sebi:WTM/GM/EFD/92/2017-18
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Noticees Nirmal Pujara, Jayant Pujara and Mrinal Kanti Roy prohibited from buying, selling or dealing in the securities market, directly or indirectly, for a period of five years.
Provisions invoked
- s. 11
- s. 19
Regulations
- Reg. 3
- Reg. 4(1)
- Reg. 4(2)
- Reg. 4(2)(a)
Parties
- Nirmal Pujara
- Jayant Pujara
- Mrinal Kanti Roy
Holding
The three noticees (directors/authorized signatories of the investment companies) violated Regulation 4(1), 4(2)(a) and 4(2)(e) of the SEBI (PFUTP) Regulations, 2003 by participating in circular/reversal/matched trades that created artificial volume and manipulated prices, and were debarred from dealing in securities for five years.
Full text
________________________________________________________________________________ Order in the matter of trading activities of Aditya and Abhilash Page 2 of 17
________________________________________________________________________________ Order in the matter of trading activities of Aditya and Abhilash Page 3 of 17
________________________________________________________________________________ Order in the matter of trading activities of Aditya and Abhilash Page 4 of 17
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Source: SecMarx — sebi:WTM/GM/EFD/92/2017-18. 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.