Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY
LIVE TV DownloadNews18 App
News18 English
272
nda:
Needmore seats to Win
Needmore seats to Win
upa:
»
1-min read

Sebi Slaps Rs 40 Lakh Fine on Five Entities for Fraudulent Trade

The five were part of a group of 29 entities that allegedly indulged in reversal trades, the the Securities and Exchange Board of India said.

PTI

Updated:December 26, 2018, 11:45 PM IST
facebookTwittergoogleskypewhatsapp
Sebi Slaps Rs 40 Lakh Fine on Five Entities for Fraudulent Trade
File photo of SEBI building.
Loading...
New Delhi: Markets regulator Sebi on Wednesday imposed a fine totalling Rs 40 lakh on five entities for engaging in fraudulent trade in the shares of Pressman Advertising Ltd. The regulator conducted an investigation from April to August 2013 regarding the trading in the shares of the firm.

During the probe, Sebi found that the entities who were part of a group executed reversal trades through a combination of on-market and off-market transactions which led to artificial volume, thereby creating a false and misleading appearance of trading in the scrips.

The five were part of a group of 29 entities that allegedly indulged in reversal trades, Sebi said. However, out of the total 29, adjudication proceedings have been disposed of under the settlement mechanism in respect of 15 entities, it added. The act of creating artificial volume by the entities violated PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, Sebi said.

In five separate but similarly-worded orders, the regulator said the entities along with the group had created artificial volume by way of reversal of trades and without change in beneficial ownership and thus are liable for monetary penalty.

Accordingly, the Securities and Exchange Board of India (Sebi) fined Shree Aeran Marketing Pvt Ltd Rs 24 lakh, while Rekha Mishra and Vivek Sharma were fined Rs 4 lakh each, Varun Agarwal HUF and Ranjana Agarwal were fined Rs 7 lakh and Rs 1 lakh, respectively.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 
Most Active
Company Price Change %Gain
ICICI Bank 431.75 5.09
Reliance 1,336.85 0.22
SBI 355.35 3.84
IndusInd Bank 1,648.90 3.14
Larsen 1,544.15 4.61
Company Price Change %Gain
GRUH Finance 313.30 -4.42
Reliance 1,336.80 0.07
Larsen 1,543.65 4.60
SpiceJet 141.55 9.64
SBI 354.60 3.59
Top Gainers
Company Price Change %Gain
ICICI Bank 431.75 5.09
Larsen 1,544.15 4.61
Zee Entertain 376.85 4.55
JSW Steel 288.00 4.37
Bharti Airtel 353.20 4.25
Company Price Change %Gain
ICICI Bank 431.50 5.09
Larsen 1,543.65 4.60
Bharti Airtel 353.30 4.40
Vedanta 163.85 4.20
Tata Motors 182.15 4.09
Top Losers
Company Price Change %Gain
Tech Mahindra 735.85 -1.00
NTPC 129.15 -0.54
TCS 2,048.00 -0.29
HUL 1,749.60 -0.24
HCL Tech 1,065.95 -0.04
Company Price Change %Gain
NTPC 129.20 -0.54
HCL Tech 1,061.65 -0.46
TCS 2,049.65 -0.20
HUL 1,749.20 -0.10

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results