sebi:MO/73/MIRSD/03/04

SEBI · SEBI · 2001-09-27 · 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.

Facts / Headnote

Certificate of registration No. INB100950215 suspended for 4 months

Provisions invoked

• s. 19
• s. 12(1)
• s. 11B
• s. 12
• s. 11
• s. 16(1)
• s. 600

Regulations

• Reg. 4
• Reg. 7
• Reg. 13(4)
• Reg. 13
• Reg. 3
• Reg. 6
• Reg. 25
• Reg. 1

Parties

• Anil Kumar Aggarwal

Holding

The certificate of registration of Anil Kumar Aggarwal (INB100950215) was suspended for 4 months for multiple violations including acting as an unregistered sub-broker, failure to maintain client registration forms and broker-client agreements, failure to report off-the-floor transactions, failure to segregate client and broker accounts, indulging in prohibited carry-forward transactions, and delay in making payments to clients.

Full text

Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ Order against Anil Kumar Aggarwal Mar 22, 2004 | Orders : Orders of Chairman/Members MO/73/MIRSD/03/04 SECURITIES AND EXCHANGE BOARD OF INDIA

3.0 Show Cause Notice and Personal hearing 3.1 Show cause notice dated 10.7.2003 was issued to the said broker under Regulation 13 (2) of the SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 (hereinafter referred to as "Enquiry Regulations"). Thereafter, upon his request, a Hindi translation of the said notice was also sent to the said broker on 12.9.2003. However, the said broker did not submit any reply to the same; instead, vide letter dated 17.10.2003, the said broker requested for a personal hearing in the second week of November, 2003. The same was granted to him on 12.11.2003, but again the said broker failed to appear before me and make submissions. In view of the above, I am of the opinion that sufficient opportunity has been granted to the said broker and the requirements of natural justice have been complied with and therefore I proceed further in the matter based on the material placed before me. 4.1.Whether there were irregularities in the contract notes issued by the said broker and whether such irregularities constituted violation of the Broker Regulations 4.0.Consideration of issues

4.4.Whether the said broker failed to maintain Client Registration Forms. 4.5.Whether the said broker has indulged in off-the-floor transactions and failed to report them to the stock exchange

Source: SecMarx — sebi:MO/73/MIRSD/03/04. 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.