SEBI fines 21 entities for manipulating share price
By MYBRANDBOOK
Capital markets regulator SEBI has imposed a fine of Rs 1.05 crore on 21 entities for manipulating the share price of Sunstar Realty Development Limited (SRDL). The regulator has imposed a penalty of Rs 5 lakh each on these 21 entities and directed them to pay the amount within 45 days.
These entities were said to be involved in executing manipulative trades and carrying out trades with the connected parties, hence contributing to decreasing the price of the scrip and also in increasing the volume substantially during the investigation period.
SEBI’s Adjudicating Officer Barnali Mukherjee said these 21 entities were not acting as genuine traders and had no bona fide intention to trade in the scrip of SRDL. She said, “I therefore hold that the trading behavior of Noticee no. 1 to 21 vis-à-vis the scrip of SRDL has been ill motivated, fraudulent and was motivated towards manipulating the price of the shares of SRDL as well as to create artificial trading volume in the scrip of the SRDL. Such a trading behaviour is definitely in violation of ...of PFUTP Regulations.”
In a separate order, SEBI has restrained 11 entities, including Urban Infrastructure Venture Capital Ltd, its trustee and their respective directors, from associating themselves with any registered intermediaries, including mutual funds, Alternative Investment Funds and portfolio management services, which deal with investors’ money for a period of one year, for flouting venture capital fund rules.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
BHARAT ELECTRONICS LTD.
HAVELLS INDIA LTD.
FRESHWORKS TECHNOLOGIES PVT. LTD.
DELL TECHNOLOGIES INDIA PVT. LTD.
Icons Of India : Debjani Ghosh
Debjani Ghosh is the President of the National Association of Software...
Icons Of India : Daisy Chittilapilly
Daisy Chittilapilly is the President of Cisco’s India and SAARC regi...
Icons Of India : ASHISH KUMAR CHAUHAN
Ashish kumar Chauhan, an Indian business executive and administrator, ...
LIC - Life Insurance Corporation of India
LIC is the largest state-owned life insurance company in India...
CERT-IN - Indian Computer Emergency Response Team
CERT-In is a national nodal agency for responding to computer security...
STPI - Software Technology Parks of India
STPI promotes and facilitates the growth of the IT and ITES industry i...
Indian Tech Talent Excelling The Tech World - Shantanu Narayen, CEO- Adobe Systems Incorporated
Shantanu Narayen, CEO of Adobe Systems Incorporated, is renowned for h...
Indian Tech Talent Excelling The Tech World - George Kurian, CEO, Netapp
George Kurian, the CEO of global data storage and management services ...
Indian Tech Talent Excelling The Tech World - AJAY BANGA, President - World Bank
Ajay Banga is an Indian-born American business executive who currently...