SEBI adjudication order imposes penalties on 11 connected individuals for manipulating Veer Global Infraconstruction Ltd's share price and volume.
Noticees created artificial trading through synchronized trades, first trades, and LTP manipulation across four investigation periods from March 2021 to September 2022.
The group contributed significantly to positive LTP (up to 44.35%) and executed trades among themselves to create misleading market appearance.
Total unlawful profit of ₹10.15 lakh was identified, with penalties ranging up to ₹20 lakh jointly for key manipulators.