sebi:PB/AO-36/2010
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Facts / Headnote
Violation established; penalty of Rs.3,00,000 imposed 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
- Sunil Kr. Purohit
Holding
The Noticee, Sunil Kr. Purohit, was held to have 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.3,00,000 under Section 15HA of the SEBI Act, 1992 was imposed on him.
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 through Systematix Shares & Stock (I) Ltd., Member BSE (Formerly known as Southern Shares & Stocks Limited) (hereinafter referred to as “SSL”) of whose, Noticee was a client and the same was signed and acknowledged by the Noticee on June 22, 2007. However, the Noticee did not reply to the SCN.
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Source: SecMarx — sebi:PB/AO-36/2010. 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.