sebi:PB/AO-31/2010
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty imposed
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
- Jignesh Shah
Holding
The Noticee (Jignesh Shah trading through DPS Shares & Securities Ltd.) violated regulations 4(1), 4(2)(a), 4(2)(b) and 4(2)(g) of the PFUTP Regulations by engaging in circular, reversal and synchronized trading in KRBL and is liable to a monetary penalty of Rs. 2,50,000 under section 15HA of the SEBI Act.
Full text
Page 2 of 19 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 19 10. Bharati Thakkar Sayyed Mustafa, Prem Prakash Thanvi 11. Uttam Financial Services Own Account 12. Pilot Credit Capital Ltd. Deepak Vyas
Page 4 of 19 7. I find from the records that, the aforesaid SCN was issued to the Noticee at 3/C, Mangaldas Building, 2nd Floor, Room 309, Mumbai – 400 002. However, it is observed that the said SCN had been returned undelivered. Subsequently, the SCN was reissued through DPS Shares & Securities Pvt. Ltd., Member, BSE. However, the Noticee did not reply to the SCN.
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Source: SecMarx — sebi:PB/AO-31/2010. 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.