SEBI debars 3 market entities for price manipulation

Mumbai, Jun 26 (UNI) Securities and Exchange Board of India (SEBI) has debarred three market entities Heerachand Salecha, Jatin R Shah and Messers Agarwal Shares&Finance Pvt Ltd for their fraudulent and manipulative trading in the scrips of Gujarat Fiscon Ltd, AKL Soft&Infosys Ltd.

SEBI in an order dated June 22 said these entities have created artificial volume in the otherwise illiquid scrips and manipulated their prices.

The market regulator has debarred Heerachand Salecha from accessing the securities market and prohibited from buying, selling or dealing in securities, either directly or indirectly, for a period of six months. While, it has debarred Jatin R Shah and M/s Agarwal Shares&Finance Pvt Ltd for a period of three months.

SEBI has also suspended the Certificate of Registration of M/s Ramaben Samani Finance Pvt Ltd, Member of Bombay Stock Exchange Ltd for a period of fifteen days for their dealing in the scrip of M/s AKL Soft and Infosys Ltd.

The capital market watchdog has issued its orders on June 22 and will come into effect on expiry of 21 days from the date of the Orders, SEBI said.

UNI