sebi:PG/AO-86/2011
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Facts / Headnote
Penalty imposed on the Noticee for violations of SEBI Circular No.SEBI/MRD/SE/Cir-33/2003/27/08, Code of Conduct under Schedule II of Broker Regulations, and Section 11C(3) of SEBI Act
Provisions invoked
- s. 15A
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 11C
Regulations
- Reg. 15
Parties
- M/s Share Aids
Holding
The Noticee (M/s Share Aids) violated SEBI Circular No.SEBI/MRD/SE/Cir-33/2003/27/08 and clauses A(2) and D(4) of the Code of Conduct under Schedule II of the Broker Regulations by accepting delivery on behalf of promoters from a third party (DCS), and violated Section 11C(3) of the SEBI Act by failing to comply with the Investigating Authority's summons. A total penalty of Rs. 3,50,000/- was imposed (Rs. 2,00,000 under Section 15A(a) and Rs. 1,50,000 under Section 15HB).
Full text
Page 2 of 13 2. It was observed that the price of shares of NWTL was falling despite favorable corporate announcements and improvement in the results for quarter ended March 2005 as well as good annual results.
Page 3 of 13 Rules, 1995 (hereinafter referred to as ‘Rules’) to inquire into and adjudge under Sections 15 A(a) and 15HB of SEBI Act, the alleged violations of the provisions of SEBI Act and Broker Regulations.
Page 4 of 13 “I admit that I did the transactions on behalf of the promoter entities of Netvsion Web Technologies Ltd. for which I received deliveries from the account of Dina Chandravadan Soni. I was not aware of the SEBI circular prohibiting the same.
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Source: SecMarx — sebi:PG/AO-86/2011. 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.