sebi:PB/AO-18/2011
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Facts / Headnote
Violation established; penalty of Rs.1,00,000 imposed under Section 15HA
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 4(1)
- Reg. 4(a)
- Reg. 2
- Reg. 3(a)
- Reg. 3(c)
- Reg. 3(b)
- Reg. 4(2)(a)
- Reg. 4(2)(g)
- Reg. 3(d)
Parties
- Hardik Mithani
Holding
The Noticee violated regulations 3, 4(1), 4(2)(a) and 4(2)(g) of the PFUTP Regulations by executing synchronized and reversal trades in Kewal Kiran Clothing Limited and is liable to a monetary penalty of Rs.1,00,000 under section 15HA of the SEBI Act.
Full text
Page 2 of 20 Price-Volume date at BSE Date Open Price High Price Low Price Close Price No. of Shares Total Turnover(Rs.) Sensex 26-Dec-07 386.00 440.00 386.00
Page 3 of 20 APPOINTMENT OF ADJUDICATING OFFICER 5. The undersigned has been appointed as Adjudicating Officer vide order dated March 31, 2010 under section 15 I of SEBI Act read with rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Rules’) to inquire into and adjudge the alleged violations of provisions of PFUTP Regulations.
Page 4 of 20 6. It is just a co-incident that my trades match with the order of other parties and is not at all a planned synchronized trading as alleged in the said show cause notice.
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Source: SecMarx — sebi:PB/AO-18/2011. 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.