sebi:EAD-2/AO/47/2012
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Facts / Headnote
Monetary penalty of Rs. 50,000 imposed on the Noticee under Section 15HB of the SEBI Act, 1992
Provisions invoked
- s. 15
- s. 15J
Regulations
- Reg. 7
- Reg. 199
Parties
- M/s. Galaxy Broking Ltd.
Holding
The Adjudicating Officer held that M/s. Galaxy Broking Ltd. violated Regulation 7 read with Clause A (1), (2), (3), (4) and (5) of the Broker Regulations and is liable for penalty under Section 15HB of the SEBI Act, 1992. A monetary penalty of Rs. 50,000 was imposed on the Noticee.
Full text
Page 2 of 10 or the other acted in concert and manipulated the market in the scrip of PIL. The Group was the major net purchasers of the scrip during the period of investigation. The Group transferred the shares bought from the market to various beneficiary accounts through off-market transactions who in turn sold the shares in the market.
Page 3 of 10 alleged violation of the Noticee as mentioned above. Thereafter, SEBI vide order dated January 04, 2012 appointed the undersigned as the AO in the instant matter.
Page 4 of 10 as an intermediary in the stock market and thereby violated Regulation 7 read with Clause A (1), (2), (3), (4) and (5) of the Broker Regulations.
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Source: SecMarx — sebi:EAD-2/AO/47/2012. 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.