sebi:Order/SM/AE/2022-23/16491-16493
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Provisions invoked
- s. 15
- s. 12A
- s. 15H
- s. 15J
- s. 28A
- s. 138
Regulations
- Reg. 4
- Reg. 3
- Reg. 200
- Reg. 3(a)
- Reg. 3a
Parties
- Mr. Sanjay Jalan
- Ms. Anila Jalan
- Ms. Rinku Jalan
Holding
On the excerpt available, the Adjudicating Officer records that Noticee 2 and Noticee 3 transferred large quantities of Le Waterina shares off-market without receipt of consideration to connected suspected entities who then traded among themselves to create artificial volume and inflate price.
Full text
Page 2 of 56 referred to as ‘Noticee 1/by name’), (2). Ms. Anila Jalan, (hereinafter referred to as ‘Noticee 2/by name’), (3). Ms. Rinku Jalan, (hereinafter referred to as ‘Noticee 3/by name’) (Noticees 1 to 3 hereinafter collectively being referred to as ‘Noticees’), and 13 other entities named in the subsequent para, allegedly violated provisions of Sections 12A(a), (b), (c) Securities and Exchange Board of India Act, 1992 (herein after referred to as ‘SEBI Act’) read with Regulations 3(a), (b), (c) (d), 4(1) and 4(2) (a), (d) and (g) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 (hereinafter referred to as ‘PFUTP Regulations’).
Page 3 of 56 Sonparote was appointed as the AO in the matter. Thereafter, the undersigned was appointed as the AO in the matter vide communique order dated December 31, 2020.
Page 4 of 56 period were suspected connected entities. The details of suspected connected entities (43) and connection among them is enclosed as Annexure-3 and the list of suspected entities is tabulated below:
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