2019 (12) TMI 481

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.... Nathabhai Buha, Global Infratech & Finance Limited, S. Krishna Rao, M/s. Padma Impex Private Limited Versus Securities and Exchange Board of India Mumbai       Justice Tarun Agarwala, Presiding Officer, Dr. C.K.G. Nair, Member, Justice M.T. Joshi, Judicial Member     Mr. Vinay Chauhan, Mr. Ashok Bansal, Mr. Ravishekhar Pandey, Ms. Aarti Sathe, Mr. Somasekhar Sundaresan, Mr. Chetan R. Shah, Mr. Geet Shikhar, Mr. Rajesh Khandelwal, Mr. Nirman, Advocate i/b Ms. Shruti Belani, Advocate for the Appellant.    Mr. Pradeep Sancheti, Senior Advocate with Mr. Sumit Rai, Mr. Mihir Mody and Mr. Sushant Yadav, Advocates i/b K. Ashar & Co. for the Respondent. ORDER Tarun Agarwala....

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....ers expeditiously.    3. Thereafter, upon conclusion of the investigation a show cause notice was issued on September 29, 2017 indicating that preferential allotment was followed by an abnormal and huge rise in the price of scrips. After considering the replies and submissions of the parties and the evidence that was brought on record, the WTM passed the impugned order holding that the fraudulent scheme conceived and executed by the appellants was with the common objective of making wrongful gains by manipulating the market and undermining its integrity. The WTM accordingly restrained the appellants from accessing the securities market and further prohibited them from buying, selling or otherwise dealing in securities, directly....