sebi:SD/AO/62/2010
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Facts / Headnote
Allegations not established; matter disposed with no penalty
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(1)
Parties
- Jaydeep Mane
Holding
The allegations against Noticee Jaydeep Mane do not stand established and the matter is disposed accordingly with no penalty imposed.
Full text
Page 2 of 6 directions are given. The investigation carried out by SEBI reveals the fact that these entities were found to be connected to each other either by way of common address or common contact number or off market trades or association through companies of which the individuals are directors. There are 42 such entities who are allegedly involved in the manipulation of the scrip of MCL, out of which 33 entities were allegedly found to be connected to each other. These entities who transacted in the shares of MCL entered into synchronized and structured deals that led to creation of misleading appearance of trading and creation of artificial volume in the scrip and distorted market equilibrium leading to sudden spurt in the volume and price of the scrip.
Page 3 of 6 imposed on the Noticee under section 15HA of SEBI Act for the alleged violation specified in the said SCN. 7. The Noticee did not reply to the said SCN till date. The said SCN was sent thorugh Registered Post AD and it appears from the record that the said SCN has been duly acknowledged by the Noticee.
Page 4 of 6 12. Regulation 4 (2) reads thus, ‘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:-
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Source: SecMarx — sebi:SD/AO/62/2010. 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.