sebi:SPL/AO/SKS/SG/DCR/03/2010
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Facts / Headnote
Consolidated penalty of Rs. 1,00,000 imposed under Sections 15HA and 15HB of the SEBI Act
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 17
- Reg. 15
Parties
- Vikas Consultancy
Holding
The noticee violated Regulation 4(1) and 4(2)(a), (b), (e) and (g) of the PFUTP Regulations and Regulation 15 read with Clause A(1) and (2) and Clause D(1), (4) and (5) of the Broker and Sub-Broker Regulations, and a consolidated penalty of Rs. 1,00,000 under Sections 15HA and 15HB of the SEBI Act was imposed.
Full text
Page 2 of 14 trades) and first trades, which contributed to consistent and significant fall in price of the scrip and distorted the market equilibrium by which it had violated the provisions of Regulation 4 (1) and 4(2) (a), (b), (e) and (g) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 (hereinafter referred to as “PFUTP Regulations”) and Regulation 15 read with Clause A (1) and (2) and Clause D (1), (4) and (5) of code of conduct specified under Schedule II of the SEBI (Stock brokers and sub- brokers) Regulation, 1992 (hereinafter referred to as “Broker and Sub Broker Regulations”), and therefore, liable for monetary penalty under sections 15HA and 15HB of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act”).
Page 3 of 14 PFUTP Regulations and Regulation 15 read with Clause A (1) and (2) and Clause D (1), (4) and (5) of code of conduct specified under Schedule II of the Broker and Sub Broker Regulations.
Page 4 of 14 of conduct specified under Schedule II of Broker and Sub Broker Regulations, and therefore, liable for monetary penalty under sections 15HA and 15HB of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act”).
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Source: SecMarx — sebi:SPL/AO/SKS/SG/DCR/03/2010. 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.