sebi:Order/SM/DP/2022-23/23321-23323
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Facts / Headnote
Proceedings disposed of without imposition of any monetary penalty
Provisions invoked
- s. 12A
- s. 12
- s. 15H
- s. 15I
- s. 15J
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 3(a)
Parties
- Balram Agarwal (Noticee No. 1)
- Ashish Bansal (Noticee No. 2)
- Naresh Kumar Bansal (Noticee No. 3)
Holding
The Adjudicating Officer held that the Noticees had not been shown to have manipulated the price of the scrip or created a misleading appearance of trading, and therefore disposed of the adjudication proceedings without imposing any monetary penalty.
Full text
In the matter of A.F. Enterprises Limited Page 2 of 14 Period Dates Opening Price (volume) on first day of the period (Rs) Closing price (volume) on last day of the period (Rs.) Low price(volume) during the period (Rs.) High Price(volume) during the period (Rs.) Total no. of shares traded during the period (avg. daily vol.) Before Investigation Period Feb 25, 2014 to May 22, 2014
In the matter of A.F. Enterprises Limited Page 3 of 14 show cause as to why an inquiry should not be held and penalty be not imposed on them under section 15HA of SEBI Act for the alleged violation of the provisions of SEBI Act and PFUTP Regulations. The SCN, inter alia, alleged the following:
In the matter of A.F. Enterprises Limited Page 4 of 14 4.4. It was further observed from the trade and order log that Noticee No. 1, 2 and 3 contributed significantly in the New High Price (NHP). The summary of trades by Noticee No. 1, 2 and 3 contributing to NHP during Patch-I is given in the following table: Buyer Name NHP contribution (in Rs.) NHP Contribution to total NHP(in %) No. of NHP Trades Sum of NHP Qty. Balram Agarwal 44.6 20.5 4 111 Ashish Bansal 23.5 10.8 2 105 Naresh Kumar Bansal 6.2 2.85 1 6 TOTAL 74.3 34.15 7 222
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Source: SecMarx — sebi:Order/SM/DP/2022-23/23321-23323. 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.