sebi:WTM/MPB/EFD1-DRA4/5/2019
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Facts / Headnote
Restrained Ms. Saira Amanatali Shaikh from accessing the securities market for a period of two years and prohibited her from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the securities market in any manner for two years from the date of the order.
Provisions invoked
- s. 19
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 3(a)
Parties
- Ms. Saira Amanatali Shaikh
Holding
The Noticee manipulated the price in the scrip of Hasti Finance Ltd. and created a misleading appearance of trading in the scrip during April 11, 2013 to March 31, 2014, thereby violating Regulations 3(a),(b),(c),(d) and 4(1), 4(2)(a) and (e) of the PFUTP Regulations. She was restrained from accessing the securities market for two years.
Full text
Order in the matter of Hasti Finance Ltd. Page 2 of 13 3. During the investigation period, corporate announcements were related to AGMs, declaration of financial results, consolidation of share capital, issuance of GDRs, preferential allotment, and other disclosures. No major impact of the corporate announcements on the scrip price was observed. Further, it is observed from the Investigation Report (hereinafter referred to as “IR”) that the company showed a rise in profit during the year ended March 2011 from ` 0.06 crore to ` 0.68 crore and thereafter showed a continuous fall between years ended March 2012 to March
Order in the matter of Hasti Finance Ltd. Page 3 of 13 Investigation – Patch 6 **09/04/2014 to 31/08/2015 (price fall) Price 76.8 12.05 10.8 (29/07/2015) 76.8 (09/04/2014) 25.10 Volume 3 2 1 (05/05/2014) 24580 (13/08/2014) 746 Post Investigation 01/09/2015 to 30/11/2015 Price 12.05 15.49 10.93 (09/10/2015) 15.49 (30/11/2015) 13 Volume 20 18 1 (19/11/2015) 38838 (30/11/2015 2229 * no trading between April 6, 2013 to April 10, 2013 ** no trading between the period April 1, 2014 to April 8, 2014 SHOW CAUSE NOTICE
Order in the matter of Hasti Finance Ltd. Page 4 of 13 5 JEETENDRA NANJI MARU 3.65 10 1 3.65 10 1 0 0 0 0 0 4.46 6 MORBIA SHARAD CHIMANLAL 3.60 1 1 3.60 1 1 0 0 0 0 0 4.40 7 HASMUKHLAL SEVANTILAL DOSHI 3.50 1 1 3.50 1 1 0 0 0 0 0 4.27 8 UJWALA PRAMOD SHEJWADKAR 3.45 10 2 3.45 7 1 0 0 0 3 1 4.21 9 REKHABEN HASMUKHLAL DOSHI 3.30 1 1 3.30 1 1 0 0 0 0 0 4.03 10 RESHMA RAMACHANDRA RAO 2.85 7500 6 2.85 500 1 0 0 0 7000 5 3.48
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Source: SecMarx — sebi:WTM/MPB/EFD1-DRA4/5/2019. 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.