sebi:Order/SM/DP/2022-23/23695
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
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
- Kuber Dealcom Private Limited
Holding
The Adjudicating Officer disposed of the adjudication proceedings against the Noticee without imposing any monetary penalty, finding that the Noticee did not manipulate the price in the scrip or create a misleading appearance of trading.
Full text
In the matter of A.F. Enterprises Limited Page 2 of 11 2. The price movement of the scrip of the company at BSE Limited (hereinafter referred to as “BSE”) during and after the investigation period is summarized under: 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 11 SHOW CAUSE NOTICE, REPLY AND HEARING 4. Based on the findings by SEBI, Show Cause Notice dated November 04, 2022 (hereinafter referred to as 'SCN') was issued to the Noticee under Rule 4(1) of the Adjudication Rules to show cause as to why an inquiry should not be held and penalty be not imposed on it 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 11 further failed to reply despite an opportunity given to it for seeking it’s rationale behind buying shares at Rs. 21 higher than the last traded price.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:Order/SM/DP/2022-23/23695. 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.