sebi:SD/AO-20/2009
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Noticee held liable and monetary penalty imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 4(1)
Parties
- Shri Vinod Khetan
Holding
The Noticee, Shri Vinod Khetan, was held to have violated Regulations 4(1), 4(2)(a), (b), (e) and (g) of PFUTP, attracting penalty under Section 15HA of the SEBI Act, and a monetary penalty of Rs. 1,50,000 was imposed.
Full text
Page 2 of 7 Trade Practices Relating to Securities Markets) Regulations, 2003 (hereinafter referred to as “PFUTP”) and therefore, liable for monetary
Page 3 of 7 compassionate grounds since his financial position is not good and he has stopped trading frequently. CONSIDERATION OF ISSUES AND FINDINGS
Page 4 of 7 amounting to 10,40,698 are allegedly synchronized and reversed. The trading with the first 3 entities have formed bulk of the transactions of the Noticee. As I have stated earlier, in a liquid scrip, it would be very difficult to carry out majority of the trades with a particular set of entities. If the Noticee would have executed genuine transactions, the counterparties would have been scattered and would not have concentrated to a few entities.
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Source: SecMarx — sebi:SD/AO-20/2009. 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.