sebi:IVD-ID4/SPML-MPC/AO/DRK/AS/EAD3/254-09/20-2011
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Facts / Headnote
Penalty imposed
Provisions invoked
- s. 15
- s. 12
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 4(1)
Parties
- MPC Stock Broking Pvt. Ltd.
Holding
MPC Stock Broking Pvt. Ltd. was held to have violated Regulation 4(1) and 4(2)(a) & (e) of the PFUTP Regulations and Section 12 of the SEBI Act read with SEBI circular No. SMD/Policy/CIR-/98 dated January 16, 1998, and a consolidated penalty of Rs. 1,20,000 under Sections 15HA and 15HB was imposed.
Full text
Page 2 of 14 average volumes of shares traded during the period under examination were 770 shares. 3. NSE observed that on April 16, 2004 it was reported in the press that SPML had received three orders to the tune of Rs.71 crores. On NSE the price of the scrip opened at Rs.32.00/- on March 15, 2004 and touched a high of Rs.62.25/- (i.e. 92.53% rise in 22 trading days) on April 15, 2004 and closed at Rs.47.00/- (i.e. overall 46.88% rise 34 trading days) on May 03, 2004.
Page 3 of 14 SHOW CAUSE NOTICE, REPLY AND HEARING 6. A Show Cause Notice dated January 20, 2010 (hereinafter referred to as the ‘SCN’) was served on the noticee through Registered Post Acknowledgment Due (RPAD) in terms of the provision of Rule 4(1) of the Adjudication Rules, seeking reply of the noticee as to why an inquiry should not be held against it in respect of the violations alleged to have been committed by the noticee.
Page 4 of 14 be known to the noticee, HPG and Siddhartha & Co. and had introduced the noticee HPG and Siddhartha & Co. to Accord.
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Source: SecMarx — sebi:IVD-ID4/SPML-MPC/AO/DRK/AS/EAD3/254-09/20-2011. 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.