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April 2019
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News Headlines
Shiv Sena asks govt to take over Jet Airways        Congress releases list of six candidates for Delhi Lok Sabha seats        SP-BSP-RLD, an alliance of hearts rather than parties: Akhilesh        CM Nath regime intimidating officials: Shivraj Singh Chouhan        Bairstow and Warner lead Sunrisers to 9-wicket victory        Dhoni''s 84* goes in vain as RCB win 1-run thriller against CSK        Sri Lanka serial blasts : Seven arrested over multiple blasts        Pak Prime Minister Imran Khan arrives in Iran        Serial blasts rip through Lanka on Easter Sunday: 228 dead, 450 injured        US confirms deaths of several Americans in Sri Lanka blasts        Pakistan deplores India''s decision to suspend cross-LoC trade        Multiple blasts likely to have "adverse impact" on Lankan tourism: tour operators        Kerala CM condemns terrorist attack in Sri Lanka        French Police detain over 120 people amid Yellow Vest rallies in Paris        Gunmen kill 2 in north Nigeria        Amit Shah: K Surendran represents believers all over world        Asking vote for those who insulted Ambedkar is stooping to new low: Yogi to Mayawati        Congress destroyed nation for last 60 years: Gadkari        Smith guides RR to five wicket win over Mumbai Indians        Iyer, Dhawan half centuries guide DC towards victory against Punjab        
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Business News
Sebi fines 10 entities for fraudulent trading in Mindvision Capital shares
 
(New Delhi, Jan 14,2019): Jan 14 (PTI) Market regulator Sebi imposed a fine totalling Rs 34 lakh on 10 entities for indulging in fraudulent trading in the shares of Mindvision Capital.

The Securities and Exchange Board of India (Sebi) had conducted an investigation in the trading activities of the company between June 2009 and February 2010.

The probe found that the entities were connected to each other and executed circular trading in the scrip of Mindvision, which resulted in creation of artificial volume.

The total volume that was contributed by the circular trading was 94,745 shares which is 12.5 per cent of the total market volume, Sebi noted.

"The scheme, plan, device and artifice employed by the noticees in this case of circular trading, tantamount to fraud on the securities market in as much as it involves manipulative transactions in securities and misuse of the securities market.

"It is established that the acts of noticees by indulging in circular trades were not just a coincidence and the same indicates their concerted effort and manipulative intent to create false and artificial volume of the scrip." Sebi said in its order dated January 11.

By indulging in such trading activities, the entities have violated the Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) Regulations.

Besides, the two entities-- Nilesh Krushna Palande and Dadima Capital also failed to make necessary disclosures regarding change in their shareholding pattern in the firm.

The entities had failed to make requisite disclosures under the provisions of Substantial Acquisition of Shares and Takeovers (SAST) and Prohibition of Insider Trading (PIT) norms.

Accordingly, Sebi has slapped a fine of Rs 5 lakh each on the two entities, while Universal Credit & Securities, Mahesh Ramanlal Shah, Kumar Raichand Madan, Fast Track Entertainment, Pooja Vinay Jain, Pragjibhai Mohanbhai Sukhadiya, Manjulaben P Sukadiya and Mangilal C Doshi HUF have been fined Rs 3 lakh each.


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KERALA NEWS
Kerala CM condemns terrorist attack in Sri Lanka
 Thiruvananthapuram: Kerala Chief Minister Pinarayi Vijayan on Sunday strongly condemned that terrori  
Sexist remark: Electoral Officer warns ruling LDF leader
CPI-M-led LDF holds road show in Wayanad
Toddler in coma after being beaten up; Mother arrested
INTERNATIONAL NEWS
Sri Lanka serial blasts : Seven arrested over multiple blasts
 Colombo: The Sri Lankan government said on Sunday that seven people had been arrested over the multi
Pak Prime Minister Imran Khan arrives in Iran
US confirms deaths of several Americans in Sri Lanka blasts
French Police detain over 120 people amid Yellow Vest rallies in Paris
NATIONAL NEWS
Shiv Sena asks govt to take over Jet Airways
 Mumbai: The Shiv Sena on Monday urged the NDA government to take over the temporarily grounded priva
Congress releases list of six candidates for Delhi Lok Sabha seats
SP-BSP-RLD, an alliance of hearts rather than parties: Akhilesh
CM Nath regime intimidating officials: Shivraj Singh Chouhan
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