sebi:PB/AO-09/2010
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Facts / Headnote
Violation not established - matter disposed of without penalty
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 4(2)
Parties
- M/s. Ishita Vinimay Pvt. Ltd.
Holding
The alleged violation of regulations 4(2)(a) and 4(2)(e) of the PFUTP Regulations by M/s Ishita Vinimay Pvt. Ltd. as specified in the SCN dated March 11, 2008 does not stand established and the matter is accordingly disposed of.
Full text
Page 2 of 9 designed to create a false market leading to significant price movement in the scrip which lacked presence of any sort of fundamentals.
Page 3 of 9 4. It was alleged that one of the entities, viz., M/s. Ishita Vinimay Pvt. Ltd. (hereinafter referred to as “Noticee”), client of Purshottam Lal Kejdiwal, Member, CSE (hereinafter referred to as “PLK”) violated the provisions of regulations 4 (2) (a) and 4 (2) (e) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Markets) Regulations, 2003 (hereinafter referred to as “PFUTP Regulations”) and therefore, liable for monetary penalty under section 15HA of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act”).
Page 4 of 9 section 15HA of SEBI Act for the alleged violation specified in the said SCN. The Noticee did not reply to the SCN.
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Source: SecMarx — sebi:PB/AO-09/2010. 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.