sebi:PG/AO-72/2010
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Facts / Headnote
Penalty imposed on the Noticee for violation of PFUTP Regulations and Code of Conduct for Stock Brokers
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
Regulations
- Reg. 7
- Reg. 3
- Reg. 4(1)
Parties
- Parklight Investment Pvt. Ltd.
Holding
The Noticee (Parklight Investment Pvt. Ltd.) was found to have violated regulation 4(1) and 4(2)(a) of PFUTP Regulations and Clauses A(1), A(3), A(4) and A(5) of the Code of Conduct for Stock Brokers, and a total penalty of Rs. 3,50,000 was imposed (Rs. 1,50,000 under section 15HA and Rs. 2,00,000 under section 15HB of the SEBI Act).
Full text
Page 2 of 22 3. As per information available on the BSE website, the paid up capital of AIL as on June 30, 2003 and December 31, 2003 was Rs. 25 crores divided into 25,00,00,000 shares of Rs 1/- each. This information is available in public domain. Satish Panchariya, Arun Panchariya, Ramswaroop B Panchariya & Ashok R Panchariya are the promoters and Kailashben J Patel & Durgaram Dudi are the Persons Acting in Concert (PACs) of AIL.
Page 3 of 22 7. The entities involved in the said alleged manipulation are as under: S. No Abbreviation Names Category 1.
Page 4 of 22 9. The findings of the investigation led to the allegation that the Noticee had violated regulation 4(1) and 4(2)(a) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Markets) Regulations, 2003 (hereinafter referred to as “PFUTP Regulations”) and clauses A(1), A(2), A(3), A(4) and A(5) of Code of Conduct for Stock Brokers as specified in Schedule II read with regulation 7 of SEBI (Stock Brokers and Sub Brokers) Regulations, 1992 (hereinafter referred to as “Brokers Regulations”) and was therefore liable for monetary penalty under sections 15HA and 15HB of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act”).
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Source: SecMarx — sebi:PG/AO-72/2010. 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.