sebi:EAD-8/ORDER/KS/VB/2018-19/213
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Facts / Headnote
Penalty of Rs. 5,00,000 imposed on the Noticee under Section 15HB of the SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 15F
Regulations
- Reg. 15
- Reg. 15(1)(b)
- Reg. 26
- Reg. 15(1)
- Reg. 15(l)(b)
- Reg. 15(1)(b)(d)
Parties
- Shri Prakash Varma
Holding
The Noticee, Shri Prakash Varma, sub-broker of Ventura Securities Ltd, violated the Code of Conduct, SEBI circular and NSE circulars and Regulation 26 provisions, and is liable to a monetary penalty of Rs. 5,00,000 under Section 15HB of the SEBI Act.
Full text
Page 2 of 18 schedule II read with Regulation 15(1)(b),(d) of the Stock Broker Regulations and Regulation 26 (xv) (xvi) (xix), (xx) of Stock Brokers Regulations NSE Circular no. NSEIL/LEGAL/3534 dated August 02, 2002; NSE/MEM/3589 dated September 05, 2002; and NSE/MEM/3820dated December 24, 2002 and Clauses A(1) & A(2) of the code of conduct for sub-brokers as stipulated in schedule II read with Regulation 15(1)(b),(d) of the Stock Broker Regulations and Regulation 26 (xv) (xvi) (xix), (xx) of Stock Brokers Regulations Clause A(1) and A(2) of the code of conduct for stock brokers as stipulated in schedule II read with Regulation 15(1)(b) of the Stock Brokers Regulations and Regulation 26 (xv) (xvi) (xix), (xx) of Stock Brokers Regulations APPOINTMENT OF ADJUDICATING OFFICER
Page 3 of 18 a) it was observed that the Noticee obtained trading terminals (BSE-Cash)with the persons mentioned in table below as users who were not working with the Noticee and the said terminals were operated by the other employees of the Noticee. The details are as mentioned at table below: S. No Name of the user Terminal No.(Locat ion id) Status of the employee Executed trades using the Trading terminal
Page 4 of 18 S. No. Name of the user Terminal No. (Location id) Executed trades using the Trading terminal From To 8. Mohammad Kunhi, Butibori 4411080550001088
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Source: SecMarx — sebi:EAD-8/ORDER/KS/VB/2018-19/213. 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.