sebi:VSS/AO-199/2009
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Facts / Headnote
Violation upheld; penalty of Rs. 50,000 imposed under section 15HA of SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 4
- Reg. 4(1)
- Reg. 4(2)(a)
- Reg. 4(2)(e)
Parties
- Priyam Securities - proprietor of Premsukh Bankatlal Khandelwal
Holding
The Noticee, Priyam Securities, was held to have violated regulations 4(1), 4(2)(a) and 4(2)(e) of the PFUTP Regulations by engaging in synchronized trading that created artificial volumes in the scrip of Eltrol, and a penalty of Rs. 50,000 was imposed under section 15HA of the SEBI Act.
Full text
Page 2 of 16 Pilot Credit Capital ltd. Sanchay Fincom Bakliwal Financial M/s. Harikishan Hiralal P.J. Chaudhary Navin Patel Vinod Patel Jayesh Kumar Dalsukhabhai
Page 3 of 16 5. It was alleged that one of the entities, viz., Priyam Securities – proprietor of Premsukh Bankatlal Khandelwal (hereinafter referred to as “Noticee”) had violated regulations 4 (1), 4 (2) (a) and (e) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Markets) Regulations, 2003 (hereinafter referred to as “PFUTP”).
Page 4 of 16 should not be held and penalty be not imposed under section 15HA of SEBI Act for the alleged violation specified in the said SCN.
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Source: SecMarx — sebi:VSS/AO-199/2009. 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.