sebi:WTM/MPB/SEBI/EFD/DRA-3/28/2018
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Facts / Headnote
Noticees held liable for violations of Sections 12A(a), 12A(b), 12A(c) of the SEBI Act, 1992 and Regulations 3(a), 3(b), 3(c), 3(d) and 4(1) of the PFUTP Regulations; directed to disgorge unlawful gains with 12% simple interest, with freeze on bank/demat accounts and further 5-year restraint if non-compliant
Provisions invoked
- s. 11B
- s. 11(4)
- s. 19
- s. 12A
- s. 28A
Regulations
- Reg. 4
- Reg. 2(c)
- Reg. 3
- Reg. 2(1)(c)
- Reg. 199
- Reg. 4(2)
- Reg. 2
- Reg. 4(1)
- Reg. 3(a)
- Reg. 4(2)(q)
- Reg. 25(16)
Parties
- Mr. Nilesh Kapadia
- Mr. Rajiv Sanghvi
- Rajiv Sanghvi-HUF
- Mr. Sanjay Sanghvi
- Ms. Dipti Mehta
- Ms. Sonal Sanghvi
- Ms. Kalpana Kapadia
Holding
The Noticees violated Sections 12A(a), 12A(b) and 12A(c) of the SEBI Act, 1992 and Regulations 3(a), 3(b), 3(c), 3(d) and 4(1) of the PFUTP Regulations, 2003 by front running HDFC Group's trades, and are directed to disgorge unlawful gains with 12% simple interest.
Full text
________________________________________________________________________________ Order in respect of Mr. Nilesh Kapadia, Mr. Rajiv Sanghvi and Ors. Page 2 of 49
________________________________________________________________________________ Order in respect of Mr. Nilesh Kapadia, Mr. Rajiv Sanghvi and Ors. Page 3 of 49
________________________________________________________________________________ Order in respect of Mr. Nilesh Kapadia, Mr. Rajiv Sanghvi and Ors. Page 4 of 49
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Source: SecMarx — sebi:WTM/MPB/SEBI/EFD/DRA-3/28/2018. 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.