sebi:SRP/JP/AO:134/2010
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violations held established against the Noticee for manipulative trading and disclosure failures; penalty quantification under sections 15HA and 15A(b) read with 15J discussed
Provisions invoked
- s. 15A
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 7
- Reg. 3
- Reg. 7(1)
- Reg. 4
- Reg. 13
- Reg. 4(1)
- Reg. 4(a)
- Reg. 13(1)
- Reg. 13(3)
- Reg. 13(5)
- Reg. 7(2)
Parties
- Hemant Sheth
Holding
The Noticee, as part of the Narendra Ganatra Group, engaged in synchronized/circular/reversal trades that manipulated price and volume in the illiquid scrip of GIL and assisted promoter entities to offload holdings, violating PFUTP Regulations, and failed to make required disclosures under SAST and PIT Regulations including regulation 13(1).
Full text
Page 2 of 23 Subsequently, he was appointed as one of the directors of the Company on August 1, 2007 and was looking after the day to day affairs of the Company.
Page 3 of 23 SEBI Act for the alleged violation of the provisions of the regulations 4(1) and 4 (2) (a), (b), (e) & (g) of the PFUTP Regulations, regulations 7 (1) & (2) of the SAST Regulations and regulations 13 (1), (3) & (5) of the PIT Regulations.
Page 4 of 23 8. In the matter, I am of the view that sufficient opportunities have already been given to the Noticee to make his submissions and appear before me for the personal hearing. While he has filed his written reply he has chosen not to avail of the opportunity of hearing. Therefore, in the
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:SRP/JP/AO:134/2010. 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.