sebi:WTM/AB/IVD/ID5/23692/2022-23
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Facts / Headnote
Noticees found liable for fraudulent and unfair trade practices (front running); directed to disgorge Rs. 22,88,126 with 12% interest jointly and severally, and penalties of Rs. 10,00,000 (Noticee 1) and Rs. 5,00,000 (Noticee 2) imposed under Section 15HA.
Provisions invoked
- s. 11
- s. 19
- s. 11B
- s. 12A
- s. 15H
- s. 12
- s. 15J
- s. 11C
- s. 15F
- s. 11C(5)
- s. 11C(1)
- s. 11(5)
- s. 11C(7)
Regulations
- Reg. 3
- Reg. 4(1)
- Reg. 4(2)
- Reg. 2(c)
- Reg. 3(a)
- Reg. 4(2)(q)
Parties
- Ketan Bhupendra Parekh
- Bhupendra Jasvantrai Parekh
Holding
The Noticees were held liable for front running the orders of Quest Investment Advisors Private Limited, violating Section 12A(b) of the SEBI Act and Regulations 3(a), 3(c), 4(1) and 4(2)(q) of the PFUTP Regulations, 2003. They were jointly and severally directed to disgorge Rs. 22,88,126 with 12% interest, and penalties of Rs. 10,00,000 and Rs. 5,00,000 were imposed under Section 15HA.
Full text
Final Order in the matter of front running of orders of Quest Investment Advisors Private Limited by Ketan Bhupendra Parekh and Bhupendra Jasvantrai Parekh
Final Order in the matter of front running of orders of Quest Investment Advisors Private Limited by Ketan Bhupendra Parekh and Bhupendra Jasvantrai Parekh
Final Order in the matter of front running of orders of Quest Investment Advisors Private Limited by Ketan Bhupendra Parekh and Bhupendra Jasvantrai Parekh
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Source: SecMarx — sebi:WTM/AB/IVD/ID5/23692/2022-23. 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.