Description
SEBI adjudication order against Mr. Manish Mishra and Mr. Vivek Chauhan for violations in trading activities of Hemo Organic Limited scrip during May-July 2022.
Summary
SEBI issued an adjudication order against Mr. Manish Mishra and Mr. Vivek Chauhan for prima facie violations of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 while trading in Hemo Organic Limited scrip during May 27, 2022 to July 13, 2022.
Key Points
- Investigation conducted into trading activities in Hemo Organic Limited scrip during May-July 2022
- Two individuals identified as violating PFUTP Regulations: Mr. Manish Mishra (PAN: AMPPM6823L) and Mr. Vivek Chauhan (PAN: AHPPC9620A)
- Show Cause Notice issued on October 25, 2024
- Noticees’ representative filed writ petition challenging SEBI’s search and seizure actions
- Matter involves adjudication under Section 15HA of SEBI Act
Regulatory Changes
No new regulatory changes introduced - this is an enforcement action under existing PFUTP Regulations.
Compliance Requirements
The adjudication proceedings are ongoing with the noticees required to respond to show cause notice regarding alleged violations of fraudulent and unfair trade practices regulations.
Important Dates
- Investigation Period: May 27, 2022 to July 13, 2022
- Initial AO appointment: September 25, 2024
- Current AO appointment: November 22, 2024
- Show Cause Notice: October 25, 2024
- Search and Seizure: March 2, 2023
- Document inspection rescheduled: January 31, 2025
Impact Assessment
This enforcement action demonstrates SEBI’s continued vigilance in monitoring trading activities and taking action against potential market manipulation. The case involves specific individuals and a particular scrip, limiting broader market impact while reinforcing regulatory deterrence.
Impact Justification
Enforcement action against specific individuals for trading violations, limited to particular scrip