sebi:WTM/AB/IVD/ID1/8987/2020-21
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Noticee no. 1 and 11 restrained from accessing securities market for one year; proceedings against Noticee no. 12 abated (expired); proceedings against Noticee no. 2, 3, 4, 5, 6, 8, 9, 10 and 22 disposed off; Noticee no. 7, 13, 14, 15, 16, 17, 18, 19, 20, 21 and 23 found to have violated PFUTP Regulations, 2003.
Provisions invoked
- s. 19
- s. 152(2)
Regulations
- Reg. 4(1)
- Reg. 3(a)
- Reg. 3(c)
- Reg. 3(d)
Holding
The order finds Noticee no. 11 (Operator) violated Regulation 3(d) and 4(1) of PFUTP Regulations, 2003; Noticee no. 7, 13 and 16 (name lenders and account operator) violated Regulation 3(d) and 4(1); and Noticee no. 14, 15, 17, 18, 19, 20, 21 and 23 violated Regulations 3(a), 4(1), 4(2)(a) and 4(2)(e) of PFUTP Regulations, 2003 for manipulating the price of GSL scrip. Noticee no. 1 and 11 are restrained from accessing the securities market for one year.
Full text
Final Order in the matter of Global Securities Ltd. Page 2 of 46 The aforesaid entities are hereinafter referred to by their respective names / Noticee numbers and collectively as “the Noticees”.
Final Order in the matter of Global Securities Ltd. Page 3 of 46 closed at Rs. 6.34 (April 30, 2014) in 262 days in 4,205 trades with a volume of 43,13,890 shares.
Final Order in the matter of Global Securities Ltd. Page 4 of 46 as per the details in Annexure 2 of the SCN. Details of allotment are as given below: Table 1
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:WTM/AB/IVD/ID1/8987/2020-21. 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.