sebi:PT/AO-02/2013
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Facts / Headnote
Benefit of doubt given on PFUTP charges; held guilty of violation of Code of Conduct Clause A(2) and penalty of Rs.1,00,000 imposed under Section 15HB
Provisions invoked
- s. 15I
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 7
- Reg. 3
- Reg. 4(1)
Parties
- NCJ Shares & Stock Brokers Ltd.
Holding
NCJ was given benefit of doubt on violation of PFUTP Regulations but was held to have failed to exercise due skill, care and diligence under Clause A(2) of the Brokers' Code of Conduct, and a penalty of Rs.1,00,000 under Section 15HB was imposed.
Full text
Page 2 of 17 (vi) trading volume in the scrip, varied in the range of 10 shares on 13.08.2003 to 34,190 shares on 28.11.2003 with a total trading volume of 6,87,854 shares during the said period; (vii) the price of the scrip, subsequently, reached a high of Rs. 549/- per share in the month of January, 2005 and was quoting at Rs. 293.50/- per share on 24.03.2006; (viii) during the investigation period, there were several major corporate development in JPL which included recommendation of dividend, acquisition of a French company, expansion plan and increase in authorised capital of the JPL; (ix) during the period of investigation, scrip of JPL was not so liquid; (x) Concentration of top ten brokers, in the scrip of JPL, on gross as well as net basis during the period of investigation was as follows;
Page 3 of 17 S. No. Member Code Member Name Sale Quantity Percentage 1. D0519 NCJ Shares & Stock Brokers 102053 13.39 2. D0182 Southern Shares (Chennai) 99966 13.11 3. D0513 Galaxy Broking Limited 95968 12.55 4. D0737 Bharati Thakkar India Securities 94337 12.37 5. D0909 Pilot Credit Capital - MU 56846 7.45 6. D0552 Pramod Kumar Jain Securities 54590 7.16 7. D0013 Adolf Pinto 46330 6.07 8. D0911 Ajmer Associates P. Ltd. 27545 3.61 9. D0779 Uttam Financial Services 24420 3.20 10. D0197 Networth Broking Ltd 14631 1.91
Page 4 of 17 S. No. Member Code Member Name Purchase Quantity Percentage 1. D0293 ASE Capital Market 6900 9.69 2. D0258 SKSE Sec. (Rajkot) 3771 5.29 3. D0446 Motilal Oswal Securities 2625 3.68 4. D0287 JSEL Securities Ltd. 2455 3.44 5. D0449 Patani Securities Pvt. Ltd. 1762 2.47 6. D0089 Joindre Capital Ltd. 1650 2.31 7. D0253 VSE Sec. Ltd.(Vadodra) 1459 2.04 8. D0785 TCP Stock Brokers Ltd. 1435 2.01 9. D0003 Asit C Mehta Investment 1260 1.77 10. D0367 Kaynet Capital (Pune) 1258 1.76
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Source: SecMarx — sebi:PT/AO-02/2013. 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.