sebi:PB/AO-32/2010
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Facts / Headnote
Ex-parte order holding Noticee liable and imposing penalty of Rs. 2,00,000 under Section 15HA
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
- Ramasudhakaran
Holding
The Noticee, trading in KRBL scrip through MJSB, violated regulations 4(1), 4(2)(a), 4(2)(b) and 4(2)(g) of PFUTP Regulations by indulging in circular, reversal and synchronized trades creating artificial volume, and is liable to monetary penalty of Rs. 2,00,000 under Section 15HA of 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 at last known address B-304, Geetha Bhavan, Geeta Nagar, Phase 3, Mira Road (E), Mumbai – 401 107. The same was signed and acknowledged by the Noticee on April 27, 2007. However, the Noticee did not reply to the SCN.
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Source: SecMarx — sebi:PB/AO-32/2010. 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.