sebi:PG/AO-44/2010
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Allegations of violation of regulations 4(1), 4(2)(a), (b), (e), (g) and (n) of PFUTP Regulations and Clauses a(1), a(2), a(3), a(4) and a(5) of Code of Conduct for brokers under Schedule II of regulation 7 of Brokers Regulations found established; quantum of penalty to be determined under sections 15HA and 15HB of SEBI Act
Provisions invoked
- s. 15
- s. 15J
Regulations
- Reg. 7
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 4(a)
- Reg. 4(2)(a)
- Reg. 4(2)(e)
- Reg. 4(2)(g)
- Reg. 4(2)(b)
- Reg. 4(2)(n)
Parties
- Mr. Adolf Pinto (Proprietor of M/s Adolf Pinto)
Holding
The Noticee, Mr. Adolf Pinto, was found to have violated regulations 4(1), 4(2)(a), (b), (e), (g) and (n) of the PFUTP Regulations and Clauses a(1) through a(5) of the Code of Conduct for Stock Brokers specified in Schedule II under regulation 7 of the Brokers Regulations, by indulging in synchronized circular/reversal trading in the scrips of MSL and BSEL.
Full text
Page 2 of 36 BSEL was from December 1, 2003 to March 31, 2004. The period from December 1, 2003 to February 27, 2004 was taken as the period for investigation in the scrip of MSL.
Page 3 of 36 5. The Noticee, Mr. Adolf Pinto (Proprietor of M/s Adolf Pinto), is a broker of BSE and has SEBI Registration No. INB010001810. His office is located at 922B, P.J. Towers, Dalal Street, Fort, Mumbai-
Page 4 of 36 is noticed that I have not traded at the opening bell or a few minutes of the opening bell but after substantial volume have taken place, any manipulations trade is simply is not possible. It is a mere figment of imagination. Even, if there is a co-relation, it is a mere coincidence, hence the allegation of synchronized trading is uncalled for.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:PG/AO-44/2010. 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.