sebi:WTM/KMA/IVD/128/08/2009
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Facts / Headnote
Restrained from accessing the securities market and prohibited from buying, selling and otherwise dealing in securities market, either directly or indirectly, for a period of six months
Provisions invoked
- s. 11
- s. 19
Regulations
- Reg. 11
- Reg. 4(b)
Parties
- Mr. Vijay Singh Bhandari
Holding
The noticee, Mr. Vijay Singh Bhandari, was found guilty of contravening Regulation 4(b), (c) and (d) of the PFUTP Regulations, 1995 for indulging in trade reversals and dealing in large volumes that created artificial volume and manipulated share price. He was restrained from accessing the securities market and from buying, selling or otherwise dealing in securities, directly or indirectly, for a period of six months.
Full text
Page 2 of 8 effect from April 03, 2000. Though, the said suspension was revoked on April 03, 2000, the shares of the company were not traded till August 01, 2000.
Page 3 of 8 and required him to file his reply to the show cause notice. Though, the said reminder was also delivered to him, no reply was submitted by him to SEBI. Subsequently, a notice dated June 26, 2009 was issued to the noticee affording an opportunity of hearing scheduled on July 16, 2009 which was later rescheduled to July 17, 2009. The noticee failed to appear in person or through an authorized representative for the personal hearing.
Page 4 of 8 volumes also increased from 10,000 shares (traded on August 02, 2000) to 1966000 shares (traded on August 21, 2000). The price volume date of the shares of the company during the investigation period is given below:
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Source: SecMarx — sebi:WTM/KMA/IVD/128/08/2009. 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.