sebi:SD/AO-21/2009
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Facts / Headnote
Penalty imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 15
Parties
- Shri Surendra Kumar Kasera
Holding
The Noticee violated Regulations 3, 4(1) and 4(2)(a), (b), (g) and (n) of the PFUTP Regulations and Clauses A(1), A(2), D(4) and D(5) of the Broker Code of Conduct and was held liable for penalty under Sections 15HA and 15HB of the SEBI Act. A monetary penalty of Rs. 75,000 was imposed on Shri Surendra Kumar Kasera.
Full text
Page 2 of 11 “PFUTP”) and clauses A(1), A(2), D(4) and D(5) of the Code of conduct as specified in the schedule II under Regulation 15 of the SEBI(Stock Brokers and Sub–Brokers) Regulations,1992 (hereinafter referred to as the “Broker Regulations”) and therefore, liable for monetary penalty under section 15HA and 15HB of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act”).
Page 3 of 11 7. In the interest of natural justice and in order to conduct an inquiry as per rule 4 (3) of the Rules, the Noticee was granted an opportunity of personal hearing on April 22, 2008 vide notice dated March 11, 2008. The Noticee appeared in person for the hearing and expressed his desire to opt for the consent proceedings.
Page 4 of 11 CONSIDERATION OF ISSUES AND FINDINGS 11. The issues that arise for consideration in the present case are : a) Whether the Noticee has violated regulations 3, 4 (1), 4 (2) (a), (b), (g) and (n) of PFUTP and clauses A(1), A(2), D(4) and D(5) of the Code of conduct as specified in the schedule II under Regulation 15 of the Broker Regulations?
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Source: SecMarx — sebi:SD/AO-21/2009. 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.