sebi:EAD-2/DSR/VVK/121/2014
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violation found; penalty of Rs.10,00,000 imposed
Provisions invoked
- s. 15
- s. 15H
Regulations
- Reg. 7
Parties
- MTL Share and Stock Brokers Ltd. (presently known as Master Capital Services Ltd.)
Holding
The Adjudicating Officer held that MTL Share and Stock Brokers Ltd. violated Regulation 7 read with Clauses A(1) to A(5) of the Code of Conduct by failing to exercise due skill, care and diligence in executing 29 self trades for client Dhirajlal V Sanghvi, and imposed a monetary penalty of Rs.10,00,000 under Section 15HB of the SEBI Act, 1992.
Full text
Page 2 of 10 thereby failed to exercise due care and diligence. It is, therefore, alleged to have violated Regulation 7 read with Clause A(1),(2),(3),(4) and (5) of the Code of Conduct specified under Schedule II of the SEBI ( Stock Brokers and Sub- Brokers ) Regulations, 1992 ( hereinafter referred to as the "Stock Brokers Regulations" ). Appointment of Adjudicating Officer
Page 3 of 10 5. The noticee vide its various letters dated 30th May,2013, 14th June,2013, 27th June,2013 sought further time to file their reply. The noticee vide their preliminary
Page 4 of 10 7. Accordingly, an opportunity of inspection of documents was granted on 16th January,2014 and on 3rd February,2014 which was availed by the noticee through its AR.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:EAD-2/DSR/VVK/121/2014. 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.