sebi:MO/72/IVD/08/04
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Facts / Headnote
Minor penalty of warning imposed on the broker
Provisions invoked
- s. 19
Regulations
- Reg. 7
- Reg. 6
- Reg. 13
- Reg. 5
Parties
- M/s. Argus Stockbroking Ltd
Holding
SEBI held M/s. Argus Stockbroking Ltd violated Clause A (2) to (5) of the Code of Conduct and imposed a minor penalty of warning, directing greater diligence in future.
Full text
Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ Order Against Argus Stockbroking Ltd Aug 31, 2004 | Orders : Orders of Chairman/Members MO/72/IVD/08/04 SECURITIES AND EXCHANGE BOARD OF INDIA
10. With regard to trading in the scrip of VWL, the said broker further submitted that its sub-broker had purchased and sold shares wherein the first transaction was at Rs. 8.15 on 25.04.01 (when the last traded price was Rs. 9.55 on 12.04.01). The last transaction of the sub-broker was on 11.06.01 at Rs.11.09/10.91. Further, the sub-broker sold 100 shares at Rs. 46.30 on 11.07.01 on spot basis, at the prevailing market price of Rs. 43.05. The said broker submitted that apart from these transactions by their sub-broker, they were not concerned with the movement of low and high prices in the scrip of VWL.
Date: August 31, 2004 WHOLE TIME MEMBER Place:MUMBAI SECURITIES AND EXCHANGE BOARD OF INDIA
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Source: SecMarx — sebi:MO/72/IVD/08/04. 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.