sebi:Order/VV/NK/2020-21/9989
Facts / Headnote
Show Cause Notice EAD-8/JS/VRP/5507/2018 dated February 21, 2018 disposed of without imposition of penalty
Provisions invoked
- s. 11
- s. 15
- s. 15H
- s. 15I
- s. 15J
Regulations relied on
- SEBI (PFUTP) Regulations, 2003 — 3(a)
- SEBI (PFUTP) Regulations, 2003 — 3(b)
- SEBI (PFUTP) Regulations, 2003 — 3(c)
- SEBI (PFUTP) Regulations, 2003 — 3(d)
- SEBI (PFUTP) Regulations, 2003 — 4(1)
- SEBI (PFUTP) Regulations, 2003 — 4(2)(a)
- SEBI (PFUTP) Regulations, 2003 — 4(2)(e)
Parties
- ISF Securities Limited
Holding
The alleged violations of Regulations 3(a), 3(b), 3(c), 3(d), 4(1), 4(2)(a) and 4(2)(e) of the SEBI (PFUTP) Regulations, 2003 against ISF Securities Limited do not stand established and the Show Cause Notice is disposed of without imposition of penalty.
Full text
Adjudication Order in respect of ISF Securities Limited in the matter of Mefcom Agro Industries Limited . Page 2 of 18 that the Noticee had indulged in self trades during the investigation period. Further the Noticee was also instrumental in increasing the price of the scrip.
Adjudication Order in respect of ISF Securities Limited in the matter of Mefcom Agro Industries Limited . Page 3 of 18 respectively of which Rs. 399.63 and Rs. 268.03 respectively was contributed by the Mefcom group entities as buyers. The details of connected entities called Mefcom Group is placed below:
Adjudication Order in respect of ISF Securities Limited in the matter of Mefcom Agro Industries Limited . Page 4 of 18 7. It was alleged that the Mefcom group entities contributed 60.45% to positive market LTP in 1,275 trades. A positive LTP of Rs. 77.30 i.e. 11.69% of market positive LTP was created in 230 trades by the group entities when they traded among themselves. Further, Mefcom group entities contributed significant amount of Rs. 77.30 positive LTP (11.69% of market positive LTP) by trading among themselves.
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