Adjudication Order in respect of Shri Alpesh Shah in the matter of Aadhaar Ventures India Ltd

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Last updated: 30 September 2020
Quick Summary
This adjudication order concerns Shri Alpesh Shah and his trading activities in Aadhaar Ventures India Ltd (AVIL) shares between January 2009 and April 2015. Investigations revealed that Shri Shah significantly contributed to a drastic fall in AVIL's share price by executing self-trades at lower prices and placing sell orders for single shares below the last traded price, even when buy orders existed at higher rates. These actions allegedly created a misleading appearance of trading and manipulated the scrip's price, leading to proceedings under SEBI's Prohibition of Fraudulent and Unfair Trade Practices Regulations.

Court :
SEBI

Brief :
UNDER SECTION 15-I OF THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 READ WITH RULE 5 OF SEBI (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES) RULES, 1995

Citation :
ADJUDICATION ORDER NO.Order/KS/AE/2020-21/9194

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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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