sebi:Order/SM/DD/2020-21/11134

SEBI · SEBI · 2016-09-26 · Soma Majumder, Adjudicating Officer

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

Facts / Headnote

Penalty imposed on the Noticee for violations of Section 23D of SCRA and Section 15HB of SEBI Act and related circulars

Provisions invoked

• s. 15
• s. 12
• s. 15H
• s. 15J
• s. 28A
• s. 23J
• s. 23
• s. 23D

Parties

• Rahul Chokhany

Holding

The Noticee, Rahul Chokhany, was held to have violated Section 23D of SCRA read with Clause 1 of Annexure to Transaction Regulation Circular and Clause 3 of Annexure to Enhanced Supervision Circular, Clause 12 of Annexure to SEBI Circular dated December 03, 2009 read with Clause 8.1 of Annexure to Enhanced Supervision Circular, Clause 6.1.1(j) of Annexure to Enhanced Supervision Circular, SEBI Circular dated August 10, 2011, SEBI Circular dated March 22, 2018 and Clause 2(B) of SEBI Circular dated August 02, 2011. A penalty was imposed under Section 23-I of SCRA and Section 15-I of SEBI Act r/w Rule 5 of the Adjudication Rules.

Full text

Adjudication Order in respect of Rahul Chokhany in the matter of Rahul Chokhany Page 2 of 29 “Transaction Regulation Circular’) and Clauses 3, 6.1.1(j) and 8.1 of Annexure to SEBI Circular No. SEBI/HO/MIRSD/MIRSD2/CIR/P/2016/95 dated September 26, 2016 (hereinafter referred to as “Enhanced Supervision Circular”)

Adjudication Order in respect of Rahul Chokhany in the matter of Rahul Chokhany Page 3 of 29 under Section 23D of SCRA and Section 15HB of SEBI Act for the violations alleged to have been committed by the Noticee.

Adjudication Order in respect of Rahul Chokhany in the matter of Rahul Chokhany Page 4 of 29 Sr. No. Date Total fund available in all client bank account including the settlement account Collateral deposit with clearing corporation & clearing member excluding the ledger amount Total credit balances of all the clients Value of G A B C G=(A+B)-C 24 09/03/18 284169.79 19800000.00 19712048.69 3,72,121.10 25 12/03/18 810425.60 19800000.00 17626712.20 29,83,713.40 26 13/03/18 810050.13 19800000.00 18699198.90 19,10,851.23 27 14/03/18 810050.13 19800000.00 19010936.11 15,99,114.02 28 15/03/18 1292114.37 19800000.00 20685330.92 4,06,783.45 29 16/03/18 692114.37 19800000.00 22333181.96 (18,41,067.59) 30 19/03/18 4771.26 19800000.00 22576485.91 (27,71,714.65) 31 20/03/18 1846712.26 19800000.00 21145838.27 5,00,873.99 32 21/03/18 1646712.26 19800000.00 22125660.70 (6,78,948.44) 33 22/03/18 1646712.26 19800000.00 21875291.48 (4,28,579.22) 34 23/03/18 71570.16 19800000.00 19464229.09 4,07,341.07 35 26/03/18 199829.13 19800000.00 18044892.10 19,54,937.03 36 27/03/18 1042069.90 19800000.00 19599687.93 12,42,381.97 37 28/03/18 677607.85 19800000.00 21355241.45 (8,77,633.60)

Source: SecMarx — sebi:Order/SM/DD/2020-21/11134. 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.