sebi:PKB/AO-40/2010
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
The noticee was found to have committed the alleged violations and was ordered to pay a penalty of INR 5,00,000 under Section 15HA and INR 1,00,000 under Section 15HB of the SEBI Act, totalling INR 6,00,000.
Provisions invoked
- s. 15
- s. 15J
Regulations
- Reg. 7
- Reg. 3
- Reg. 2
- Reg. 4(2)(a)
- Reg. 4
- Reg. 4(2)
- Reg. 4(2)(b)
Parties
- P. K. Agarwal & Co.
Holding
The adjudicating officer found that P. K. Agarwal & Co. had engaged in synchronized and cross trades that created a misleading appearance of trading and artificially raised the price of Blue Print Securities Ltd. The noticee was penalized INR 5,00,000 under Section 15HA and INR 1,00,000 under Section 15HB of the SEBI Act.
Full text
Adjudication Order In Respect of P. K. Agarwal & Co. 29/3/2010 In The Matter of Blue Print Securities Ltd. Page 2 of 25 during the investigation period. The details of the said transactions are as follows: S.No Name of the broker Volume Buy/Sell % to total trades at CSE
Adjudication Order In Respect of P. K. Agarwal & Co. 29/3/2010 In The Matter of Blue Print Securities Ltd. Page 3 of 25 SHOW CAUSE NOTICE, REPLY AND HEARING
Adjudication Order In Respect of P. K. Agarwal & Co. 29/3/2010 In The Matter of Blue Print Securities Ltd. Page 4 of 25 FINDINGS ISSUE 1: Whether the noticee has violated Regulations 3, 4(1), 4(2)(a), 4(2)(b), 4(2)(e), 4(2)(g), 4(2)(n) and 4(2)(o) of SEBI (Prohibition of Fraudulent and Unfair Trade Practice Relating to Securities Markets) Regulation, 2003 and Regulation 7 of SEBI (Stock Brokers and Sub-brokers) Regulations, 1992 by contravening Clause A (1), A (2), A (3), A (4) and B(4)(a) of Code of Conduct stipulated in Schedule II of the said Regulations.
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Source: SecMarx — sebi:PKB/AO-40/2010. 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.