Circular Trades: Sebi imposes fine of Rs 16 lakh on two individuals
Markets regulator Sebi today imposed a penalty of Rs 16 lakh on two individuals for indulging in fraudulent trading activities.In three separate but similarly worded orders, the regulator imposed a total fine of Rs 10 lakh on Sunil Purohit and Rs 6 lakh on Haresh Posnak for violation of PFUTP (Prohibition of Fraudulent and Unfair Trade Practices).In Purohit case, Sebi had conducted probe into the alleged irregularity in the trading in shares of Today’s Writing Products Ltd (TWPL) and K Sera Sera Productions during December 2003 to February 2004 and…
Read More