(a) whether the SEBI have launched criminal proceedings
against certain market operators for their role
in creating artificial market in the scrip of
Amara Raja Batteries Limited;
(b) if so, the details of the accused;
(c) whether these accused traded heavily in the
scrip with an intention to create false market; and
(d) the results of the investigations conducted
against them and the steps taken to guard such illegal activities?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI BALASAHEB VIKHE PATIL)
(a) & (b): SEBI has intimated that it has initiated
criminal prosecution proceedings against Hari Narayan
Bajaj and his son, R. Bajaj for their alleged role
in creating artificial market in the Amara Raja Batteries
Ltd. scrip.
(c): SEBI has intimated that Hari Narayan
Bajaj and his son, R. Bajaj traded in the
shares of Amara Raja Batteries Ltd. with
an intention to create false market.
(d): Pursuant to investigations by SEBI, enquiry
proceedings have been initiated against members
of BSE and NSE. Further, SEBI has initiated
proceedings under Section 11B of SEBI Act, 1992
against Hari Narayan Bajaj and his son R. Bajaj.