sebi:10494
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Facts / Headnote
Certificate of registration bearing No. INB010028216 granted to Shrikant G Mantri suspended for a period of 12 months from 14.7.03
Provisions invoked
- s. 4(3)
- s. 370
Regulations
- Reg. 7
- Reg. 199
- Reg. 13(2)
- Reg. 6
- Reg. 13
- Reg. 13(4)
Parties
- Shrikant G Mantri
Holding
The Chairman held that Shrikant G Mantri violated the Code of Conduct and the FUTP Regulations by executing non-arbitrage trades beyond mandate, acting in concert, delaying payments, and issuing fictitious contract notes, and suspended his certificate of registration No. INB010028216 for 12 months from 14.7.03.
Full text
Order under section 4 (3) of the Securities and Exchange Board of India Act, 1992 read with Regulation 13 (4) of the SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing
the Board of Directors of NBL in its meeting held on 26.6.1999 took the following decisions : To allow purchase and sale of shares in various markets and stock exchanges. To vest to Chairman and General Manager (P&D), powers to the extent of Rs.5.00 crore and Rs.2.00 crore respectively to purchase and sell shares to the stock brokers namely Harvest Deal Securities Ltd., First Custodian (I) Ltd, the said broker and other recognized brokers and pay brokerage. To permit Chairman to ratify loss, if any, in any transactions upto a maximum of 5% of the price. To permit the bank to open DP accounts with Standard Chartered Bank and Global Trust Bank, Mumbai. Even prior to the aforesaid decision of the Board of NBL, the bank had allowed the said three stock brokers to undertake the following transactions: Date Purchase in Rs. Sales in Rs. Gross Income in Rs. 2. 1. 2. 3. 4. 3.
14.09.99 1,90,17,389 1,92,03,740 1,86,351 20.9.99 4,45,15,443 4,48,51,270 3,35,827 21.9.99 2,15,67,8665 2,17,94,508 2,26,643 As per the decision taken by the Board of NBL in its meeting held on 26.6.1999, the following reporting system was decided to be followed in respect of the arbitrage transactions: Sr.No. Particulars By whom To whom Periodicity
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Source: SecMarx — sebi:10494. 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.