sebi:MO/59/IVD/2/04

SEBI · SEBI · 2002-06-21 · A K Batra, Whole Time Member

This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.

Provisions invoked

• s. 19

Regulations

• Reg. 7
• Reg. 199
• Reg. 4
• Reg. 13(2)
• Reg. 13
• Reg. 4(a)

Holding

The member was found to have violated SEBI Circular dated 14/09/1999 by executing off-the-floor (negotiated/off-market) transactions otherwise than through the trading mechanism of the exchange, as well as Regulation 4(a) and (b) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Markets) Regulations, 1995 and items 4 & 5 of Clause A of the Code of Conduct read with Regulation 7 of the Broker Regulations.

Full text

Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ 2. The findings of the inspection report were forwarded to the member vide letter dated 21.06.02 advising the member to file its comments if any, on the findings of the inspection. The member vide letter dated 12.07.02 replied to the said findings of the inspection report. On not being satisfied with the reply filed by the member an Enquiry officer was appointed vide SEBI’s order dated 08.08.2002. The allegations as per the show cause notice dated April 30, 2003 issued by Enquiry Officer are as under:

Name of the Scrip Date of transaction Sett. No Buy/Sell Quantity Price (Rs) HFCL 22/02/2001 2001147 BUY 24320 779.65 HFCL 22/02/2001 2001147 BUY 16190 782.05 HFCL 22/02/2001 2001147 BUY 10980 788.10 HFCL 22/02/2001 2001147 BUY 12340 790.20 HFCL 22/02/2001 2001147 BUY 17140 784.47 HFCL 22/02/2001 2001147 BUY 8000 791.05 HFCL 22/02/2001 2001147 BUY 11030 786.60 HFCL 16/02/2001 2001147 SELL 10000 1010.30 HFCL 16/02/2001 2001147 SELL 10000 1008.30 HFCL 16/02/2001 2001147 SELL 6900 1002.30 HFCL 16/02/2001 2001147 SELL 8400 999.20 HFCL 16/02/2001 2001147 SELL 4700 991.20 Name of the Scrip Date of transaction Sett. No Buy/Sell Quantity Price (Rs) HFCL 16/02/2001 2001147 SELL 7800 987.70 HFCL 16/02/2001 2001147 SELL 2200 981.95 HFCL 16/02/2001 2001147 SELL 16000 980.20 HFCL 16/02/2001 2001147 SELL 12000 971.95 HFCL 16/02/2001 2001147 SELL 13500 960.95 HFCL 16/02/2001 2001147 SELL 8500 960.20 GLOBTELE 22/02/2001 2001147 BUY 19870 499.90 GLOBTELE 22/02/2001 2001147 BUY 11130 500.80 GLOBTELE 22/02/2001 2001147 BUY 14000 501.30 GLOBTELE 22/02/2001 2001147 BUY 12500 502.30 GLOBTELE 22/02/2001 2001147 BUY 19000 500.20 GLOBTELE 22/02/2001 2001147 BUY 8500 504.80 GLOBTELE 16/02/2001 2001147 SELL 14400 650.30 GLOBTELE 16/02/2001 2001147 SELL 9980 648.95 GLOBTELE 16/02/2001 2001147 SELL 13090 644.90 GLOBTELE 16/02/2001 2001147 SELL 12500 646.20 GLOBTELE 16/02/2001 2001147 SELL 30 650.20 GLOBTELE 16/02/2001 2001147 SELL 22000 652.20 GLOBTELE 16/02/2001 2001147 SELL 13000 651.30 NET AMOUNT RECEI

HFCL 08/03/2001 2001149 BUY 16500 390.40 HFCL 08/03/2001 2001149 BUY 22700 389.90 HFCL 08/03/2001 2001149 BUY 14500 392.30 HFCL 08/03/2001 2001149 BUY 19400 392.90 HFCL 08/03/2001 2001149 BUY 11500 392.80 HFCL 08/03/2001 2001149 BUY 19800 394.00 HFCL 08/03/2001 2001149 BUY 20000 394.90 HFCL 08/03/2001 2001149 BUY 7200 396.20 HFCL 02/03/2001 2001149 SELL 26500 740.45 HFCL 02/03/2001 2001149 SELL 28000 740.20 HFCL 02/03/2001 2001149 SELL 25300 738.20 HFCL 02/03/2001 2001149 SELL 19850 735.20 HFCL 02/03/2001 2001149 SELL 19400 732.45 HFCL 02/03/2001 2001149 SELL 15400 731.05 HFCL 02/03/2001 2001149 SELL 25150 730.20 DSQ Soft 08/03/2001 2001149 BUY 30000 250.40 DSQ Soft 08/03/2001 2001149 BUY 27000 251.80 Name of the Scrip Date of transaction Sett. No Buy/Sell Quantity Price (Rs) DSQ Soft 08/03/2001 2001149 BUY 24000 252.30 DSQ Soft 08/03/2001 2001149 BUY 19000 253.80 DSQ Soft 08/03/2001 2001149 BUY 32000 253.90 DSQ Soft 08/03/2001 2001149 BUY 17000 254.40 DSQ Soft 08/03/2001 2001149 BUY 21000 255.30 DSQ Soft 02/03/2001 2001149 SELL 22000 361.60 DSQ Soft 02/03/2001 2001149 SELL 24400 360.10 DSQ Soft 02/03/2001 2001149 SELL 25500 360.50 DSQ Soft 02/03/2001 2001149 SELL 26000 359.10 DSQ Soft 02/03/2001 2001149 SELL 19000 358.10 DSQ Soft 02/03/2001 2001149 SELL 25000 357.35 DSQ Soft 02/03/2001 2001149 SELL 28100 356.10 GlOBTELE 08/03/2001 2001149 BUY 30000 259.90 GlOBTELE 08/03/2001 2001149 BUY 17800 261.30 GlOBTELE 08/03/2001 2001149 BUY 15400 262.10 GlOBTELE 08/03/2001 2001149 BUY

Source: SecMarx — sebi:MO/59/IVD/2/04. 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.