sebi:EAD-8/KS/VB/AO/162/2018-19
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Facts / Headnote
Penalty of Rs. 2,00,000 imposed on the Noticee under Section 15HB of the SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 15F
Regulations
- Reg. 7
- Reg. 26
Parties
- Sosha Credit Private Limited
Holding
The Noticee violated SEBI Circular No. SMD/SED/CIR/93/23321 dated November 18, 1993 and Clauses A(1), A(2) and A(5) of the Code of Conduct read with Regulation 7 of the Brokers Regulations, attracting monetary penalty under Section 15HB read with Regulations 26(xiii) and (xvi), and a penalty of Rs. 2,00,000 was imposed.
Full text
Page 2 of 12 APPOINTMENT OF ADJUDICATING OFFICER 3. SEBI appointed Shri Suresh Gupta as the Adjudicating Officer vide communique dated August 04, 2017 to inquire into and adjudge under Section 15HB of the SEBI Act, 1992 (hereinafter referred to as ‘SEBI Act’) read with Regulations 26(xiii) & 26(xvi) of the Brokers Regulations, the aforesaid violations alleged to have been committed by the Noticee. Pursuant to superannuation of Shri Suresh Gupta, the Competent Authority, vide appointment order dated April 26, 2018, appointed the undersigned as the Adjudicating Officer in the instant matter.
Page 3 of 12 debit balance. Further, the Noticee in its letter dated July 15,2014 has submitted the following “It was further observed by the inspection team that we have used client fund for meeting obligation of another clients. So, in this context, we assure you non recurrence of the above mention observation in future”
Page 4 of 12 9 BIBHUTI KUMAR SINHA [BB235] 58455.24 -2775.61 10 2013014N 22/01/13 5911646.35 PIXEL DEALCOM PRIVATE LIMITED [P300] 681963.88 56559.00 11 USHA KHEMKA [U67] 342305.33 15572.00 12 PIXEL DEALCOM PRIVATE LIMITED [P300] 681963.88 56559.00 13 2013084N 07/05/13 11729743.50 GIRIRAJ KUMAR CHANDAK [G26] 140991.28 204.20 14 SUMANT KUMAR PODDAR [S1056] 143312.32 2360.43 15 ROCK MINING PRIVATE LIMITED [R468] 9080124.21 6851581.33
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Source: SecMarx — sebi:EAD-8/KS/VB/AO/162/2018-19. 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.