0192-2011 Shri Kamlesh R Shah vs Whole Time Member Securities and Exchange Board of India
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Full text
“No stock-broker or sub-broker shall buy, sell, deal in securities, unless he holds a certificate granted by the Board under the Regulations: Provided that such person may continue to buy, sell or deal in securities if he has made an application for such registration till the disposal of such application.” It is the case of the appellant that he had applied to the Board for registration as a sub-broker on the NSE on December 12, 2002 and his application was pending in the year 2004 when he executed the trades on NSE. His argument is that the proviso to Rule 3 which was then in f
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
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Source: SecMarx — 0192-2011 Shri Kamlesh R Shah vs Whole Time Member Securities and Exchange Board of India. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.