sebi:WTM/GA/82/ISD/08/06
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Facts / Headnote
Suspension of certificate of registration for a period of fifteen days
Provisions invoked
- s. 12
Regulations
- Reg. 13(4)
- Reg. 5(1)
- Reg. 13(2)
- Reg. 3
- Reg. 7
- Reg. 199
- Reg. 17(1)
- Reg. 17(1)(i)
- Reg. 13(1)(a)
- Reg. 4(a)(b)(c)
Parties
- M/s Trimity Investments & Financial Services Pvt. Ltd
Holding
The Whole Time Member imposed a minor penalty of suspension of the certificate of registration of Trimity Investments & Financial Services Pvt. Ltd for fifteen days for violating Regulation 17(1)(i), Clauses A(1) and (2) and B(4)(a) of the Code of Conduct and the SEBI circular dated February 11, 1997.
Full text
Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ Order against M/s Trimity Investments & Financial Services Pvt. Ltd 29/10/2025, 15:09 about:blank about:blank 1/3
1.0 BACKGROUND 1.1 M/s Trimity Investments & Financial Services Pvt. Ltd (hereinafter referred to as the Broker) is a member of the Pune Stock Exchange Ltd. (hereinafter referred to as PSE) and is registered with the Securities and Exchange Board of India (hereinafter referred to as SEBI) as a stock broker under Section 12 of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as the Act) with registration number INB110910534. 1.2 The scrip of Home Trade Ltd. (hereinafter referred to as HTL) was listed at PSE on November 15, 1999 at Rs 250/- and at Bangalore Stock Exchange Ltd. (hereinafter referred to as BgSE) on November 16, 1999 at Rs.275/-. There was a very sharp rise in the price of the scrip of HTL both at PSE and BgSE. The price of the scrip of HTL at PSE reached Rs.315/ -within two weeks of its listing, i.e. by December 06, 1999. The subsequent rise in the price of the scrip of HTL is as detailed below: Date Price (Rs.) December 30, 1999 525.00 January 31, 2000 735.00 March 31, 2000 809.00 May 5, 2000 874.00
1.3 The maximum rise in the price of the scrip of HTL took place between November 16, 1999 and March 31, 2000, when it moved from Rs.275/- to Rs.815/-. 1.4 SEBI conducted an investigation into the buying, selling and dealings in the scrip of HTL inter alia by the members of PSE including the Broker for alleged circular trading and price manipulation thereby contravening the provisions of SEBI (Prohibition of Fraudulent and Unfair Trade practices Relating to Securities Markets) Regulations, 1995 (hereinafter referred to as FUTP Regulations) and SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 ( hereinafter referred to as the Broker Regulations). 1.5 Upon investigation, SEBI inter alia found that the Broker along with some other members of PSE had executed substantial trades in the scrip of HTL which had contributed for significant volume for more than 90% of the volumes of trading in the said scrip of HTL at PSE. The said transactions were not genuine and made only for the purpose of creating artificial price and volume. The Broker had purchased and sold 75,200 shares of HTL (amounting to 10.78% to the total volume in the said scrip at PSE) during the period April 01, 2000 to March 31,
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Source: SecMarx — sebi:WTM/GA/82/ISD/08/06. 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.