sebi:HB/AO-01/2010
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Facts / Headnote
Penalty imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
Regulations
- Reg. 7
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 15H
Parties
- Ruchiraj Shares and Stock Brokers Pvt. Ltd.
Holding
The Noticee violated Regulations 4(1), 4(2)(a) and (e) of the PFUTP Regulations, Regulation 7 read with Clauses A(1) to A(5) of the Broker Code of Conduct and the SEBI circular on demat delivery, and was held liable to monetary penalty under Sections 15HA and 15HB of the SEBI Act.
Full text
Page 2 of 14 any other related matter for growth of the company and to consider the increase in authorized capital and issue of right/preferential shares. increased from average daily trading volume of 3685 shares to average daily trading volume of 22606 shares for remaining investigation period. 2 11.03.2005 at 04:31PM The Board meeting which was scheduled to be held on March 08, 2005 has been postponed as the directors of the company have gone out of station. The price came down from closing price Rs.113.96 on March 11, 2005 to Rs.110.75 on next trading day. There was negligible effect on the volume.
Page 3 of 14 “PFUTP”), Regulation 7 read with clauses A(1), A(2), A(3), A(4) and A(5) of Code of Conduct for Business as specified in schedule II of SEBI (Stock Brokers and Sub Brokers) Regulation, 1992 (hereinafter referred to as “Broker Regulation”) and provisions of SEBI circular no. SEBI/MRD/SE/Cir-33/2003/27/08 dated August 27, 2003 as brought out in the foregoing paragraphs, and thereby, liable for monetary penalty under section 15HA and 15HB of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as ‘SEBI Act’).
Page 4 of 14 8. The Noticee replied to the SCN vide letter dated January 5, 2010 wherein, inter-alia, it had stated the following –
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Source: SecMarx — sebi:HB/AO-01/2010. 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.