sebi:NP/JS/AO/18/2017
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
SCN disposed of - no violation found, no penalty imposed
Provisions invoked
- s. 15H
Regulations
- Reg. 3
- Reg. 6
- Reg. 4(1)
- Reg. 4(2)
- Reg. 9
Parties
- Edelweiss Securities Ltd
Holding
The Adjudicating Officer held that Edelweiss Securities Ltd had not executed an unauthorized trade on behalf of Gajria on July 26, 2012 in Parsvanath Developers at NSE. The SCN dated February 26, 2016 was disposed of accordingly with no penalty.
Full text
Page 2 of 9 Jayna Precision Industries Limited (Gajria, hereinafter), having PAN AABCG5915, was among the top selling client on NSE. Gajria, being the client of Edelweiss Securities Ltd, (hereinafter referred to as the noticee) sold 1,58,557 shares of Parsvanath on NSE on July 26, 2012 which constituted 29.29% of trading volume on NSE on that day.
Page 3 of 9 dated December 14, 2015, the undersigned was appointed as Adjudicating officer to adjudge the matter. SHOW CAUSE NOTICE (SCN), REPLY AND PERSONAL HEARING
Page 4 of 9 Director w.e.f. October 04, 2006 and there is no other person with the name Amit Kumar appointed as director on the said entity since the date of incorporation till date.
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Source: SecMarx — sebi:NP/JS/AO/18/2017. 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.