sebi:QJA/GR/IVD/ID4/31010/2024-25
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Facts / Headnote
Directions issued under Sections 11(1), 11(4), 11(4A), 11B(1), 11B(2) read with Section 19 of the SEBI Act and Rule 5 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995: debarment of Noticees (Murari Lal Sarda and Sushila Sarda for 1 year; Vikas Sarda, Vikas Sarda HUF, Preeti V Sarda and Ashish Sarda for 2 years), monetary penalties under Section 15HA of the SEBI Act, and directions for closing out open derivative positions within 3 months.
Provisions invoked
- s. 19
- s. 11(1)
- s. 12A
- s. 15H
- s. 15J
- s. 11(5)
Regulations
- Reg. 2(c)
- Reg. 3
- Reg. 2(1)(c)
- Reg. 2
- Reg. 3(a)
- Reg. 4(2)(q)
Parties
- Murari Lal Sarda (Noticee No. 1)
- Sushila Sarda (Noticee No. 2)
- Vikas Sarda (Noticee No. 3)
- Vikas Sarda HUF (Noticee No. 4)
- Preeti V Sarda (Noticee No. 5)
- Ashish Sarda (Noticee No. 6)
Holding
The Noticees were found to have committed fraud and engaged in front running the trades of the Big Clients (Parshvanath Finvest Pvt Ltd, Thar Share Brokers Pvt Ltd and Gangwal Commodities Pvt Ltd) in contravention of the PFUTP Regulations and Section 12A of the SEBI Act, and were accordingly debarred for 1-2 years and penalized under Section 15HA of the SEBI Act.
Full text
Order in the matter of trading activities of certain entities suspected to be front running the trades of Parshvanath Finvest Pvt Ltd, Thar Share Brokers Pvt Ltd and Gangwal Commodities Pvt Ltd. Page 2 of 64
Order in the matter of trading activities of certain entities suspected to be front running the trades of Parshvanath Finvest Pvt Ltd, Thar Share Brokers Pvt Ltd and Gangwal Commodities Pvt Ltd. Page 3 of 64
Order in the matter of trading activities of certain entities suspected to be front running the trades of Parshvanath Finvest Pvt Ltd, Thar Share Brokers Pvt Ltd and Gangwal Commodities Pvt Ltd. Page 4 of 64
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Source: SecMarx — sebi:QJA/GR/IVD/ID4/31010/2024-25. 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.