sebi:WTM/GM/EFD/1/2018-19
Facts / Headnote
Restraint and prohibition from accessing the securities market and from buying, selling or otherwise dealing in securities directly or indirectly for a period of three years from the date of the order
Provisions invoked
- s. 19
- s. 12A
- s. 143(3)
Regulations relied on
- SEBI (PFUTP) Regulations, 2003 — 3(a)
- SEBI (PFUTP) Regulations, 2003 — 3(b)
- SEBI (PFUTP) Regulations, 2003 — 3(c)
- SEBI (PFUTP) Regulations, 2003 — 3(d)
- SEBI (PFUTP) Regulations, 2003 — 4(1)
- SEBI (PFUTP) Regulations, 2003 — 4(2)(a)
- SEBI (PFUTP) Regulations, 2003 — 4(2)(e)
Holding
SEBI held that FFSL and its connected entities operated a fraudulent scheme through preferential allotments, routing of proceeds and manipulative trading to inflate and then depress the FFSL scrip price in violation of the PFUTP Regulations, and restrained the liable Noticees from accessing and dealing in the securities market for three years.
Full text
_____________________________________________________________________________ Order in the matter of First Financial Services Ltd.
_____________________________________________________________________________ Order in the matter of First Financial Services Ltd.
_____________________________________________________________________________ Order in the matter of First Financial Services Ltd.
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Source: SecMarx — sebi:WTM/GM/EFD/1/2018-19. 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.