sebi:WTM/MB/IVD/ID10/7841/2020-21
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Facts / Headnote
Violations of Regulations 3(a),(b),(c),(d) and 4(1), 4(2)(a),(e) of the PFUTP Regulations, 2003 established against the Noticees; directions issued under Sections 11(1), 11(4) and 11B of the SEBI Act, 1992 with immediate effect.
Provisions invoked
- s. 11
- s. 19
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 4(1)
- Reg. 3(a)
Holding
The Noticees were found to have violated Regulations 3(a),(b),(c),(d) and 4(1), 4(2)(a),(e) of the PFUTP Regulations, 2003 by acting as a group under a pre-designed scheme to manipulate the price of PSIT shares through off-market transfers and coordinated miniscule sell orders, and directions were issued under Sections 11(1), 11(4) and 11B of the SEBI Act.
Full text
Order in the matter of PS IT Infrastructure and Services Ltd. Page 2 of 61 14 Shreechand Gulabchand Sarda AAZPS3070K 15 Sanjaykumar Sukhdevaram Maharshi AQGPM2184D 16 Rajesh Kumar Maheshwari HUF AALHR6747N 17 Amol Shreechand Sarda ANVPS5646N 18 Parul Somani BBYPS1156D 19 Dilip Khatri AVEPK4959M 20 Vandana Shankar Magar BLWPM8541C 21 Kavshalyadevi Gulabchand Sarda ANVPS9042G 22 Nilesh Tukaram Ghadshi AJLPG0362K 23 Raj Kumar Sharma BMIPS9482B 24 Rajendra Kumar Kothari AFUPK9415J 25 Saroj Devi Kothari ARCPK1018M 26 Nishant Kothari BJTPK3949M ______________________________________________________________________
Order in the matter of PS IT Infrastructure and Services Ltd. Page 3 of 61 'the price rise period'). During this price rise period the price rose from Rs. 50 to Rs. 466.95.
Order in the matter of PS IT Infrastructure and Services Ltd. Page 4 of 61 9. The name and details of connections of the Noticees are as follows-
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Source: SecMarx — sebi:WTM/MB/IVD/ID10/7841/2020-21. 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.