Sebi slaps Rs 9 lakh on Moneybee Securities, 2 clients
Capital markets regulator Sebi has imposed Rs 9 lakh fine on brokerage Moneybee Securities and two of its clients for fraudulent trading in shares of New Horizon Leasing and Finance.
Securities and Exchange Board of India has found that Moneybee Securities and its clients – Dhiren Shah (HUF) and Yogesh Laxman Rege – had indulged in synchronised trades in the shares of New Horizon.
Finding them in violation of ‘Prohibition of Fraudulent and Unfair Trade Practices Regulations’, the regulator through a recent order has imposed a penalty of Rs 3 lakh on each one of them.