sebi:SD/AO/111/2009
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Facts / Headnote
Penalty imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
Regulations
- Reg. 7
- Reg. 3
Parties
- M/s. Sonthalia & Co.
Holding
The Noticee violated Regulations 3, 4(1) and 4(2)(a), (b), (e), (g), (n) and (o) of the PFUTP Regulations and Clauses A(1), (2), (3), (4) and B(4)(a) of the Stock Brokers Code of Conduct and was held liable under Sections 15HA and 15HB of the SEBI Act. A total monetary penalty of Rs.1,25,000 was imposed on M/s. Sonthalia & Co.
Full text
Page 2 of 13 2 rolling segment, the price moved between Rs.521 on May 08, 2003 to Rs.587 on June 30, 2003.The weak fundamentals of ACL could not justify the price movement of 2017% in the scrip within 3 months and 12 days during the period under investigation.
Page 3 of 13 3 4. In response to the said notice to show cause (hereinafter referred to as the ‘SCN’), the Noticee submitted a written reply dated September 6,
Page 4 of 13 4 (d) engage in any act, practice, course of business which operates or would operate as fraud or deceit upon any person in connection with any dealing in or issue of securities which are listed or proposed to be listed on a recognized stock exchange in contravention of the provisions of the Act or the rules and the regulations made thereunder.
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Source: SecMarx — sebi:SD/AO/111/2009. 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.