sebi:AO/BS/24/2008
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Facts / Headnote
Adjudication proceedings initiated vide show cause notice no. A&E/BS/54/2006 dated November 17, 2006 disposed of on payment of settlement/consent amount of Rs. 15,00,000
Provisions invoked
- s. 11B
Regulations
- Reg. 7
- Reg. 4(2)
Parties
- Applicant
Holding
SEBI passed a consent order disposing of the adjudication proceedings initiated against the applicant vide show cause notice A&E/BS/54/2006 dated November 17, 2006, on the applicant's payment of Rs. 15,00,000 towards settlement charges without admission or denial of the charges.
Full text
Page 2 of 6 4. It also revealed that the applicant had sent SMS and e-mails regarding bearish outlook about the market in its advice to the clients on May 13, 14 and 17, 2004 and advised them not to buy till recommendation was made by the group which added to the momentum of the market fall.
Page 3 of 6 and 17, 2004 which projected a downward trend for all the scrips / Nifty Futures covered in the reports. Irregularities detected in the course of Inspection of the Applicant. 3 Large scale unauthorized distribution of terminals.
Page 4 of 6 brokerage income. Regulations, 2003 and Clause A (3) and A (4) of the Code. 9 Dealing through more than one broker and non- reporting of off-the-floor transactions to exchange. Circular No. SMD/MDP/CIR/ 043/96 dated August 5, 1996 read with Clause A (1), A (2) and A (5) of the Code. 10 Non-collection of Margins from clients.
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Source: SecMarx — sebi:AO/BS/24/2008. 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.