23
Sunday
September 2018
8:11 AM IST
News Headlines
OYO to hire over 2,000 tech experts, engineers by 2020        Thousands rally across Russia against raising pension age        Pak PM Imran hits out at India, calls its response "arrogant" for cancelling talks        Sisodia, AAP MLAs discharged in case related to 2014 protest        We have no role in selection of Reliance Defence for Rafale deal: Govt        Modi, Ambani carried out Rs 1.3 lakh cr 'surgical strike' on defence forces: Rahul on Rafale issue        Chekka Chivantha Vaanam: Second trailer released        Golden Globe Race: Indian Navy Officer Abhilash Tomy injured; INS Satpura dispatched for rescue        India Calls Off Talks With Pak, Says "Imran Khan's True Face Exposed"        Indian govt wanted Reliance for Rafale, we didn't have a choice: Ex-French prez Hollande        Wreckage of Captain Cook’s ship found off US coast        Death toll reaches 136 in Tanzania ferry disaster with scores missing        Ravindra Jadeja, Rohit Sharma take India to comprehensive 7-wicket win        Naomi Osaka Eases into WTA Tokyo Event Semi-final        Let the boundaries go away: Pakistani youth sings Jana Gana Mana with full respect        Three kidnapped cops killed by terrorists in Jammu and Kashmir        Freak penne trending with dislikes and trolls        Kannur International Airport: Kerala to be the first state with four international airports        Kim, Moon join hands on peak of sacred North Korean volcano        Birthday boy Rashid stars in Afghanistan's 136-run win against Bangladesh        
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Business News
Circular Trades: Sebi imposes fine of Rs 16 lakh on two individuals
 
New Delhi, Aug 31 (PTI) Markets regulator Sebi today imposed a penalty of Rs 16 lakh on two individuals for indulging in fraudulent trading activities.

In three separate but similarly worded orders, the regulator imposed a total fine of Rs 10 lakh on Sunil Purohit and Rs 6 lakh on Haresh Posnak for violation of PFUTP (Prohibition of Fraudulent and Unfair Trade Practices).

In Purohit case, Sebi had conducted probe into the alleged irregularity in the trading in shares of Today's Writing Products Ltd (TWPL) and K Sera Sera Productions during December 2003 to February 2004 and from May to July 2005, respectively.

The regulator also conducted an examination during May-July 2005 for possible violations of Sebi norms in scrips of K Sera Sera Productions by Posnak.

Sebi found that the two individuals along with other entities indulged in circular and synchronised trades and thereby created increased artificial volume and entered into transaction in securities without intention of change of beneficial ownership of such securities.

Synchronised or circular trading refers to a practice where the seller and buyer have an understanding between them on trading of specific shares.

By indulging in such transactions, the duo violated PFUTP regulations, Securities and Exchange Board of India (Sebi) said and imposed fine on them.

In a separate order, Sebi today imposed a fine of Rs 3 lakh on one Zakirbhai Motani for fraud trade by creating misleading appearance of increased trading in the scrip of BGIL Films and Technologies.


OYO to hire over 2,000 tech experts, engineers by 2020
Sensex recovers over 100 points on value-buying, global cues
Deepak Kapoor Appointed the new Chairperson of Save the Children
RCom to exit telecom fully to focus on realty: Ambani
Petrol, diesel rates scale new highs
Adani Capital to raise Rs 1,000 cr in growth capital in FY19
Vijaya Bank, Dena Bank, BoB to merge: Govt
Air India utilising just 21 of 27 Dreamliners for daily ops
RBI submitted a list of high profile fraud cases to PMO: Rajan
VU 100-inch 4K HDR smart TV launched in India for Rs 20 Lakh
US dollar ends higher against rupee
Gadkari pitches for alternate fuels; says govt not against petrol, diesel
Air India To Get Rs. 2,100 Crore From Government: Report
SBI hikes benchmark lending rate by 0.2 pc
PM launches India Post Payments Bank; postman to deliver doorstep banking services
IBA elects PNB's Sunil Mehta as chairman
India expected to surpass Britain to become world's 5th largest economy next yr: FM
DeMo led to more tax collection, higher growth: Jaitley
Company director sent to 6 months jail for TDS default
Petrol, diesel at new high; govt hopes it is temporary
KERALA NEWS
Kannur International Airport: Kerala to be the first state with four international airports
 Malappuram: With Kannur International Airport becoming operational, Kerala will be the first state i  
Bar bribery case: Court dismisses the vigilance report
State Kalolsavam to be held in December
Actor Captain Raju passes away at 68
INTERNATIONAL NEWS
Thousands rally across Russia against raising pension age
 Moscow, Sep 22 (AP) Thousands rallied across Russia on Saturday to protest the government's plan to
Pak PM Imran hits out at India, calls its response "arrogant" for cancelling talks
Wreckage of Captain Cook’s ship found off US coast
Death toll reaches 136 in Tanzania ferry disaster with scores missing
NATIONAL NEWS
Sisodia, AAP MLAs discharged in case related to 2014 protest
 New Delhi Sep 22 (PTI) A Delhi court on Saturday discharged Deputy Chief Minister Manish Sisodia, AA
We have no role in selection of Reliance Defence for Rafale deal: Govt
India Calls Off Talks With Pak, Says "Imran Khan's True Face Exposed"
Indian govt wanted Reliance for Rafale, we didn't have a choice: Ex-French prez Hollande
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