sebi:WTM/PS/80/IVD/ID-03/MARCH/2011
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Facts / Headnote
Certificate of registration suspended for a period of one month
Provisions invoked
- s. 19
Regulations
- Reg. 4
- Reg. 5(1)
- Reg. 13
- Reg. 28(2)
- Reg. 4(2)(a)
- Reg. 28
- Reg. 27
- Reg. 38(2)
Parties
- Sanchay Fincom Limited
Holding
SEBI held that Sanchay Fincom Limited aided and abetted its clients in creation of artificial volume and price in the scrip of DBL in violation of Regulation 4(2)(a) and (b) of PFUTP Regulations and suspended its certificate of registration as stock broker for a period of one month.
Full text
Page 2 of 8 3. Investigation inter alia revealed that Sanchay Fincom Limited, member BSE (hereinafter referred to as ‘noticee’) in-connivance with others had indulged in synchronized and structured deals and executed circular/ reversal of trades in the shares of DBL and thereby created artificial volumes and influenced the price of the scrip.
Page 3 of 8 SEBI shall be free to take such action in the manner as it deemed fit. A copy of the Enquiry Report was also forwarded to the noticee along with the SCN.
Page 4 of 8 8. Having considered this, the issue that arises for my consideration is: Whether the noticee had aided and abetted its client in the creation of artificial volume in the scrip of DBL?
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Source: SecMarx — sebi:WTM/PS/80/IVD/ID-03/MARCH/2011. 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.