0072-2017 Monarch Networth Capital Limited vs Securities and Exchange Board of India
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Full text
“48. In the instant case, I find that Monarch allowed its client to execute fictitious trades through it. Out of 95,945 shares Mr. Vijay Vora bought from his wife Ms. Hina Vora (one side), Monarch acted as both Broker and counter party Broker for 5,902 shares traded between Mr. Vijay Vora and Ms. Hina Vora. Out of 59,302 shares Vijay Vora sold to Ms. Hina Vora during the investigation period, Monarch acted as both Broker and Counterparty Broker for 41,768 shares traded between Mr. Vijay Vora and Hina Vora. Thus, Monarch executed cross deals which accounted for 6% of Vijay Vora’s b
BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI
DATE : 16.01.2018 Misc. Application No. 79 of 2017 And
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