sebi:Order/PM/PA/2021-22/14813
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Facts / Headnote
Noticee held liable for violating PFUTP Regulations; penalty imposed under section 15HA of the SEBI Act (amount not specified in the provided text)
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15I
- s. 15J
Regulations
- Reg. 3
- Reg. 4
- Reg. 3(a)
Parties
- Sharekhan Ltd.
Holding
The Noticee, Sharekhan Ltd., was found to have violated regulations 3(a), 3(b), 3(c), 3(d), 4(1), 4(2)(a) and 4(2)(e) of the PFUTP Regulations by executing 13 trades of 1 share each during Patch 2 of the Investigation Period, which contributed to negative LTP and NLP in the scrip of Sampada Chemicals Ltd.
Full text
Adjudication Order in respect of Sharekhan Ltd., Page 2 of 25 In the matter of Sampada Chemicals Ltd. 6,26,469 shares, which was 13.65% of the total traded volume of 45,89,967 shares of the Investigation Period. The price of the Sampada scrip during this patch decreased from Rs 489.90 to Rs 134.75 i.e., a decrease of Rs 355.15. On analysis of the new low price trades (hereinafter referred to as “NLP”), it was observed that in majority of the instances, Sharekhan Ltd. (hereinafter referred to as the “Noticee”) appeared as buyer to the NLP trades.
Adjudication Order in respect of Sharekhan Ltd., Page 3 of 25 In the matter of Sampada Chemicals Ltd. B. APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of Sharekhan Ltd., Page 4 of 25 In the matter of Sampada Chemicals Ltd. was acceded to. In the meanwhile, the Noticee vide email dated March 12, 2021 submitted its reply. Further, the Noticee was given an opportunity of hearing on April 29, 2021, which was communicated vide email dated April 20,
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Source: SecMarx — sebi:Order/PM/PA/2021-22/14813. 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.