New Delhi, Feb 9 (PTI) Capital markets regulator Sebi on Tuesday slapped a total fine of Rs 80 lakh on three entities for indulging in fraudulent trading activities in the shares of Urja Global Ltd.

A total of Rs 50 lakh fine has been imposed on Chetan Dogra. Besides, Rs 20 lakh and 10 lakh fines have been levied on Chetan Dogra HUF and Daffodil Tradex Pvt Ltd, respectively.

The Securities and Exchange Board of India (Sebi) had conducted an investigation in the scrip of Urja Global Ltd (UGL) for the October 1, 2010-March 21, 2011, period.

During the probe, Sebi observed that the entities indulged in self trades and had created artificial volume in the scrip of UGL.

It was found that Chetan Dogra and Chetan Dogra HUF executed self, synchronised and reversal trades and had created volume in the company's scrip, which is in violation of the PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) norms.

Also, Chetan Dogra failed to submit the information or documents sought by Investigating Authority (IA) vide summons dated July 14, 2014 which hampered the investigation of Sebi, the regulator said.

In three separate orders, the regulator imposed a fine of Rs 1 lakh each on Blue Heavens Agro Industries Ltd, Ambuja Flour Mills Ltd and Ambuja Electro Castings Ltd for their failure to obtain SCORES authentication and non-redressal of investor grievances.

Separately, the regulator levied a fine of Rs 5 lakh on Ganesh Anant Ghadge for its failure to comply with the summons issued by Sebi with respect to the off-market transactions entered into by him, in the shares of Kanchan International Ltd.

In an another order, an individual, Drishti Makhija, settled with Sebi a case of alleged fraudulent trading in illiquid stock options segment on the BSE by paying Rs 33.32 lakh towards settlement charges. HRS hrs

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