sebi:MO/147/IVD/01/06
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Certificate of registration suspended for a period of one month
Provisions invoked
- s. 19
Regulations
- Reg. 7
- Reg. 4
- Reg. 13(4)
Parties
- M/s Joindre Capital Services Limited
Holding
The certificate of registration of M/s Joindre Capital Services Limited was suspended for one month for failure to collect margins and for aiding and abetting client manipulation in the scrip of SIL in violation of the Broker Code of Conduct and PFUTP Regulations.
Full text
Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ ORDER UNDER REGULATION 13(4) OF SEBI (PROCEDURE FOR HOLDING ENQUIRY BY ENQUIRY OFFICER AND IMPOSING
21 4,000 4,000 8,000 - 21 1,000 - 1,000 1,000 22 5,900 5,900 11,800 - 24 500 500 1,000 - Total 22,400 21,400 43,800 1,000 ENQUIRY REPORT AND RECOMMENDATION: SHOW-CAUSE NOTICE: ISSUES FOR CONSIDERATION:
“A. General (1) ……………… (2) Exercise of due skill and care: A stock-broker shall act with due skill, care and diligence in the conduct of all his business. (3) Manipulation: A stock-broker shall not indulge in manipulative, fraudulent or deceptive transactions or schemes or spread rumour to distorting market equilibrium or making personal gains. (4) Malpractices: A stock-broker shall not create false market either singly or in concert with others or indulge in any act detrim investor’s interest or which leads to interference with the fair and smooth functioning of the market. A stock-broker shall not invo excessive speculative business in the market beyond reasonable levels not commensurate with his financial soundness. (5) ……………………..”. “4. Prohibition against market manipulation. – No person shall – (a) effect, take part in, or enter into, either directly or indirectly, transactions in securities, with the intention of artificially raising or depress prices of securities and thereby inducting the sale or purchase of securities by any person; (b) indulge in any act, which is calculated to create a false or misleading appearance of trading on the securities market; (c)………….. (d)………….. (e)…………..”
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Source: SecMarx — sebi:MO/147/IVD/01/06. 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.