sebi:BS/AO-45/2008
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Facts / Headnote
Violation found; consolidated penalty of Rs. 6,00,000 imposed on the noticee stock broker
Provisions invoked
- s. 15
- s. 15J
- s. 15H
Regulations
- Reg. 7
- Reg. 3
- Reg. 4(1)
Parties
- KNC Shares & Securities Private Limited
Holding
KNC Shares & Securities Private Limited violated Regulation 4(1) & 4(2)(a), (b), (e) and (g) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003 and Clauses A(1)-(5) of the Code of Conduct for Stock Brokers by manipulating the scrip of SOFTBPO Global Services Limited, and a penalty of Rs. 5,00,000 under Section 15HA and Rs. 1,00,000 under Section 15HB was imposed.
Full text
2 the same, BSE conducted a full fledged investigation for the period of May 14, 2004 to March 29, 2005 and submitted its report to SEBI for further examination.
3 request, the hearing was adjourned to June 24, 2008. The noticee, vide letter dated June 17, 2008 again sought for further adjournment of hearing from June 24, 2008 to June 30, 2008. Considering the request, the hearing was adjourned to June 30, 2008. Mr. Hemant V Shah and Mr. Dewang K Choksi, directors of noticee attended the hearing on June 30, 2008 and made the submissions. Subsequently, the noticee made additional submissions vide its letter dated July 2, 2008. CONSIDERATION OF ISSUES
4 (g) entering into a transaction in securities without intention of performing it or without intention of change of ownership of such security;
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Source: SecMarx — sebi:BS/AO-45/2008. 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.