Sebi fines Rs 10 lakh on Adamina Traders for fraudulent trading
Sebi had conducted an investigation into the trading activities in the shares of the Secunderabad Healthcare for the period between November 2011 and January 2015.
By PTI |
ET Online
New Delhi: Capital markets regulator Sebi has imposed a penalty of Rs 10 lakh on Adamina Traders Pvt Ltd for fraudulent trading in the scrip of Secunderabad Healthcare Ltd.
Sebi had conducted an investigation into the trading activities in the shares of the Secunderabad Healthcare for the period between November 2011 and January 2015.
During the probe, Sebi found that Adamina Traders manipulated the price of the scrip and created a misleading appearance of trading in the share.
By doing so, it has violated the provisions of the Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) Regulations, the regulator said in an order.
In a separate order, Sebi has imposed a penalty of Rs 3 lakh on Semwal Govindram Dhanesh for insider trading in the matter of Alexander Stamps and Coin Ltd.
Sebi found that Semwal had failed to frame and implement code of conduct as required under the PIT (Prohibition of Insider Trading) norms.
In addition, Semwal had transacted in the shares of the company in 2015 and was required to disclose to the company as well as to the exchange about it under PIT norms.
However, he made delay in making disclosures to the company as well as exchange about the transaction.
Sebi had conducted an investigation into the trading activities in the shares of the Secunderabad Healthcare for the period between November 2011 and January 2015.
During the probe, Sebi found that Adamina Traders manipulated the price of the scrip and created a misleading appearance of trading in the share.
By doing so, it has violated the provisions of the Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) Regulations, the regulator said in an order.
In a separate order, Sebi has imposed a penalty of Rs 3 lakh on Semwal Govindram Dhanesh for insider trading in the matter of Alexander Stamps and Coin Ltd.
Sebi found that Semwal had failed to frame and implement code of conduct as required under the PIT (Prohibition of Insider Trading) norms.
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In addition, Semwal had transacted in the shares of the company in 2015 and was required to disclose to the company as well as to the exchange about it under PIT norms.
However, he made delay in making disclosures to the company as well as exchange about the transaction.
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