sebi:Order/SM/S./2023-24/26106-26110
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Provisions invoked
- s. 15
- s. 12A
- s. 15H
- s. 15J
- s. 28A
- s. 649
Regulations
- Reg. 4
- Reg. 3
- Reg. 2(1)(c)
- Reg. 4(1)
- Reg. 9
- Reg. 3(a)
- Reg. 4(2)(a)
Parties
- Noticee 1 (Om Hari Mahabir Halan HUF)
- Noticee 2
- Noticee 3
- Noticee 4
- Noticee 5
Holding
The Adjudicating Officer found that Noticees 1 to 5, being connected entities, executed synchronised trades among themselves in the scrip of Shree Global Tradefin Limited (SGTL) during patch 1 of the investigation period, thereby manipulating trade volume upwards and creating a misleading appearance of trade in violation of Section 12A(a),(b),(c) of the SEBI Act read with Regulations 3 and 4 of the PFUTP Regulations.
Full text
Adjudication Order in the matter of Shree Global Tradefin Limited Page 2 of 32 APPOINTMENT OF ADJUDICATING OFFICER 2. Vide order dated January 18, 2023, SEBI appointed the undersigned as the Adjudicating Officer under Section 15-I of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as ‘SEBI Act’) and Rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter referred to as ‘Adjudication Rules’) to inquire into and adjudge under Section 15HA of the SEBI Act, the alleged violations of Section 12A(a), (b), (c) of SEBI Act r/w Regulations 3(a), (b), (c) and (d) and Regulations 4(1), 4(2)(a) and (g) of PFUTP Regulations by Noticee 1 to 5 (Hereinafter Noticees 1, 2, 3, 4 and 5 are collectively referred to as ‘Noticees’).
Adjudication Order in the matter of Shree Global Tradefin Limited Page 3 of 32 1 Complete Market Order log and Trade Log file in excel format “W.r.t. your request for complete Market
Adjudication Order in the matter of Shree Global Tradefin Limited Page 4 of 32 Regulation 9 may cover, ranging from information on financial transactions and on other entities in the securities market, which might affect third-party rights. The report may contain market sensitive information which may impinge upon the interest of investors and the stability of the securities market. The requirement of compliance with the principles of natural justice cannot therefore be read to encompass the right to a roving disclosure on matters unconnected or as regards the dealings of third parties. The investigating authority may acquire information of sensitive nature bearing upon the orderly functioning of the securities market. The right of the noticee to disclosure must be balanced with a need to preserve any other third-party rights that may be affected.
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Source: SecMarx — sebi:Order/SM/S./2023-24/26106-26110. 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.