sebi:Order/PM/SM/2021-22/13290
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 15F
- s. 24
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- Moryo Industries Limited
- Insight Multitrading Private Limited
- Esaar (India) Limited
- Rupak Developers Private Limited
- Olympia Multitrading Private Limited
- Surface Finance Private Limited
- Garth Mercantile Private Limited
- Isairis Trading Private Limited
Holding
The Adjudicating Officer held that Moryo Industries Limited, along with other Noticees, was connected to the other entities in the group and had indulged in manipulative trades that increased the price of the scrip of Tilak Finance Limited (TFL), thereby violating Regulations 3(a), 3(b), 3(c), 3(d), 4(1), 4(2)(a) and 4(2)(e) of the SEBI (PFUTP) Regulations, 2003 and liable to penalty under Section 15HA of the SEBI Act, 1992.
Full text
Order in respect of Moryo Industries Limited in the matter of Trading in the Shares of Tilak Finance Limited . Page 2 of 26
Order in respect of Moryo Industries Limited in the matter of Trading in the Shares of Tilak Finance Limited . Page 3 of 26
Order in respect of Moryo Industries Limited in the matter of Trading in the Shares of Tilak Finance Limited . Page 4 of 26
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Source: SecMarx — sebi:Order/PM/SM/2021-22/13290. 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.