sebi:PKK/AO/48/2011
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Facts / Headnote
Penalty imposed on Noticee for violation of PFUTP Regulations
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(1)
Parties
- M/s. Pratik Rameshchandra Shah
Holding
The Noticee violated Regulations 4(1), 4(2)(a), (b), (g) and (n) of the PFUTP Regulations, 2003 by engaging in synchronized and structured trades in the scrip of JSL, and a monetary penalty of Rs. 50,000/- was imposed under Section 15HA of the SEBI Act.
Full text
Page 2 of 7 3. In view of the findings of the Investigation as given above, SEBI has initiated adjudication proceedings under the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as the ‘‘SEBI Act’’), against M/s. Pratik Rameshchandra Shah (hereinafter referred to as “Noticee”), for allegedly violating the provisions of Regulations 4(1), 4(2)(a), (b), (g) and (n) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Markets) Regulations, 2003 (hereinafter referred to as “PFUTP Regulations”).
Page 3 of 7 during the relevant period and engaged in synchronized/structured/matched transactions. 6. The said allegations made in the SCN are supported by Annexures 1-2. Annexure 1 contains details of the structured trades entered into between the Noticee and other entities in the scrip of JSL. Annexure 2 contains the details of synchronized trades executed between the Noticee and other entities.
Page 4 of 7 However, in order to pass a speaking order, the undersigned is going to analyse the evidences and allegations made against the Noticee.
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Source: SecMarx — sebi:PKK/AO/48/2011. 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.