sebi:EAD-6/AO/PM/NK/012/2019-20
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Facts / Headnote
Violation established; penalty of Rs. 5,00,000 imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
Regulations
- Reg. 199
- Reg. 6
- Reg. 9(f)
- Reg. 17
- Reg. 26
- Reg. 9
Parties
- M/s Destiny Securities Limited
Holding
The Adjudicating Officer held that M/s Destiny Securities Limited violated SEBI Master Circular No. CIR/MRD/DRMNP/11/2013 read with NSE circular No. NSE/INSP/19583 and Clauses A(2) and A(5) of the Code of Conduct read with Regulation 9(f), and imposed a monetary penalty of Rs. 5,00,000 under Section 15HB of the SEBI Act, 1992 read with Regulations 26(xv) and (xvi).
Full text
Page 2 of 19 specified under Schedule II read with regulation 9(f) of the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992.
Page 3 of 19 Show Cause Notice, Reply and Personal Hearing 6. The Noticee was issued a show cause notice (hereinafter referred to as 'SCN') no. EAD-2/DSR/VS/02433/2018 dated January 23, 2018 under Rule 4(1) of the said Rules as to why an inquiry should not be held and penalty not be imposed under Section 15HB of the SEBI Act- 1992 read with Regulations 26 (xv) and 26 (xvi) of the SEBI (Stock Brokers and Sub-Brokers) Regulations 1992, for the alleged violation of the provisions of law.
Page 4 of 19 3 S009 Saurabh Management Pvt. Ltd. 974158 1000000 01.06.2012 08.02.2013 4 974159 3000000 14.06.2012 08.02.2013 5 974160 500000 18.06.2012 08.02.2013 6 974161 3000000 29.06.2012 08.02.2013
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Source: SecMarx — sebi:EAD-6/AO/PM/NK/012/2019-20. 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.