sebi:VSS/AO-31/2008
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Facts / Headnote
Penalty of Rs.1,50,000 imposed on the Noticee for violation of regulations 4(2)(a) and 4(2)(e) of PFUTP
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 4(2)
- Reg. 2
- Reg. 47
Parties
- M/s PNC Capital Trust Ltd.
Holding
The Noticee (PCTL) violated regulations 4(2)(a) and 4(2)(e) of PFUTP by indulging in synchronized trades that created artificial volumes in the illiquid scrip of GBFL and is liable for monetary penalty under section 15HA of SEBI Act.
Full text
Page 2 of 14 1. GBFL M/s Goenka Business and Finance Limited 2. ASBPL M/s Ashish Stock Broking Pvt. Ltd. 3. SK M/s Sunil Kedia
Page 3 of 14 APPOINTMENT OF ADJUDICATING OFFICER 5. Mr. Piyoosh Gupta was appointed as Adjudicating Officer vide order dated December 12, 2006 under section 15 I of SEBI Act read with rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Rules’) to inquire into and adjudge the alleged violation of regulations 4(2) (a) and 4(2) (e) of PFUTP committed by KLFL.
Page 4 of 14 c. You have mentioned that the address of our company i.e.8, Ganesh Chandra Avenue saha Court Kolkata-700 013 is the same with KLFL and GSSL.But the registered offices of a large number of companies are located in the building Saha Court, two out of which are GSSL and KLFL.
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Source: SecMarx — sebi:VSS/AO-31/2008. 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.