sebi:PB/AO-30/2010
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Facts / Headnote
Penalty of Rs. 2,50,000 imposed under Section 15HA of SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 2
- Reg. 47
- Reg. 4(2)(a)
- Reg. 4(2)(g)
- Reg. 4(2)(b)
Parties
- Naresh N. Shah
Holding
The Noticee violated regulations 4(1), 4(2)(a), 4(2)(b) and 4(2)(g) of the PFUTP Regulations by executing synchronized, circular and reversal trades in the scrip of KRBL. A monetary penalty of Rs. 2,50,000 under Section 15HA of the SEBI Act was imposed on the Noticee.
Full text
Page 2 of 20 3. The entities found to have been involved in the alleged manipulation and against whom adjudication proceedings were initiated are divided into three groups on the basis of their trading vis-à-vis relationship as under:-
Page 3 of 20 10. Bharati Thakkar Sayyed Mustafa, Prem Prakash Thanvi 11. Uttam Financial Services Own Account 12. Pilot Credit Capital Ltd. Deepak Vyas
Page 4 of 20 7. I find from the records that, the aforesaid SCN was issued to the Noticee at 18, Rajasthan Society, Haji Bapu Road, Malad (E), Mumbai – 400 097. However, it is observed that the said SCN had been returned undelivered. Subsequently, SCN was reissued through M/s Jeetendra J. Bhabhera (hereinafter referred to as “JJB”), Member BSE, at 18, Rajasthan Society, Haji Bapu Road, Malad (E), Mumbai – 400 097. The SCN was received and acknowledged by the Noticee as per the acknowledgement forwarded by JJB. However, no reply was received from the Noticee. JJB also informed about the new address of the Noticee for further correspondence i.e. Manoj Palace, Block No. 302, Chakrathat Nagar, Behind New Suryakiran Palace, Nallasopara (W), Thane.
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Source: SecMarx — sebi:PB/AO-30/2010. 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.