sebi:IVD-ID4/RNJ-AIL/AO/DRK/AKS/EAD-3/326/24-12
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Facts / Headnote
Consolidated penalty imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 4
- Reg. 15
Parties
- M/s Rajesh N Jhaveri
Holding
The Adjudicating Officer held that M/s Rajesh N Jhaveri violated Regulations 4(1) and 4(2)(e) of the PFUTP Regulations and Clauses A(1), A(2), D(1), D(4), D(5) of the Code of Conduct for Sub Brokers and imposed a consolidated penalty of Rs 3,50,000 under Sections 15HA and 15HB of the SEBI Act.
Full text
Page 2 of 13 (Clg.No.513) and Grishma Securities (P) Ltd. (Clg.No.147) had major concentration of 46.12%, 18.73% and 14.97% in gross purchase respectively and 53.35%, 15.92% and 22.69% in net purchase respectively.
Page 3 of 13 Due” in terms of the provisions of Rule 4 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 requiring the noticee to show cause as to why an inquiry should not be held against the noticee and why penalty, if any, should not be imposed on the noticee under Sections 15HA and 15HB of the SEBI Act for the violation of Regulations 4 (1) and 4 (2) (e) of PFUTP Regulations and Clauses A(1), A(2), D(1), D(4), D(5) of Sub Brokers Regulations. Proof of service of SCN is on record.
Page 4 of 13 heart by-pass surgery and was advised bed rest, therefore, the noticee needs additional time. Hearing notices dated 03.02.2011 and 07.03.2011 were served on the noticee granting further opportunities of hearing but the noticee failed to attend the hearings without providing any reasons. Proof of service is on record.
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Source: SecMarx — sebi:IVD-ID4/RNJ-AIL/AO/DRK/AKS/EAD-3/326/24-12. 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.