N.L. Lakhanpal, Member - The appeals were taken up for final disposal through this common order with the consent of parties.

2. The appeals have been filed against the order dated 8-3-2004 passed by the respondent, Securities and Exchange Board of India, prohibiting the appellants from buying, selling or dealing in securities for a period of one year. The order has been passed by Shri G.N. Bajpai, Chairman, SEBI, in exercise of powers conferred on him under section 4(3) read with section 11B of SEBI Act, 1992 and Regulation 11 of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 1995. The appellants have been charged with violation of regulation 4(a), (b), (c) and (d) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 1995 by colluding with the ‘Ketan Parikh group entities’ in creation of artificial market and volumes in the scrip by cornering tradable securities in the market and having thereby caused artificial shortage of shares to induce investor interest in the scrip. Regulation 4(a), (b), (c) and (d) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Rela