sebi:CO/208/ISD/03/2004
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Provisions invoked
- s. 4(3)
- s. 10
- s. 11
- s. 13
- s. 12
- s. 15
- s. 14
- s. 200
Regulations
- Reg. 7
- Reg. 4
- Reg. 199
- Reg. 13
- Reg. 4(a)
- Reg. 4(b)
- Reg. 10
- Reg. 4(c)
- Reg. 28(7)
- Reg. 26(1)
- Reg. 6
- Reg. 5(d)
- Reg. 25(b)
Parties
- N.H. Securities Ltd.
- Classic Shares and Stock Broking Services Ltd.
- Triumph Securities Ltd.
- Triumph International Finance Ltd.
- V N Parekh Securities Ltd.
- KNP Securities Ltd.
Holding
The order finds that the six broking entities are 'broking entities of Ketan Parekh' (KP) by virtue of KP being shareholder/director, common correspondent/representative and similar addresses, and proceeds to examine whether they indulged in market manipulation in scrips including Global Trust Bank (GTB). The final disposition and penalty imposed are not stated in the extracted text.
Full text
2 Securities Ltd.(VNP) and M/s KNP Securities Ltd. (KNP) are hereinafter collectively referred to as ‘broking entities of KP’. Subsequently, an opportunity of post-decisional hearing was granted to the broking entities of KP on April 18, 2001. Pursuant to the same, a detailed order was passed on June 21, 2001, whereby the earlier orders dated April 04, 2001 and April 19, 2001 were confirmed. Simultaneously, an enquiry officer was also appointed against all the ‘broking entities of KP’ for conducting enquiry into their alleged violations of SEBI Act and the Regulations made thereunder.
3 e) Bye-laws 247A of BSE in respect of regulation of transactions between clients and brokers. f) Bye-laws 356(i),357(i) and (ii) of BSE.
4 2.3 In continuation of the show cause notice dated 13th August, 2001 and 3rd October, 2001, another show cause notice dated 25th October, 2001(hereinafter referred to as ‘3rd SCN’) was served on Triumph Securities Ltd. (TSL) and TIFL in respect of certain complaints.
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Source: SecMarx — sebi:CO/208/ISD/03/2004. 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.