November 19, 2008
PR No. 263/2008
Consent orders on the application submitted in the matter of
Order Book Manipulation
In matter of Order Book Manipulation it was observed that the prices of few scrips saw a sudden spurt because of the abnormally large orders of shares placed at prices much below prevailing market prices portraying misleading appearance of market in these shares.
A Panel consisting of Whole Time Members, SEBI, Dr. T.C.Nair and Shri M.S.Sahoo, has passed consent orders dated November 14, 2008, on the applications of consent submitted by Shri Latesh M Chheda, M/s. Neptune Fincot Pvt. Ltd., Shri Viren Kenia, Shri Bhavin S Chheda in the matter of Order Book Manipulation, in accordance with SEBI Circular dated April 20, 2007 for consent orders. The applicants have remitted a sum of Rs.1,00,000/- (Rupees One Lakh only) each towards the terms of consent in the matter.
Mumbai
November 19, 2008
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