Bahl, Kapur settle case with Sebi, pay Rs 61 lakh for rule breach

Raghav Bahl and Ritu Kapur have settled a matter with market regulator Sebi by paying nearly Rs 61 lakh for alleged violation of Prohibition of Fraudulent and Unfair Trade  Practices (PFUTP) regulations. The matter pertains to dealing in shares of PMC Fincorp between March 2012 and March 2015. "...it was alleged that Noticee 1and2 (Bahl and Kapur) by trading with other connected entities created misleading appearance of trading and manipulated the price of the scrip and thereby it was alleged that they have violated Section 12 A(a),(b),(c) of the Sebi Act read with Regulation 3(a), (b), (c), (d) and Regulation 4(1), 4(2) (a) &(e) of PFUTP regulations," the Sebi order states.