sebi:PT/AO-2/2011
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Facts / Headnote
Held guilty on Issue Nos. 1, 2, 5 and 6; not guilty on Issue Nos. 3, 4, 7 and 8; penalty of Rs.1,10,000 imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 23H
- s. 11H
Regulations
- Reg. 15
- Reg. 17(1)
- Reg. 21
- Reg. 17(1)(n)
- Reg. 15(2)
Holding
Noticee sub-broker held guilty of violating SEBI Circular dated October 22, 2001, Regulation 21 and Regulation 15 r/w Clauses A(2), B(2) and D(2) of Code of Conduct, and SEBI Circular dated August 27, 2003, and liable for monetary penalty. Penalty of Rs.1,10,000 under Section 15HB [stated as 11HB] imposed; allegations on cash acceptance, tripartite agreements, routing of securities and Rule 8(3)(f) not established.
Full text
Page 2 of 19 3. Accordingly, Chairman SEBI vide order dated September 22, 2009 appointed the undersigned as Adjudicating Officer to inquire into and adjudge under Sections 15A(a), 15B and 15HB of the SEBI Act and under Section 23H of SC(R)A, the alleged violations by the noticee.
Page 3 of 19 was issued to the noticee and personal hearing was scheduled to be held on September 30, 2010. The said hearing was however adjourned on the request of the noticee and finally personal hearing took place on October 21, 2010. The proprietor of the noticee along with his authorised representative Shri Surinder Pal Dhingra appeared for the inquiry made
Page 4 of 19 Clause D(2) of the Code of Conduct for sub-brokers as laid down under schedule II of SEBI (Stock brokers and sub-brokers) Regulations, 1992
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Source: SecMarx — sebi:PT/AO-2/2011. 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.