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Home INTERNATIONAL Sebi bars 10 entities for one year over violation of market norms

Sebi bars 10 entities for one year over violation of market norms

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Markets regulator Sebi on Friday restrained 10 entities from accessing the securities market for just one yr for violating market norms while dealing in the scrip of Mystic Electronics Ltd.&#13
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Sebi performed a probe to determine whether or not the entities violated market norms though dealing in the scrip of Mystic.&#13
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The investigation pointed out that the scrip of Mystic witnessed abnormal fluctuation in price and volume during the period of time concerning March 19, 2013, and March 31, 2015.&#13
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Sebi mentioned that particular related entities were contributing to the price rise with their buy orders that were significantly over the past traded price even however the fundamentals of the enterprise would not justify this sort of trades.&#13
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The repeated buy trades considerably previously mentioned the last traded price was not a typical rational conduct and such trades have been executed by the entities with the intention of manipulating the price of Mystic’s scrip.&#13
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The entities violated the Prohibition of Fraudulent and Unfair Trade Techniques norms.&#13
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For that reason, the regulator has barred entities from the securities market for one yr. The entities are Operate Financial Consultants, Beneficial Investment Advisory, Topwell Properties, Manifold Vinimay, Shivkori Design, Amanat Suppliers, Lagan Dealtrade, Limestone Attributes, Consolation Dealcom and Mankind Vintrade.&#13

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