Sebi initiated an investigation into the scrip after receiving references that certain entities have manipulated the prices of various shares and generated bogus Long Term Capital Gains (LTCG).
The investigation period was June 6, 2014 to July 31, 2015.
Conduct of the entities was in violation of the Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) norms, it said.
The entities “by way of their acts and trades, which are clearly established to be manipulative and unfair, have violated the provisions of the Regulations,” Sebi said while referring to PFUTP norms.
Penalty has been levied in the range of Rs 5 lakh to Rs 10 lakh each on the entities.
They include Vishnudham Marketing, River High Right Share Brokers, Trucklink Vinmay Trading, Murlidhargiridhar Trading, Dhyaneshwar Dealers, Dreamlight Exim, Helot Properties, Muchmore Vincom, Hanshika Dealers and Rochak Vinimay, apart from four individuals.
As per another order, the markets watchdog slapped a total fine of Rs 55 lakh on
and Investments Ltd and its directors — Vinod Kumar Bansal, Renu Bansal, Seema Mangal, Ankit Agarwa and Radha Agarwal for disseminating misleading information to investors, thereby inducing them to act upon those information and trade in its shares.
The fine amounts vary between Rs 5 lakh to Rs 15 lakh each.
They did not disclose the true and fair view of its financials and disseminated misleading information to investors, Sebi noted.
The regulator said the various circular rotation of funds without any underlying genuine transaction were used to facilitate and aid the scheme of dubious preferential allotment of Pankaj Piyush Trade and Investments.
Separately, Sebi levied a fine of Rs 5 lakh each on directors of Wisdom
for not complying with an interim order of the regulator passed in December 2014 that barred them from mobilising money from public through collective investment schemes.
Govinda Pilai Reghukumaran, Gilbert James Dhason, Kumaresan Vasanthakumari and Jeyashoba Thankappan Rajam are the individuals facing the fine.
Through two separate orders, Sebi slapped a fine of Rs 7 lakh on commodity broker Grovalue Commodity Pvt Ltd and Rs 17 lakh on stock broker Balance Equity Broking (I) Pvt Ltd for violating various market norms.
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