sebi:PG/AO-37/2010
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty of Rs.2,50,000 imposed on Noticee
Provisions invoked
- s. 15A
- s. 15
- s. 15H
- s. 15J
- s. 12
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- Durgaram Umaram Dudi
Holding
The Noticee violated sections 11C(2) and 11C(3) of the SEBI Act and regulation 3(a), (b), (c) & (d) of PFUTP Regulations and was held liable for monetary penalty under sections 15A(a) and 15HA of the SEBI Act.
Full text
Page 2 of 22 “BSE”), Ahmedabad Stock Exchange (hereinafter referred to as “ASE”), Saurashtra Kutch Stock Exchange, Rajkot (hereinafter referred to as “SKSE”) and Jaipur stock Exchange (hereinafter referred to as “JSE”). It was observed that no transaction in the said scrip was reported at ASE, SKSE and JSE during the investigation period. Hence, for the purpose of investigation the trades done at BSE were considered.
Page 3 of 22 known as Shree Hari Hira Stock Broking (P) Limited) broker-BSE, also assisted the promoters/related entities/other entities /PAC to offload shares by creating artificial demand in the scrip by placing large buy orders at very low prices and later canceling them.
Page 4 of 22 8. It was also alleged that the Noticee had not complied with the summons and therefore, not cooperated with the Investigating Authority (hereinafter referred to as “IA”).
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Source: SecMarx — sebi:PG/AO-37/2010. 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.