sebi:PKK/AO/181/2011
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Facts / Headnote
Violations not established; matter disposed off
Provisions invoked
- s. 15
- s. 15H
Regulations
- Reg. 4
- Reg. 3
Parties
- Shri Sunny J. Barai
Holding
The alleged violations of Regulations 4 (1), 4 (2)(a) and (g) of the PFUTP Regulations against the Noticee, Shri Sunny J. Barai, do not stand established. The matter is accordingly disposed off without imposition of penalty.
Full text
Page 2 of 5 and Finance Limited, 3. Motilal Oswal Securities Ltd., 4. ANS Pvt. Ltd. and 5. SKSE Securities Ltd. (Sub Broker – G J Zaladi), contributed significantly to the volume by dealing within the group. The trades within the group were mostly synchronized in nature. The group created artificial volume in the scrip which is not very financially sound by indulging into trades within the group in a synchronized manner. Apart from the aforesaid entities, one more entity Shri Sunny J. Barai (hereinafter referred to as the Noticee) was also doing synchronized trading with the group. It was alleged that there was a high counter party concentration among the group and the Noticee and the trades executed were synchronized in nature.
Page 3 of 5 under Sections 15 HA of the SEBI Act, for his alleged violation of the provisions of Regulations 4 (1), 4 (2)(a) and (g) of the PFUTP Regulations.
Page 4 of 5 Consideration of Issues, Evidence and Findings 9. I have carefully perused the charges made against the Noticee as mentioned in the SCN and the documents available on record. In the instant matter the following issues arise for consideration and determination:
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Source: SecMarx — sebi:PKK/AO/181/2011. 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.