sebi:PKK/AO/147/2010
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Facts / Headnote
Charges not established; matter disposed off without imposition of monetary penalty
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 11C
- s. 12
Parties
- Shri Abhayraj Rampher Shukla
Holding
The charges against the Noticee for non-compliance with summons under Sections 11C(2) read with 11C(5) of the SEBI Act were held not established and the matter was disposed off without monetary penalty.
Full text
Page 2 of 7 2. During the investigation it was found that certain entities connected to each other acting as clients with some brokers dealt in the scrip of MCL in a fraudulent manner which resulted in the manipulation of the price of MCL. Their trading contributed in creation of artificial volume and influenced unrealistic price increase.
Page 3 of 7 Adjudicating Officer) Rules, 1995 (hereinafter referred to as the ‘Adjudicating Rules’) to inquire into and adjudge under Section 15A (a) of the SEBI Act, 1992 (hereinafter referred to as the ‘SEBI Act’) the alleged violation by the Noticee of the abovementioned provisions of the SEBI Act. Consequent to Mrs. Rayudu being sent on deputation Mr. Sandeep Deore was appointed as the AO vide SEBI Order dated November 23,
Page 4 of 7 intended to make an application for consent order. However, the Noticee neither submitted any reply to the SCN nor submitted any application for consent.
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Source: SecMarx — sebi:PKK/AO/147/2010. 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.