Authority: Sudeep Mishra, Adjudicating Officer, Securities and Exchange Board of India (SEBI)

Order Date: April 27, 2026

Case Overview

This document is a corrigendum issued by SEBI's Adjudicating Officer to correct inadvertent errors in a previously passed Adjudication Order (Ref. No. Order/SM/RG/2026-27/32369-32379). The original order was in the matter of trading activities of certain entities in the scrip of Veer Global Infraconstruction Limited. The corrigendum specifically addresses errors in the reporting of synchronized trade data from different analysis periods (patches).

The principal correction concerns paragraphs 31.2 and 32.2 of the original order. Paragraph 31.2, which previously referenced synchronized trades of 'Patch 1', is corrected to reflect the data for 'Patch 2'. The corrected data for Patch 2 shows one synchronized trade between Mrs. Bhavana Sahay (buyer) and Mr. Ranjan Sahay (seller) involving 1,000 shares. This single trade had a net Last Traded Price (LTP) difference of -Rs. 17.90, occurred on 1 day, and accounted for 0.64% of the market volume.

Paragraph 32.2, which previously referenced synchronized trades of 'Patch 2', is corrected to reflect the data for 'Patch 3'. The corrected data for Patch 3 is more extensive, detailing 15 synchronized trades totaling 15,000 shares among four entities over 11 days. The trades involved Mrs. Bhavana Sahay, Mr. Ranjan Sahay, Mrs. Rita Kumar, and Mrs. Shahnaj Khatoon. These trades collectively contributed 3.89% to the market volume and resulted in a net LTP difference of Rs. 13.15. The breakdown of these trades is as follows:

  • 2 trades between Mrs. Bhavana Sahay (buyer) and Mrs. Rita Kumar (seller) for 2,000 shares (LTP Diff: Rs. 0.00, 0.52% market volume).
  • 2 trades between Mr. Ranjan Sahay (buyer) and Mrs. Bhavana Sahay (seller) for 2,000 shares (LTP Diff: -Rs. 5.05, 0.52% market volume).
  • 4 trades between Mrs. Shahnaj Khatoon (buyer) and Mrs. Rita Kumar (seller) for 4,000 shares (LTP Diff: Rs. 13.70, 1.04% market volume).
  • 4 trades between Mrs. Rita Kumar (buyer) and Mrs. Bhavana Sahay (seller) for 4,000 shares (LTP Diff: -Rs. 12.45, 1.04% market volume).

A total row shows an aggregate of 15 trades for 15,000 shares (LTP Diff: Rs. 13.15, 3.89% market volume).

Final Outcome

The Adjudicating Officer directed that the original order must always be read alongside this corrigendum. All other contents, findings, conclusions, and any penalties imposed in the original adjudication order remain unchanged. A copy of the corrigendum was to be served upon the noticee(s) and SEBI.

Topics: SEBI Enforcement, Synchronized Trading, Market Manipulation