sebi:PKB/AO-45/2011
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Facts / Headnote
The Adjudicating Officer found lapses in the Noticee’s due skill, care and diligence in executing trades for the identified client groups and imposed a penalty under Section 15HB of the SEBI Act, 1992. The penalty amount is not stated in the supplied text.
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 7
Parties
- Shah Investors Home Limited
Holding
The Adjudicating Officer held that the Noticee failed to exercise due skill, care and diligence in relation to circular/reversal trades by its clients in Compuage, Transpek and Alkyl, which created artificial volume and affected price discovery. A penalty was imposed under Section 15HB; the amount is not available in the supplied text.
Full text
Adjudication Order in respect of Shah Investors Home Limited In the matter of Shah Investors Home Limited Page 2 of 23 August 25, 2011
Adjudication Order in respect of Shah Investors Home Limited In the matter of Shah Investors Home Limited Page 3 of 23 August 25, 2011 was relatively high when compared to a month prior to and after the investigation period. It was further observed that during the month of March 2009 there was increased activity in the above mentioned scrips.
Adjudication Order in respect of Shah Investors Home Limited In the matter of Shah Investors Home Limited Page 4 of 23 August 25, 2011 2SI003 Shah Shobhana Suryakant 2SI002 Shah Suryakant Panachand
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Source: SecMarx — sebi:PKB/AO-45/2011. 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.