sebi:PKB/AO-158/2009
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Facts / Headnote
Noticee held guilty and penalty imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 7
- Reg. 3
Parties
- P.K.Agarwal & Co.
Holding
The Noticee P.K.Agarwal & Co. was held guilty of violating Regulations 3, 4(1), 4(2)(a), (b), (e), (g), (n) and (o) of the PFUTP Regulations and Clauses A(1), (2), (3), (4) and B(4)(a) of the Stock Brokers Code of Conduct, and a total monetary penalty of Rs. 3,00,000 was imposed under Sections 15HA and 15HB of the SEBI Act.
Full text
Adjudication Order in respect of P.K.Agarwal & Co. in the matter of M/s. Kay Vee Aar Ltd. Page 2 of 13 December 3, 2009 3. Subsequently, Securities and Exchange Board of India (hereinafter referred to as “SEBI”) conducted investigation into the trading in the scrip of the Company during the Investigation Period.
Adjudication Order in respect of P.K.Agarwal & Co. in the matter of M/s. Kay Vee Aar Ltd. Page 3 of 13 December 3, 2009 show cause why inquiry should not be held against the Noticee under Rule 4(3) of the Adjudication Rules for the alleged violations.
Adjudication Order in respect of P.K.Agarwal & Co. in the matter of M/s. Kay Vee Aar Ltd. Page 4 of 13 December 3, 2009 Shri P.K.Agarwal, proprietor of the Noticee attended the Hearing on September 10, 2009 and submitted the details of Sauda Register vide letter dated September 10, 2009. The Noticee also submitted that he had not done anything on his own account and all the transactions were on the account of clients as per their instructions. The Noticee also stated that he was not connected with any of the companies, the scrip of whose were referred under these proceedings and that all the transactions have been done on brokerage basis. Vide his letter dated September 10, 2009, he submitted the Sauda Register of the scrip of the Company and also mentioned that he is submitting the photocopy of IT Return Copy, which was however not found annexed with the letter.
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Source: SecMarx — sebi:PKB/AO-158/2009. 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.