sebi:EAD/KS/MKG/AO/73/2017-18
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Facts / Headnote
Show Cause Notice disposed of without imposition of any penalty
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 7
- Reg. 9(f)
- Reg. 3(a)
Parties
- B. P. Equities Pvt. Ltd.
Holding
The Adjudicating Officer held that the Noticee, B. P. Equities Pvt. Ltd., did not violate Clause A(2) of the Code of Conduct for Stock Brokers read with Regulation 7 of the Broker Regulations, 1992, and the Show Cause Notice was disposed of without imposition of any penalty.
Full text
Page 2 of 9 (01/02/2009 to 31/07/2009 (price rise) - Patch I Volume 17579 87644 2100 405393 117539 01/08/2009 to 20/03/2012 (price rise) - Patch II Price 68.5 199.4 67.25 295.15 195.87 Volume 108175 153841 7820 3945934 212971 21/03/2012 to 30/09/2012 (price fall) Price 199.45 21.45 17.6 203.45 36.76 Volume 246215 39556 1897 3475048 144592 Post- Investigation (01/10/2012 to 31/12/2012) Price 21.8 18.8 16.5 28.1 19.92 Volume 31760 102920 7749 736146 53854
Page 3 of 9 APPOINTMENT OF ADJUDICATING OFFICER 4. SEBI, vide communication order dated July 17, 2017 appointed the undersigned as Adjudicating Officer under Section 15 I of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as "SEBI Act"), read with Rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Rules’) to inquire into and adjudge under Section 15HB of SEBI Act, the alleged violation of the provisions of Clause A(2) of the Code of conduct for Stock Brokers as stipulated in schedule II read with Regulation 7 of the Broker Regulations, 1992 by Noticee.
Page 4 of 9 a. Through your captioned letter, it is alleged upon us that our actions have led to the violation of Clause A (2) of the Code of Conduct for Stock Brokers as specified under Schedule II read with Regulation 7 of the SEBI (Stock Brokers & Sub brokers) Regulation, 1992 while dealing on behalf of our client Gajanan Enterprises in Varun Industries Limited (herein after referred to as 'VIL' during the period February 1, 2009 to September 30, 2012. We are made to understand by our client that a similar letter is also issued to it based on which we had sought clarification from them and they have furnished the copy of reply being sent by them to your good office.
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Source: SecMarx — sebi:EAD/KS/MKG/AO/73/2017-18. 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.