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The case pertains to Unisys giving monetary help to preferential allottees and enabling these allottees to subscribe to and purchase its personal shares allotted to them on a preferential foundation in March 2011.
The newest order got here after Sebi performed an investigation into the scrip of Unisys throughout January 2010 to November 2014 interval.
It was discovered that the corporate and its promoters had performed an built-in position in making a fraudulent scheme, whereby, by a number of conduits, the allottees have been funded for subscribing to the preferential problem of Unisys.
They perpetrated fraud on traders by giving an impression of capital infusion by preferential allotment and subsequently, restricted the real capital infusion within the firm and thus violated the PFUTP (Prohibition of Fraudulent and Unfair Commerce Practices), the order mentioned.
As well as, the regulator famous that Unisys repetitively gave improper quarterly shareholding sample disclosures to inventory exchanges.
For violation of the norms, the regulator slapped a high-quality of Rs 4 lakh on Unisys and a collective high-quality of Rs 46 lakh on Unisys and different 22 entities.
In the meantime, in 9 separate orders, Sebi imposed penalties amounting to Rs 46.5 lakh on seven entities over non-genuine trades in illiquid inventory choices section of BSE.
The regulator slapped a high-quality of Rs 5 lakh every on Nasik Leisure World Builders, Priti Raika, Dhanvat Rai Shah HUF, Vinod Kumar Kothari and Sons HUF, Sourabh Agarwal HUF, Kamal Kishor Maloo HUF, Om Prakash Banka HUF, Bina Gupta and Bina Kedia. A penalty of Rs 1.5 lakh was imposed on Ashok Kumar Rajgaria HUF.
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