sebi:MO/27/IVD/12/2005
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 of Pawan J Chaudhary suspended for a period of thirty days
Provisions invoked
- s. 19
Regulations
- Reg. 7
- Reg. 13(4)
- Reg. 13
- Reg. 4(a)
Parties
- M/s. Pawan J Chaudhary
Holding
The certificate of registration of Pawan J Chaudhary, Member, Registration No. INB010019411, The Stock Exchange, Mumbai, is suspended for a period of thirty days for failure to collect initial margins from clients, in violation of the Code of Conduct prescribed in Schedule II of Regulation 7 of the SEBI (Stock Brokers & sub-brokers) Regulations, 1992.
Full text
Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ ORDER AGAINST M/s. PAWAN J CHAUDHARY, MEMBER, REGISTRATION No. INB010019411, THE STOCK EXCHANGE, MUMBAI UNDER REGULATION 13(4) OF SEBI (PROCEDURE FOR HOLDING ENQUIRY BY ENQUIRY OFFICER AND IMPOSING PENALTY) REGULATIONS, 2002.
SHOW CAUSE NOTICE AND REPLY 7. Pursuant to the above, a notice dated 28.06.04 was issued to Pawan J. Chaudary asking them to show cause as to why its certificate of registration should not be suspended for a period of thirty days. Pawan had replied vide its letter dated 12.07.04 to the said show cause notice. The submissions made by Pawan in its reply are as follows: 7.1.1 I vehemently deny the allegations of the Enquiry Officer to the extent the Enquiry Officer has held me guilty of the alleged charge. Pleas that we had sufficient securities by way of margin and no separate margin was required. Thus, the allegation is not correct. 7.1.2 I have already pointed out in my earlier reply that both the said constituents were introduced to me by one Mr. Dilip N. Shah, who is known for last about 10-15 years and also has been effecting transactions with me. Both the said constituents had agreed to indulge only in d based transactions, as such the risk involved was very narrow and was restricted only to the extent of bad deliveries. Apart from t minimize the risk of bad deliveries I had obtained confirmations regarding genuineness and title of the shares introduced by the sa constituents, and only after confirmation by the company the said shares were introduced in the market. Moreover, the securities were kep us by way of margin. 7.1.3 The said two constituents had effected transactions in various scrips on large scales similar to the transacti
DATE : 26-12-2005 WHOLE TIME MEMBER SECURITIES AND EXCHANGE BOARD OF INDIA
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:MO/27/IVD/12/2005. 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.