sebi:Order/SM/AE/2022-23/17228
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Facts / Headnote
Penalty of Rs. 6,00,000 imposed on the Noticee for violations of Sections 12A(a),(b),(c) of SEBI Act read with Regulations 3(a),(b),(c),(d), 4(1), 4(2)(a) and (e) of PFUTP Regulations.
Provisions invoked
- s. 15
- s. 12A
- s. 15H
- s. 15J
- s. 28A
Regulations
- Reg. 4
- Reg. 3
- Reg. 200
- Reg. 3(a)
Parties
- Mr. Akshay Jitendrakumar Brahambhatt
Holding
The Noticee violated Sections 12A(a),(b),(c) of the SEBI Act read with Regulations 3(a),(b),(c),(d), 4(1), 4(2)(a) and (e) of the PFUTP Regulations by repeatedly placing buy orders of 1 share each at prices higher than the LTP, thereby manipulating the price of the scrip of BTL. A penalty of Rs. 6,00,000 was imposed under Section 15HA of the SEBI Act.
Full text
Page 2 of 16 is also engaged in trading and supplying of all products related to agricultural land and farming. The shares of the company were originally listed in Delhi Stock Exchange. The securities of the company were listed on BSE w.e.f. May 11, 2016 through direct listing. The trading in the shares of the company were subsequently suspended.
Page 3 of 16 on December 06, 2016 and closed at Rs. 50.20 on December 06, 2016 with a net Last Traded Price (LTP) of Rs. 14.80 and a market positive LTP of Rs. 266.25. The LTP analysis of the top ten net LTP contributors was carried out on the buy side and details are as follows:
Page 4 of 16 trading pattern of Noticee for Patch 3 was analyzed and the following was observed: No. of shares traded No. of trades No. of shares bought Buy order qty range Available Sell
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Source: SecMarx — sebi:Order/SM/AE/2022-23/17228. 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.