sebi:SD/AO/94/2009
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Facts / Headnote
Penalty imposed on the Noticee for fraudulent and unfair trade practices
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 4
- Reg. 2(1)(c)
- Reg. 4(1)
Parties
- M/s Vintel Securities Pvt. Ltd.
Holding
The Noticee, M/s Vintel Securities Pvt. Ltd., was held liable for violating Regulation 4(1), 4(2)(a) and 4(2)(e) of the PFUTP Regulations by dealing fraudulently in the scrip of MCL, and a penalty of Rs. 3,00,000/- was imposed under Section 15HA of the SEBI Act.
Full text
Page 2 of 10 fraudulent manner. The activities of these entities facilitated the creation of artificial volumes and influenced the price of the scrip of MCL.
Page 3 of 10 undersigned, asking it to show the cause as to why an enquiry should not be conducted against it and penalty, as prescribed be not imposed under Section 15HA of SEBI Act for its violation of the provisions of Regulation 4(1), 4(2)(a) and 4(2)(e) of PFUTP Regulations.
Page 4 of 10 August 25, 2009 that no application for consent proceedings have been filed by the Noticee. In view of these, I construe that the Noticee does not wish to opt for consent proceedings. Therefore, the matter is now proceeded on the basis of material available on record.
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Source: SecMarx — sebi:SD/AO/94/2009. 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.