sebi:SD/AO/141/2009
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Facts / Headnote
Penalty imposed on the Noticee for violation of PFUTP Regulations
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 9
Parties
- M/s. Mrigtrishna Consultants (P) Ltd.
Holding
The Noticee, M/s. Mrigtrishna Consultants (P) Ltd., was found to have violated Regulation 4(2)(a) and 4(2)(e) of the PFUTP Regulations by executing fraudulent trades that created a false and misleading appearance of trading and price manipulation in the scrip of CIL, and a monetary penalty of Rs.2,00,000 was imposed under Section 15HA of the SEBI Act.
Full text
Page 2 of 8 witnessing manifold rise in its price. The financial performance of CIL could not justify the said price rise.
Page 3 of 8 Road, Kolkata-700069’ on November 14, 2008, as indicated by the affixture report available on record. 5. Consequent to Ms. Babita Rayudu, the then Adjudicating Officer, proceeding on deputation out of SEBI, the undersigned was appointed as the Adjudicating Officer vide SEBI Order dated November 23, 2007.
Page 4 of 8 (2) Dealing in securities shall be deemed to be a fraudulent or an unfair trade practice if it involves fraud and may include all or any of the following, namely :— (a) indulging in an act which creates false or misleading appearance of trading in the securities market; (e) any act or omission amounting to manipulation of the price of a security;
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Source: SecMarx — sebi:SD/AO/141/2009. 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.