sebi:SD/AO/39/2009
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Facts / Headnote
Penalty of Rs. 75,000 imposed under Section 15HB for violation of Regulation 15A(2)
Provisions invoked
- s. 15H
- s. 15
- s. 15J
Regulations
- Reg. 15
- Reg. 15A(2)
Parties
- M/s Janus Stock Brokers Private Limited
Holding
M/s Janus Stock Brokers Private Limited failed to exercise due skill, care and diligence under Regulation 15A(2) of the Broker Regulations by facilitating trading by debarred entity FTM in scrip VLL, and is liable for monetary penalty under Section 15HB of the SEBI Act.
Full text
Page 2 of 10 of two years vide two separate orders of the Chairman, SEBI namely CO/445/2002/IES/FUTP dt. January 06,2003 and CO/454/IES/01/2003 dt January 08,2003. These orders were duly placed in the website of the SEBI for information at large.
Page 3 of 10 adjudge the above said matter. SHOW CAUSE NOTICE/REPLY/PERSONAL HEARING : 6. A notice to show cause dated January 22, 2008 under Rule 4 of the Adjudicating Rules was issued to the Noticee asking it to show cause as to why an enquiry should not be held against it and penalty be not imposed under Section 15HB of the Act for its failure to follow due skill, care and diligence, as specified in the Broker Regulations. It was also advised to reply within 14 days from the date of receipt of this notice alongwith the copies of the documents, if any, in support of contentions., failing which the matter shall be proceeded on the basis of the material available on record. The said notice was returned undelivered with a remark “Not Claimed”.
Page 4 of 10 9. Infact, the Notice was well aware that the instant proceedings was on against it and its reply dated 20.02.2008 to show cause notice confirm his knowledge in this regard. The said attitude and conduct of giving disregard to quasi judicial authority is unhealthy practice and I have taken a serious note of the same.
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Source: SecMarx — sebi:SD/AO/39/2009. 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.