sebi:PKK/AO/105/2011
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Facts / Headnote
Penalty imposed on Noticee for violation of PFUTP Regulations
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
Regulations
- Reg. 3
- Reg. 4
Parties
- Jalaj Batra
Holding
The Noticee Jalaj Batra was found to have violated Regulations 4(1) and 4(2)(a), (b), (d) & (e) of the PFUTP Regulations by indulging in fraudulent and manipulative trading in the scrip of SCL, and a monetary penalty of Rs. 3,00,000 was imposed under Section 15HA of the SEBI Act.
Full text
Page 2 of 10 in circular trading, reversal of deals and exchange of funds and securities. Shri Jalaj Batra (hereinafter referred to as the ‘Noticee’) was one of the major clients who had allegedly traded in a fraudulent and unfair manner and indulged in manipulation in the scrip of SCL.
Page 3 of 10 cause as to why an inquiry should not be held against him and penalty be not imposed under Section 15 HA of the SEBI Act for his alleged violation of the provisions of Regulations 4 (1) and 4 (2) (a), (b), (d) & (e) of the PFUTP Regulations.
Page 4 of 10 The Noticee failed to take the inspection of documents on the said date. Meanwhile, the undersigned vide letter dated May 02, 2011 granted another opportunity of personal hearing to the Noticee on May 13, 2011. The authorized representative of the Noticee attended the said personal hearing. The authorized representative denied all the allegations against the Noticee and undertook to submit written submissions by May 23,
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Source: SecMarx — sebi:PKK/AO/105/2011. 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.