sebi:VSS/AO-04/2009
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Facts / Headnote
Allegations not established; matter disposed of without penalty
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 4(2)
Parties
- Premlata
Holding
The alleged violation of regulations 4(2)(a) and 4(2)(e) of PFUTP by the Noticee Premlata was held not established, and the proceedings initiated vide SCN dated March 11, 2008 were accordingly disposed of without penalty.
Full text
Page 2 of 9 designed to create a false market leading to significant price movement in the scrip which lacked presence of any sort of fundamentals.
Page 3 of 9 4. It was alleged that one of the entities, viz., Mrs.Premlata (hereinafter referred to as “Premlata/Noticee”), client of Purushottam Lal Kejdiwal, Member, CSE (hereinafter referred to as “PLK”) and M/s Rajendra Prasad Shah, Member, CSE (hereinafter referred to as “RPS”) violated the provisions of regulations 4 (2) (a) and 4 (2) (e) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Markets) Regulations, 2003 (hereinafter referred to as “PFUTP”) and therefore, liable for monetary penalty under section 15HA of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act”).
Page 4 of 9 section 15HA of SEBI Act for the alleged violation specified in the said SCN. 8. The Noticee vide letter dated April 11, 2008 replied to the SCN denying the allegations.
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Source: SecMarx — sebi:VSS/AO-04/2009. 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.