sebi:IVD-ID7/AL-NC/AO/DRK-AKS/EAD3-396/62-2013
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 3
Parties
- Shri Nitin Chadha
Holding
The noticee, Shri Nitin Chadha, was held to have violated Regulations 3(a), (b), (c), (d) and 4(1), (2), (a) and (g) of the PFUTP Regulations, 2003 by executing self trades in a scrip, and a penalty of Rs. 75,000 was imposed under Section 15HA of the SEBI Act.
Full text
Page 2 of 8 APPOINTMENT OF ADJUDICATING OFFICER 2. I was appointed as the Adjudicating Officer and the same was communicated vide proceedings of the Whole Time Member appointing Adjudicating Officer dated 10.04.2013 under Section 15 I of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as ‘SEBI Act’), read with Rule 3 of Securities and Exchange Board of India (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Adjudication Rules’) to inquire into and adjudge under Section 15 HA of the SEBI Act the violation of Regulations 3 (a), (b), (c), (d), 4 (1), (2), (a) and (g) of PFUTP Regulations alleged to have been committed by Shri Nitin Chadha (hereinafter referred to as ‘noticee’).
Page 3 of 8 industry etc. Moreover they are coming with a chain of retail outlets which will sell raw and pre cooked chicken. In view of the above, he traded in the share. He incurred loss in the said scrip. The self trades could be a mistake committed by the dealer.
Page 4 of 8 whether the noticee had executed self trades while trading in the scrip at NSE. 9. Self trades are trades in which both the buyer and the seller are the same entity resulting in no change in beneficial ownership. It is observed from the investigation report (herein after referred to as ‘IR’) that the noticee had executed 29 self trades on 2 days for 3,028 shares. On 05.09.2008 the noticee had executed 24 self trades for 1,456 shares. It is observed from the
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:IVD-ID7/AL-NC/AO/DRK-AKS/EAD3-396/62-2013. 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.