sebi:PM/NR/2020-21/9403
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Facts / Headnote
Violation found; penalty imposed
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 4
- Reg. 4(1)
- Reg. 3(a)
Parties
- Parag Ramesh Kalwankar
Holding
The Adjudicating Officer held that Parag Ramesh Kalwankar violated Regulations 3(a), (b), (c), (d) and 4(1), 4(2)(a) and (e) of SEBI (PFUTP) Regulations, 2003 by manipulating the price of Hasti Finance Ltd. and creating a misleading appearance of trading, and imposed a penalty of Rs.5,00,000 under Section 15HA of the SEBI Act, 1992.
Full text
Adjudication Order in respect of Parag Ramesh Kalwankar in the matter of Hasti Finance Ltd., Page 2 of 15 * no trading between April 6, 2013 to April 10, 2013 ** no trading between the period April 1, 2014 to April 8, 2014
Adjudication Order in respect of Parag Ramesh Kalwankar in the matter of Hasti Finance Ltd., Page 3 of 15 of the provisions of Regulations 3(a), (b), (c), (d),4(1), 4(2)(a) and (e) of SEBI (PFUTP) Regulations.
Adjudication Order in respect of Parag Ramesh Kalwankar in the matter of Hasti Finance Ltd., Page 4 of 15 hearing was scheduled through video conferencing on Webex platform on October 14, 2020. The Noticee vide email dated October 11, 2020 while reiterating his earlier submissions waived off his right of personal hearing. CONSIDERATION OF ISSUES
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Source: SecMarx — sebi:PM/NR/2020-21/9403. 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.