sebi:PKK/AO/219/2010
Facts / Headnote
Violation found; penalty imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations relied on
- SEBI (PFUTP) Regulations, 2003 — 3(a)
- SEBI (PFUTP) Regulations, 2003 — 4(2)(p)
- SEBI (Stock Brokers) Regulations, 1992 — 15
Parties
- M/s. Falgun Finvest
Holding
The Noticee violated Regulations 3(a) and 4(2)(p) of the PFUTP Regulations and Clauses A(1&2) and D(1,4&5) of the Sub-broker Code of Conduct by generating false/fake contract notes, and a total monetary penalty of Rs. 2,00,000 under Sections 15HA and 15HB of the SEBI Act was imposed.
Full text
Page 2 of 8 were not genuine. M/s. Falgun Finvest (hereinafter referred to as the “Noticee”) was one of the sub-broker found to have issued false contract notes to the clients.
Page 3 of 8 Show Cause Notice, Reply and Personal Hearing 5. The AO issued a notice dated August 13, 2008 (hereinafter referred to as ‘SCN’) under Rule 4 of the Adjudicating Rules to the Noticee to show cause as to why an inquiry should not be held against him and penalty be not imposed under Sections 15 HA and HB of the SEBI Act, for its alleged violation of the provisions of Regulations 3 (a), 4(2) (p) of the PFUTP Regulations and Clauses A(1&2) and D (1,4&5) of the Code of Conduct for Sub -brokers as specified under Schedule II of the Regulation 15 of the Brokers Regulations.
Page 4 of 8 the Adjudication Rules, 1995. However, neither the Noticee nor its representative submitted any reply to the SCN. In the absence of any written reply submitted by the noticee, the AO
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Source: SecMarx — sebi:PKK/AO/219/2010. 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.