sebi:PB/AO-65/2010
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Facts / Headnote
Penalty imposed on the Noticee for violation of PFUTP Regulations
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
- Arjun P. Suryavanshi
Holding
The Noticee, Arjun P. Suryavanshi, was found to have 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 the scrip of KRBL through broker PKJ, and a penalty of Rs. 25,000 was imposed 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 at “255/18, Sankalp, Sector No. 2, Charkop, Kandivali (W), Mumbai – 400 067. The SCN was acknowledged by the Noticee. The Noticee vide his letter dated May 04, 2007 replied that he has been misguided and involved in this matter by one Mr. Sayyed Mustafa.
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Source: SecMarx — sebi:PB/AO-65/2010. 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.