sebi:WTM/MPB/EFD1-DRA4/04/2019
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Noticee restrained from accessing the securities market for two years and prohibited from buying, selling or otherwise dealing in securities for two years; existing holdings frozen during the restraint period.
Provisions invoked
- s. 19
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 3(a)
Parties
- Ms. B. Jayanthi (PAN: ASTPJ0593Q)
Holding
The Noticee, Ms. B. Jayanthi, was held to have manipulated the price of the scrip of NCL Research & Financial Services Ltd. during April 2014 to June 2014 by placing buy orders over the Last Traded Price in miniscule quantities and cancelling large buy orders, thereby violating Regulations 3(a)-(d) and 4(1), 4(2)(a) and 4(2)(e) of the PFUTP Regulations. She was restrained from accessing the securities market for a period of two years.
Full text
Order in the matter of NCL Research & Financial Services Ltd. Page 2 of 14 entities in the scrip of NCL during the period April 01, 2012 to September 30, 2014 (hereinafter referred to as “Investigation Period / IP”).
Order in the matter of NCL Research & Financial Services Ltd. Page 3 of 14 Patch 4 (27.06.2014 - 30.09.2014) Vol 4 56 1 (27.08.2014) Multiple Dates 22719 (17.09.2014) Post- Investigation (01.10.2014 - 31.12.2014) Price 308.55 16.80 322.55 (14.10.2014) 14.60 (17.11.2014) 19592 Vol 9 5734 5 (18.12.2014) 216539 (21.11.2014)
Order in the matter of NCL Research & Financial Services Ltd. Page 4 of 14 8 Bharathi D 23.10 6 2 23.10 1 1 0 0 0 5 1 3.25 9 Bala Krishna Kundatiri 20.05 100 2 20.05 5 1 0 0 0 95 1 2.82 10 Kanakray Popatlal Motani 19.10 20 2 19.10 5 1 0 0 0 15 1 2.68 Total Of Top 10 Entities 506.85 532 67 506.90 109 28 -0.05 10 1 413 38 71.22 Total Of Mkt 671 44272 212 711.75 3041 49 - 40.75 458 8 40773 155 100
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Source: SecMarx — sebi:WTM/MPB/EFD1-DRA4/04/2019. 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.