Sebi warns 3 individuals for violation of trading norms

Capital markets regulator Sebi today warned three individuals for violating trading norms and asked them to be careful and cautious in their future dealings. It was alleged that reversed/circular and synchronised, and the off market transactions were executed by Hardik Maheshbhai Pandya, Falguni Chirag Thakkar and Shalin Kiritkumar Parikh in shares of Crazy Infotech.

Issuing a warning, Sebi advised these individuals to be "cautious in their future dealings and exercise due care and diligence in the conduct of their dealings as participants in the securities market", in a case related to prohibition of fraudulent trading norms.

"Considering the large number of transactions involving many entities, spread over many days during the investigation period, coupled with the fact that 780 of the 823 connected entities and 53 out of 57 entities who had allegedly indulged in reversal/circular/synchronises trades during both the investigation period, have been issued administrative warning by Sebi," Sebi Whole Time Member S Raman said in an order.

"I am of the view that, for the sake of uniformity, Pandya, Thakkar and Parikh also be afforded the same treatment," he added.