sebi:WTM/PS/IVD/ID-2/50/MAR/10
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty of suspension of certificate of registration for one month imposed on Sanjay R. Shah (SEBI registration no. INB020494913).
Provisions invoked
- s. 19
- s. 550
Regulations
- Reg. 7
- Reg. 4
- Reg. 4(b)
- Reg. 28(2)
- Reg. 5(d)
- Reg. 38(2)
- Reg. 3(2)
Parties
- Sanjay R. Shah
Holding
Sanjay R. Shah (SRS) was found guilty of manipulating the shares of MIL by creating artificial trades/volumes and entering into circular trades at BSE and ASE, in violation of PFUTP Regulations, 1995, Broker Rules, 1992 and Broker Regulations, 1992. A penalty of suspension of his certificate of registration for a period of one month was imposed.
Full text
Page 2 of 9 transactions for the nine days at ASE showed that almost entire trades at ASE during the said period were accounted by circular trades of SRS, Tushar S. Jhaveri and entities connected with them. SRS and related entities executed similar transactions at BSE also during the period from September 25, 2000 to October 13, 2000.
Page 3 of 9 8. I have carefully considered the investigation report, enquiry report, SCN issued by SEBI, reply thereof and the submissions made before me during the personal hearing and other materials available on records.
Page 4 of 9 Buy Details Sell Details Date Set t No . Name of ASE broker Name of client Buy Qty Name of ASE broker Name of client Sell Qty Total no of shares traded at ASE
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Source: SecMarx — sebi:WTM/PS/IVD/ID-2/50/MAR/10. 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.