sebi:6777
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Facts / Headnote
Restrained Libord Securities Ltd. from accessing the securities market and prohibited from buying, selling or otherwise dealing or associating with the securities market in any manner whatsoever for a period of one year
Provisions invoked
- s. 11B
- s. 11
Regulations
- Reg. 7
- Reg. 199
- Reg. 11
- Reg. 4
Parties
- Libord Securities Ltd.
Holding
SEBI restrained Libord Securities Ltd. (PAN No. AAACL0782D) from accessing the securities market in any manner for one year for facilitating its client in creating an artificial market in the scrip of Mazda Fabrics & Processors Ltd.
Full text
APPEARANCES: FOR THE NOTICEE: J.J Bhat, Advocate Lalit Dangi, Chairman, Libord Securities Ltd FOR SEBI: Mrs Barnali Mukherjee, DGM. Shri Deepesh M.U, Manager. Shri Mohamed Rahaz P. M., Legal Officer.
4. Since the registration of the Noticee was cancelled by SEBI vide order dated June 12, 2003 under SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 , no useful purpose would have been served in proceeding with the Enquiry Proceedings as the noticee was no more an intermediary and therefore the instant proceedings were initiated under section 11 & 11B of SEBI Act to inquire into the possible violations of the provisions of Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 1995 (hereinafter referred to in short as “PFUTP Regulations”) and Securities and Exchange Board of India (Stock Brokers and Sub- Brokers) Regulations, 1992 (hereinafter referred to in short as “Stock Brokers Regulations”).
The circuit filters in this scrip were revised from 25% to 10% on July 02, 1996 and again revised from 10% to 5% on July 22, 1996. BSE had suspended trading in the scrip of MFPL for one day on August 14, 1996 and then for 3 days from September 02, 1996 to September 04, 1996. Later, the said suspension was made absolute from September 09, 1996.
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Source: SecMarx — sebi:6777. 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.