The Securities and Exchange Board of India has imposed the levy on these entities including the then promoters of SJ Corporation. They would be 'jointly and severally liable to pay the said monetary penalty.'
These entities have ''indulged in fraudulent and unfair trade practices by manipulating the price and traded volume of the scrip and dealt with securities in a fraudulent manner by indulging in acts which created misleading appearance of trading and also caused artificial rise in the price of the scrip", said the Sebi order dated August 26.
Besides, they have "employed deceptive scheme and engaged in acts, practices or course of business in connection with dealing in securities of companies listed on stock exchange which operated as fraud or deceit upon the investors in securities", it added.
By indulging in such activities, they have made notional profit to the tune of over Rs 132 crore.


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