sebi:SD/AO/16/2009
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Facts / Headnote
Noticee held guilty of violating Regulation 3(a) of PFUTP Regulations and penalty of Rs. 5,00,000 imposed under Section 15HA of SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 2(1)(c)
- Reg. 3(a)
Parties
- Shri Shailesh Jain
Holding
Shri Shailesh Jain was held guilty of violating Regulation 3(a) of the PFUTP Regulations for fraudulent dealing in the scrip of FTEL. A monetary penalty of Rs. 5,00,000 was imposed under Section 15HA of the SEBI Act.
Full text
Page 2 of 8 of the Securities and Exchange Board of India Act,1992(hereinafter referred to as ‘SEBI Act’). APPOINTMENT OF ADJUDICATING OFFICER :
Page 3 of 8 … to alleged non-production of proof of payment for 2,60,000 shares of FTEL bought, I reiterate that the said sub-broker was maintaining my account in an open, mutual and current account basis in his books of account maintained in his normal and usual course of sub-broking business. The said bills…..
Page 4 of 8 Bhagwandas Shah. 11. As per the details available on record, the scrip of FTEL was listed in the Stock Exchange, Mumbai (hereinafter referred to as BSE), Ahmedabad Stock Exchange(ASE), Vadodara Stock Exchange(VSE). The scrip price witnessed an increase of 341% i.e from Rs 13.16 to Rs 58.05/-, in just six months.
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Source: SecMarx — sebi:SD/AO/16/2009. 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.