sebi:PKB/AO-77/2009
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Facts / Headnote
Violations established in part; monetary penalty of Rs. 1,00,000 imposed under Section 15HB
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 15F
Regulations
- Reg. 7
- Reg. 15
- Reg. 18B
Parties
- Rishabh Stock Broking Services Pvt. Ltd.
Holding
The noticee violated SEBI Circular No. SEBI/MIRSD/DPS-1/Cir-31/2004, SEBI Circulars on segregation of client funds, and Rule 8(1)(f) and 8(3)(f) of SC(R) Rules, 1957, while other charges were not established, and a monetary penalty of Rs. 1,00,000 under Section 15HB was imposed.
Full text
Adjudication Order In Respect of Rishabh Stock Broking Services Pvt. Ltd. 18/6/2009 Page 2 of 13 (ii) The client agreement/ registration forms maintained by the noticee were incomplete, which is in violation of SEBI Circular No. SEBI/MIRSD/DPS-1/Cir- 31/2004 dated August 26, 2004.
Adjudication Order In Respect of Rishabh Stock Broking Services Pvt. Ltd. 18/6/2009 Page 3 of 13 (ix) The noticee had indulged in loan and fund based transactions which is in violation of Rule 8(1) (f) and 8(3) (f) of SC(R) Rules, 1957.
Adjudication Order In Respect of Rishabh Stock Broking Services Pvt. Ltd. 18/6/2009 Page 4 of 13 6. The submissions made by the noticee are discussed in the succeeding paragraphs.
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Source: SecMarx — sebi:PKB/AO-77/2009. 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.