sebi:VSS/AO-49/2008
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Facts / Headnote
Violation not established; matter disposed of without penalty
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 4(2)
Parties
- M/s Nageshwar Investment Limited
Holding
The alleged violation of regulations 4(2)(a) and 4(2)(e) of PFUTP by Nageshwar Investment Limited does not stand established and the matter is accordingly disposed of without penalty.
Full text
Page 2 of 12 through collusion with the brokers and other clients, certain entities transacted in the shares of NAG in such a manner that led to creation of artificial volumes in the scrip and was 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 12 7. DEPL M/s Delton Exim(P) Ltd. 8. GCPL M/s Gateway Computer (P) Ltd. 9. TBPL M/s Tricon Business (P) Ltd. 10. AKM M/s Ashwani Kumar Mehra 11. MIPL M/s Millenium Insurance Agent (P) Ltd.
Page 4 of 12 Show Cause Notice No. EAD-5/VSS/SS/119786/2008 dated March 10, 2008 (hereinafter referred to as “SCN”) was issued to the Noticee under rule 4(1) of the Rules to show cause as to why an inquiry should not be held against the Noticee and penalty be not imposed on the Noticee under section 15HA of SEBI Act for the alleged violation specified in the said SCN.
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Source: SecMarx — sebi:VSS/AO-49/2008. 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.