sebi:11382

SEBI · SEBI · G A K Batra, Whole Time Member

This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.

Facts / Headnote

Penalty imposed: suspension of certificate of registration for one month

Provisions invoked

• s. 24
• s. 19

Regulations

• Reg. 13
• Reg. 15
• Reg. 6
• Reg. 7

Parties

• M/S MS Consultancy (M S Consultancy Services), sub-broker to M/s Acme Shares and Stocks Pvt. Ltd., member, BSE

Holding

SEBI's Whole Time Member held M S Consultancy (MSC), a registered sub-broker, guilty of violating the Code of Conduct under Schedule II read with regulations 7 and 15 of the Broker Regulations and the FUTP Regulations, 1995, for repeatedly and deliberately failing to respond to summons and notices issued by the investigating authority and the Enquiry Officer, and imposed a minor penalty of suspension of its certificate of registration for one month.

Full text

AGAINST M/S MS CONSULTANCY, SUB-BROKER TO M/S ACME SHARES AND STOCKS PVT. LTD., MEMBER, BSE, IN THE MATTER OF SAWACA FINANCE LTD.

Settlement no Purchases Sales Gross Net 35 200 200 400 0 36 2500 27700 30200 -25200 37 14700 18000 32700 -3300 40 0 500 500 -500 Total 17400 46400 63800 -29000

7. As required under regulation 6 of Securities and Exchange Board of India (Procedure for holding Enquiry by Enquiry Officer and imposing penalty) Regulations, 2002 (hereinafter referred to as “the Regulations”), the Enquiry Officer issued a show cause notice to MSC dated 9th December 2003, advising them to show cause as to why action should not initiated for violation of FUTP Regulations and Code of Conduct of Broker Regulations. MSC did not respond to the said show cause notice.

Source: SecMarx — sebi:11382. 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.