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11. They further submitted that Vikas Sarda, in his statement on oath before SEBI, has admitted that Ashish Sarda used to give tips to him on the basis of which he used to carry out trades on behalf of HUF and his wife. Bank account statements revealed that there was a financial SEBI Prevention of Fraud and Unfair Trade Practices Regulations Order in appeal No. 281 of 2017 dated February 2, 2019 (2019) 5 SCC 90 Order in appeal No. 466 of 2016 dated May 15, 2019 arrangement between Ashish Sarda and Vikas Sarda, under which during the IP, Vikas Sarda used to transfer Rs. 13.8 Lakhs to Ashish Sarda on weekly basis as a consideration for sharing the information.
Answer: I do give tips to my immediate relatives and friends for trading.
6. Are you privy to the trades of Thar Share Brokers and do you share information about those trades with your father/ mother or any of the family members?
Answer: I have the ID for cash market trades. I sit across Sh Gangwal and most of the stock trades in cash and equity segment are executed by me. The CTCL terminal used by me for placing trades of behalf of entities controlled by Ajay Gangwal for cash is in the name of Navratan Parikh and F & O is in the name of Jaideep Parikh. I give tips to my father through SMS or calls. My father operates my mother's trading account as well. His broker is in Barkat Nagar. He gives orders at the broker's office.
7. Who is Vikas Sarda? Do you give tips to him as well?10
Answer: Vikas Sarda is the son of my elder paternal uncle. He lives in Makrana. I have good relations with him. I do give him tips through SMS and phone calls. I used knowledge of Sh Ajay Gangwal and informed my relatives of somewhat guaranteed profits in the scrips. I have seen that all such traces of Ajay Gangwal were profitable. I have been giving him tips since about a year. I have made a commission of about cash 27-28 lakhs, A/c 10 lakhs.
[Emphasis supplied]
16. Further, Vikas Sarda was also examined on oath by the Investigating Authority on December 8, 2023 where he has made the following critical admissions in his statement, which corroborate the contentions of Ashish Sarda:
11"6. Did you get tips from Ashish Sarda for trading in the securities market? How and when did this start?
Answer: Yes. Ashish is my cousin. He knew I was interested in share market. He offered to give me tips on the basis of which I could trade. This started in around mid of 2022.