sebi:IVD-ID5/ESL-JV/AO/DRK/ASG/EAD3-291/57-2011
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Facts / Headnote
Violation found; penalty of Rs. 1,00,000 imposed under Section 15HA of SEBI Act, 1992
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- Ms. Jigisha Vadodaria
Holding
The noticee Ms. Jigisha Vadodaria violated Regulations 3(a), 3(b) and 4(1) of the SEBI (PFUTP) Regulations, 2003 by applying in the IPO of ESL through her stock broker TSSPL in the broker's own name, and a penalty of Rs. 1,00,000 under Section 15HA of the SEBI Act, 1992 was imposed.
Full text
Page 2 of 11 detailed investigation. The Investigation Report (hereinafter referred to as ‘IR’) concluded that certain entities had violated SEBI Act/ Rules/ regulations while dealing in the IPO of ESL. In this regard, it was noted from the findings of the IR that Transparent Shares and Securities Pvt. Ltd. (hereinafter referred to as ‘TSSPL’) which is a SEBI registered stock broker having membership with BSE and NSE, had applied in the IPO of ESL in its own name on behalf of its clients including the noticee. TSSPL had informed that it had applied for 1,60,000 shares in its own name in the IPO of ESL on behalf of four clients as follows: • Jigisha Vadodaria
Page 3 of 11 HDAD in terms of the provisions of Rule 4(1) of the Adjudicating Rules, seeking reply of the noticee as to why an inquiry should not be held against the noticee in respect of the violations alleged to have been committed by the noticee.
Page 4 of 11 viii. She thought she would get only 8000 shares as the issue was oversubscribed and told her broker to give the rest of the shares to someone else if they got it. ix. She does not wish to get involved in any hassles as she had bought the shares for only listing gains. x. She never had the intention to violate any regulations.
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Source: SecMarx — sebi:IVD-ID5/ESL-JV/AO/DRK/ASG/EAD3-291/57-2011. 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.