Raghav Bahl, Ritu Kapur pay nearly Rs. 61 lakh to settle trade case with Sebi
Raghav Bahl and Ritu Kapur have paid nearly Rs 61 lakh to regulator Sebi, in order to settle a case pertaining to alleged fraudulent trading in the shares of PMC Fincorp Ltd.
Sebi moots swing pricing mechanism for debt MFs
New Delhi: Raghav Bahl and Ritu Kapur have paid nearly Rs 61 lakh to regulator Sebi, in order to settle a case pertaining to alleged fraudulent trading in the shares of PMC Fincorp Ltd.
It was alleged that Bahl and Kapur, by trading with other connected entities, created a misleading appearance of trading and manipulated the price of PMC Fincorp's shares, the Securities and Exchange Board of India (Sebi) noted in a settlement order passed on Tuesday.
By doing so, they allegedly violated Prohibition of Fraudulent and Unfair Trade Practices norms. The regulator had initiated adjudication proceedings pursuant to investigation in PMC Fincorp's shares for the period from March 29, 2012 to March 31, 2015. A show cause notice (SCN) was sent to Bahl and Kapur in July 2020.