sebi:PKK/AO/124/2010
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Facts / Headnote
Disposed of - benefit of doubt given to the Noticee
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(1)
Parties
- M/s. Stockholm Mercantile Company Pvt. Ltd.
Holding
The Adjudicating Officer did not find corroborative evidence establishing that the Noticee dealt in the scrip of MCL in a fraudulent manner or indulged in manipulation, and accordingly gave the Noticee the benefit of doubt, disposing of the matter without imposing any penalty.
Full text
Page 2 of 5 creation of misleading appearance of trading and artificial volume in the scrip. The dealings of the above nature had distorted market equilibrium leading to sudden spurt in the volume and price of the scrip. The investigations revealed that M/s. Stockholm Mercantile Company Pvt. Ltd. (hereinafter referred to as the “Noticee”) is one of the connected entities who had allegedly engaged in such activities.
Page 3 of 5 the Noticee by affixture at its last known address as provided for in the Rule 7 (c) of the Adjudication Rules.
Page 4 of 5 Consideration of Issues, Evidence and Findings 10. I have carefully perused the documents available on record. The issues that arise for consideration in the present case are : a) Whether the Noticee has violated Regulations 4 (1), 4 (2) (a), (b), (e) and (g) of PFUTP Regulations, 2003? b) Does the violation, if any, on the part of the Noticee attract monetary
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Source: SecMarx — sebi:PKK/AO/124/2010. 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.