a), (b), (c) of the SEBI Act read with Regulations 3(a), 3(b), 3(c), 3(d), 4(1), 4(2)(k), and 4(2)(r) of the PFUTP Regulations by purchasing the domain www.dgfins.com through which unsolicited bulk SMSs with 'buy' recommendations in the scrip of Premier Synthetics Limited were circulated. A monetary penalty of Rs. 11,00,000/- was imposed under Section 15HA of the SEBI Act.
Full text
Adjudication order in the matter of trading activities of certain entities in the scrip of Premier Synthetics Limited Page 2 of 54
Adjudication order in the matter of trading activities of certain entities in the scrip of Premier Synthetics Limited Page 3 of 54
Adjudication order in the matter of trading activities of certain entities in the scrip of Premier Synthetics Limited Page 4 of 54
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Source: SecMarx — sebi:Order/NH/YK/2024-25/31098. 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.