Sebi imposes Rs 5L fine for fraud

” …impose a penalty of Rs five lakh…on the noticee (Paliwal) which will be commensurate with the violations committed by him,” Sebi said in its order.

In a probe,Sebi had found a spurt of more than 18 per cent in the price ASCL shares during the period from October 10,2008 to November 20,2008,when the BSE’s benchmark Sensex had fallen by around 20 per cent.

Paliwal had carried out synchronised trading in ASCL scrips through the broker Triveni Management Consultancy Services.