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Sebi fines Rs 10 lakh on Adamina Traders for fraudulent trading

New Delhi: Capital market regulator SEBI, imposed a 10 Lakh penalty on Adamina Traders Pvt Ltd for fraudulent trading in the scrip of Secunderabad Healthcare Ltd.

Sebi had conducted an investigation into the trading activities in the shares of Secunderabad Healthcare for the period between November 2011 and January 2015.

Sebi fines Rs 10 lakh on Adamina Traders for fraudulent trading

During the investigation, Sebi discovered that the provisions of the Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) Regulations, the regulator said in an order.

In order, the regulator said, it violated the provisions of the PFUTP regulations.

In a separate order, Sebi has imposed a penalty of Rs 3 lakh on Semwal Govindram Dhanesh for insider trading in the matter of Alexander Stamps and Coin Ltd.

Sebi found that Semwal had failed to frame and implement the Code of Conduct as required under the PIT (Prohibition of Insider Trading) rules. In addition, Semwal had transacted in shares in 2015 and was required to disclose to the company, as well as to exchange it under the PIT rules.

However, the company's delay in disclosing information and exchanging the transaction.

Source: Economic Times

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