Description
SEBI adjudication order against 18 entities for manipulation in SecUR Credentials Limited scrip during February-April 2022.
Summary
SEBI has issued an adjudication order against 18 entities for manipulation in the scrip of SecUR Credentials Limited (SCL) during the period February 21, 2022 to April 27, 2022. The order was issued under Section 15-I of the SEBI Act, 1992 for violations of PFUTP Regulations and other applicable regulations.
Key Points
- 18 entities charged with manipulation in SecUR Credentials Limited scrip
- Investigation period: February 21, 2022 to April 27, 2022
- Violations of SEBI Act, PFUTP Regulations, and Stock Brokers Regulations
- 17 entities charged under Section 15HA of SEBI Act
- 1 entity (Marfatia Stock Broking Pvt. Ltd.) charged under Section 15HB of SEBI Act
- Adjudication proceedings initiated under Section 15-I(1) of SEBI Act
Regulatory Changes
No new regulatory changes announced in this adjudication order.
Compliance Requirements
- All market participants must comply with PFUTP Regulations
- Stock brokers must adhere to Stock Brokers Regulations
- Entities must avoid fraudulent and unfair trade practices
- Proper compliance with securities market regulations is mandatory
Important Dates
- Investigation Period: February 21, 2022 to April 27, 2022
- Adjudicating Officer Appointment: February 06, 2025
- Order Date: September 2025
Impact Assessment
This enforcement action demonstrates SEBI’s continued vigilance against market manipulation and serves as a deterrent to other market participants. The involvement of 18 entities including individuals, LLPs, HUFs, private companies and a stock broking firm indicates the sophisticated nature of the alleged manipulation scheme. The high-profile nature of this case reinforces regulatory commitment to maintaining market integrity.
Impact Justification
Major enforcement action against 18 entities for securities manipulation with significant regulatory implications