sebi:Order/SBM/VS/2022-23/16309

SEBI · SEBI · 2020-12-17 · Suresh B Menon, Adjudicating Officer

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Facts / Headnote

Adjudication proceedings disposed of; no penalty imposed

Provisions invoked

• s. 15
• s. 19
• s. 12A
• s. 15H
• s. 15I

Regulations

• Reg. 4
• Reg. 3
• Reg. 3(a)

Parties

• Mr. Amitkumar Rameshchandra Rana

Holding

The Adjudicating Officer held that the Noticee, Mr. Amitkumar Rameshchandra Rana, was not liable for imposition of monetary penalty under Section 15HA of the SEBI Act for alleged violations of Sections 12A(a), (b), (c) of the SEBI Act read with Regulations 3(a), (b), (c), (d), 4(1), 4(2)(a) and 4(2)(g) of the PFUTP Regulations, and disposed of the adjudication proceedings.

Full text

___________________________________________________________________________ Adjudication Order in respect of Mr. Amitkumar Rameshchandra Rana in the matter of Shree Global Tradefin Ltd. Page 2 of 10 APPOINTMENT OF ADJUDICATING OFFICER

___________________________________________________________________________ Adjudication Order in respect of Mr. Amitkumar Rameshchandra Rana in the matter of Shree Global Tradefin Ltd. Page 3 of 10 c. The following is the trading summary of the 'Soni group' during Patch II:-

___________________________________________________________________________ Adjudication Order in respect of Mr. Amitkumar Rameshchandra Rana in the matter of Shree Global Tradefin Ltd. Page 4 of 10 f. Self-trades are fictitious trades without intention of change in beneficial ownership of shares and therefore create artificial volumes in the scrip. From the above table, it is observed that Amitkumar Rameshchandra Rana i.e Noticee had allegedly executed self-trades repeatedly during Patch II. g. In view of the above, Noticee is called upon to show cause as to why penalty be not imposed under Section 15HA for his alleged violation of Section 12A(a), (b) and (c) of SEBI Act read with Regulation 3(a), (b), (c), (d), 4(1), 4(2)(a) and (g) of PFUTP Regulations.

Source: SecMarx — sebi:Order/SBM/VS/2022-23/16309. 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.