sebi:SD/AO/133/2009
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Facts / Headnote
Alleged violation not established; matter disposed of without penalty
Provisions invoked
- s. 15
- s. 15H
- s. 15I
Regulations
- Reg. 7
Parties
- M/s Religare securities Ltd.
Holding
The alleged violation of Regulation 7 read with Clauses A(2) and A(5) of the Code of Conduct by M/s Religare Securities Ltd. was held not proved and the matter under SCN dated May 25, 2009 was disposed of without penalty.
Full text
Page 2 of 7 the scrip and was designed to create a false market and distorted market equilibrium leading to spurt in the price of the scrip which did not have any correlation with the performance of the company.
Page 3 of 7 the alleged violation by it of the abovementioned provisions of the Broker Regulations. 7. In response to the said notice to show cause (hereinafter referred to as the ‘SCN’), the Noticee submitted a detailed reply dated July 10, 2009.
Page 4 of 7 CODE OF CONDUCT FOR STOCK BROKERS A. General. (1) … (2) Exercise of due skill and care : A stock-broker shall act with due skill, care and diligence in the conduct of all his business. (3) … (4)… (5) Compliance with statutory requirements: A stock-broker shall abide by all the provisions of the Act and the rules, regulations issued by the Government, the Board and the Stock Exchange from time to time as may be applicable to him.”
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Source: SecMarx — sebi:SD/AO/133/2009. 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.