sebi:WTM/SM/IVD/ID5/17982/2022-23
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
AO Order dated February 24, 2020 set aside; Noticee held guilty of violation of PFUTP Regulations; penalty of INR 1,00,000 imposed under Section 15HA of the SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 15T
Regulations
- Reg. 4
- Reg. 3
- Reg. 3(a)
Parties
- Sushma Agarwal
Holding
The Adjudicating Officer's order dated February 24, 2020 discharging Sushma Agarwal was set aside as erroneous and not in the interests of the securities market, and she was held guilty of violating Regulations 3(a), (b), (c), (d), 4(1), 4(2)(a) and (e) of the PFUTP Regulations by executing 353 manipulative trades in the scrip of Winsome Yarns Ltd. A penalty of INR 1,00,000 was imposed under Section 15HA of the SEBI Act.
Full text
Order in the Matter of Winsome Yarns Ltd. Page 1 of 21 WTM/SM/IVD/ID5/17982/2022-23 BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA
Order in the Matter of Winsome Yarns Ltd. Page 2 of 21 trades which didn’t fall in the category of fair and normal trade and that those trades had caused/resulted in manipulation in the price of the scrip of the Company on the BSE Limited (hereinafter referred to as ‘BSE’) and the National Stock Exchange of India Limited (hereinafter referred to as ‘NSE’). Further, the acts of trading in the scrip of the Company contained elements of creating a misleading appearance of trading in the scrip of Winsome.
Order in the Matter of Winsome Yarns Ltd. Page 3 of 21 created misleading appearance of trading in the scrip by way of indulging in 353 manipulative trades, thereby violating the provisions of Regulations 3(a), (b), (c), (d), 4(1), 4(2)(a) and (e) of PFUTP Regulations. The said SCN was delivered to the Noticee on June 04, 2020 and a proof of such delivery is available on record.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:WTM/SM/IVD/ID5/17982/2022-23. 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.