sebi:EAD-12/AO/SM/139/2017-18
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Facts / Headnote
Penalty of Rs. 8,00,000 imposed under Section 15HB of SEBI Act, 1992
Provisions invoked
- s. 15
- s. 15H
Regulations
- Reg. 9(f)
- Reg. 21(1)
- Reg. 26
- Reg. 9
Parties
- Swastika Investmart Limited
Holding
The Noticee violated Clause 12(d) & (e) of SEBI Circular No. MIRSD/SE/Cir-19/2009 dated 03.12.2009 and Clauses A(2) & (5) of the Code of Conduct for stock brokers, and a monetary penalty of Rs. 8,00,000 under Section 15HB of the SEBI Act, 1992 was imposed.
Full text
In the matter of Swastika Investmart Limited Page 2 of 19 between stock brokers (including trading members) and their clients’, Regulation 21(1) of the SEBI (Stock Brokers and Sub Brokers) Regulations, 1992 (hereinafter referred to as the Broker Regulations) and Clause A(2) and A(5) of the code of conduct as prescribed in Schedule II read with Regulation 9(f) and Regulation 26(iii), 26(xv), 26(xvi) and 26(xx) of the Broker Regulations.
In the matter of Swastika Investmart Limited Page 3 of 19 8. It was observed that as no statements were produced by the Noticee, no proof of having sent the statements to these clients could be verified. The Noticee submitted logs of emails sent for certain other clients for quarter ending March
In the matter of Swastika Investmart Limited Page 4 of 19 Sr. No . Client Code Client Name Quarter Settlemen t Chosen Date of Running of Settlement software Date of Sending Statement of Funds/Securities Delay in sending Statement s 1 AA9 Services Private Limited Apr jun 12 Quarterly 30/06/2012 08/08/2012 39 2 BJB1010 Veekay Securities Private Limited Apr jun 12 Quarterly 30/06/2012 08/08/2012 39 3 88 Punit Pavankumar Apr jun 12 Quarterly 30/06/2012 08/08/2012 39 4 MU03 Ananth Vasudev Apr jun 12 Quarterly 30/06/2012 08/08/2012 39 5 MB600 Shamji Nanji Vaviya Patel Huf Apr jun 12 Quarterly 30/06/2012 08/08/2012 39 6 1000 Swastika Commodities Pvt Ltd Jul Sept 2012 Quarterly 30/09/2012 06/12/2012 67 7 V405 Uss Reality Pvt. Ltd Jul Sept 2012 Quarterly 30/09/2012 06/12/2012 67 8 25 Shanta Bangur Jul Sept 2012 Quarterly 30/09/2012 06/12/2012 67 9 MB7002 Ajay Mohanlal Jul Sept 2012 Quarterly 30/09/2012 06/12/2012 67 10 MB600 Shamji Nanji Vaviya Patel Huf Jul Sept 2012 Quarterly 30/09/2012 06/12/2012 67 11 BPPU000 6 Pramila Pramod Oct dee 12 Quarterly 31/12/2012 24/01/2013 24 12 BJB1010 Veekay Securities Private Limited Oct dee 12 Quarterly 31/12/2012 24/01/2013 24 13 V405 Uss Reality Pvt. Lto Oct dee 12 Quarterly 31/12/2012 24/01/2013 24 14 BPPU300 3 Parvati Utiam Oct dee 12 Quarterly 31/12/2012 24/01/2013 24 15 GA2078 Gaurav Jitendrakumar Shah Oct dee 12 Quarterly 31/12/2012 24/01/2013 24 16 PU6001 Rajendra Kailashrao Shingare Jan Mar 13 Quarterly 31/03/2013 15/05/2013 45 17 MB7002 A
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Source: SecMarx — sebi:EAD-12/AO/SM/139/2017-18. 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.